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This is a Bill, not an Act. For current law, see the Acts databases.
2019-2020-2021
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Northern Australia Infrastructure
Facility Amendment (Extension and
Other Measures) Bill 2021
No. , 2021
(Resources, Water and Northern Australia)
A Bill for an Act to amend the
Northern Australia
Infrastructure Facility Act 2016
, and for related
purposes
No. , 2021
Northern Australia Infrastructure Facility Amendment (Extension and
Other Measures) Bill 2021
i
Contents
1
Short title ........................................................................................... 1
2
Commencement ................................................................................. 1
3
Schedules ........................................................................................... 2
Schedule 1--Amendments
3
Northern Australia Infrastructure Facility Act 2016
3
No. , 2021
Northern Australia Infrastructure Facility Amendment (Extension and
Other Measures) Bill 2021
1
A Bill for an Act to amend the
Northern Australia
1
Infrastructure Facility Act 2016
, and for related
2
purposes
3
The Parliament of Australia enacts:
4
1 Short title
5
This Act is the
Northern Australia Infrastructure Facility
6
Amendment (Extension and Other Measures) Act 2021
.
7
2 Commencement
8
(1) Each provision of this Act specified in column 1 of the table
9
commences, or is taken to have commenced, in accordance with
10
column 2 of the table. Any other statement in column 2 has effect
11
according to its terms.
12
2
Northern Australia Infrastructure Facility Amendment (Extension and
Other Measures) Bill 2021
No. , 2021
1
Commencement information
Column 1
Column 2
Column 3
Provisions
Commencement
Date/Details
1. The whole of
this Act
The day after this Act receives the Royal
Assent.
Note:
This table relates only to the provisions of this Act as originally
2
enacted. It will not be amended to deal with any later amendments of
3
this Act.
4
(2) Any information in column 3 of the table is not part of this Act.
5
Information may be inserted in this column, or information in it
6
may be edited, in any published version of this Act.
7
3 Schedules
8
Legislation that is specified in a Schedule to this Act is amended or
9
repealed as set out in the applicable items in the Schedule
10
concerned, and any other item in a Schedule to this Act has effect
11
according to its terms.
12
Amendments
Schedule 1
No. , 2021
Northern Australia Infrastructure Facility Amendment (Extension and
Other Measures) Bill 2021
3
Schedule 1--Amendments
1
2
Northern Australia Infrastructure Facility Act 2016
3
1 Subsection 3(1)
4
Repeal the subsection, substitute:
5
(1) The object of this Act is to establish the Northern Australia
6
Infrastructure Facility to provide financial assistance to the States
7
and Territories and other entities for the development of Northern
8
Australia economic infrastructure.
9
2 Paragraph 3(2)(a)
10
Omit "and", substitute "or".
11
3 Subsection 3(2) (note)
12
Omit "requirements set out in paragraphs (2)(a) and (b)", substitute
13
"requirement set out in paragraph (2)(a) or (b)".
14
4 Section 4
15
Repeal the section, substitute:
16
4 Simplified outline of this Act
17
This Act establishes the Northern Australia Infrastructure Facility
18
to provide financial assistance to the States and Territories and to
19
other entities for the development of Northern Australia economic
20
infrastructure.
21
The Facility may determine terms and conditions for the provision
22
of financial assistance.
23
The Board of the Facility must act in accordance with directions
24
given by the responsible Ministers (the Finance Minister and the
25
Minister for Northern Australia). The directions are known as the
26
Investment Mandate.
27
Schedule 1
Amendments
4
Northern Australia Infrastructure Facility Amendment (Extension and
Other Measures) Bill 2021
No. , 2021
The Minister for Northern Australia has the opportunity to consider
1
proposals to provide financial assistance for the development of
2
Northern Australia economic infrastructure, and may decide that
3
particular financial assistance should not be provided.
4
5 Section 5
5
Insert:
6
appointed member
means a member appointed under section 15.
7
Finance Minister
means the Minister who administers the
Public
8
Governance, Performance and Accountability Act 2013
.
9
financial assistance
, in relation to the function conferred on the
10
Facility by subsection 7(1A), includes assistance in the form of
11
loans, letters of credit, guarantees, purchase of bonds, and equity
12
investments.
13
Minister for Northern Australia
means the Minister who
14
administers this Act.
15
6 Section 5 (after paragraph (e) of the definition of
Northern
16
Australia
)
17
Insert:
18
(ea) the Local Government Area of Ngaanyatjarraku;
19
7 Section 5
20
Insert:
21
responsible Ministers
means the Finance Minister and the Minister
22
for Northern Australia.
