40.39. Despite any contrary provision, bridge institutions and asset management companies are not mandataries of the Authority or of the State.
Likewise, the legislative provisions applicable to a body for any of the following reasons do not apply to a bridge institution or an asset management company:
(1) at least half of its expenditures are borne directly or indirectly by the Consolidated Revenue Fund;
(2) at least half of its financing, resources or share capital is derived from that fund; or
(3) its capital stock forms part of the domain of the State.