23
Secretary
means the Secretary of the Department.
24
subsidiary
of the Facility means a subsidiary of the Facility for the
25
purposes of the
Public Governance, Performance and
26
Accountability Act 2013
.
27
8 At the end of Part 1
28
Add:
29
Amendments
Schedule 1
No. , 2021
Northern Australia Infrastructure Facility Amendment (Extension and
Other Measures) Bill 2021
5
5A References to the Minister
1
In this Act, a reference to the Minister is a reference to the Minister
2
for Northern Australia.
3
9 Before subsection 7(1)
4
Insert:
5
Grants of financial assistance to the States and Territories
6
10 Paragraph 7(1)(a)
7
Repeal the paragraph, substitute:
8
(a) to provide grants of financial assistance to the States and
9
Territories for the development of Northern Australia
10
economic infrastructure; and
11
11 After subsection 7(1)
12
Insert:
13
Financial assistance to other entities
14
(1A) It is also a function of the Facility to provide financial assistance to
15
entities other than the States and Territories, and determine terms
16
and conditions for the provision of that financial assistance, for the
17
development of Northern Australia economic infrastructure:
18
(a) that is with respect to, or in, a Territory; or
19
(b) that is with respect to people to whom paragraph 51(xxvi) of
20
the Constitution applies; or
21
(c) that is with respect to trade and commerce:
22
(i) between Australia and places outside Australia; or
23
(ii) among the States; or
24
(iii) within a Territory, between a State and a Territory, or
25
between 2 Territories; or
26
(d) that is with respect to a postal, telegraphic, telephonic or
27
other like service to which paragraph 51(v) of the
28
Constitution applies; or
29
(e) that is for the purposes of the defence of the Commonwealth
30
and the States; or
31
Schedule 1
Amendments
6
Northern Australia Infrastructure Facility Amendment (Extension and
Other Measures) Bill 2021
No. , 2021
(f) if the entity is a corporation to which paragraph 51(xx) of the
1
Constitution applies and the financial assistance is not in the
2
form of equity investments; or
3
(g) that is with respect to external affairs, including:
4
(i) giving effect to any international agreement to which
5
Australia is a party; and
6
(ii) addressing matters external to Australia; or
7
(h) that is with respect to railway construction or extension to
8
which paragraph 51(xxxiv) of the Constitution applies; or
9
(i) that is with respect to activities that are peculiarly adapted to
10
the government of a nation and cannot otherwise be carried
11
on for the benefit of the nation; or
12
(j) that is with respect to matters incidental to the execution of
13
any of the legislative powers of the Parliament or the
14
executive power of the Commonwealth.
15
Equity investments
16
(1B) The Facility may provide financial assistance in the form of equity
17
investments under subsection (1A) by making investments itself
18
(including as a participant in partnerships, trusts, joint ventures or
19
similar arrangements), through subsidiaries or other investment
20
vehicles, or by any combination of these means. The Facility must
21
not provide financial assistance in any other form under
22
subsection (1A) through subsidiaries.
23
Acquisition of derivatives
24
(1C) The Facility may only acquire a derivative for the purpose of:
25
(a) protecting the value of financial assistance provided by the
26
Facility (other than derivatives acquired by the Facility); or
27
(b) protecting the return on financial assistance provided by the
28
Facility (other than derivatives acquired by the Facility); or
29
(c) achieving indirect exposure to financial assets (other than
30
derivatives) for a purpose in connection with the Facility's
31
function of providing financial assistance; or
32
(d) achieving transactional efficiency for a purpose in connection
33
with the Facility's function of providing financial assistance;
34
but must not acquire a derivative for the purpose of:
35
Amendments
Schedule 1
No. , 2021
Northern Australia Infrastructure Facility Amendment (Extension and
Other Measures) Bill 2021
7
(e) speculation; or
1
(f) leverage.
2
(1D) Subsection (1C) does not apply in relation to guarantees given by
3
the Facility in the ordinary course of providing financial assistance.
4
12 After section 7
5
Insert:
6
7A Terms and conditions for provision of financial assistance to
7
corporations
8
(1) If the Facility decides to provide financial assistance to a
9
corporation to which paragraph 51(xx) of the Constitution applies:
10
(a) the terms and conditions on which the assistance is to be
11
provided must be set out in a written agreement between the
12
Facility and the corporation; and
13
(b) the corporation must comply with the terms and conditions.
14
(2) Without limiting subsection (1), the terms and conditions must
15
provide for the circumstances in which the corporation must repay
16
amounts to the Facility.
17
13 Subsection 8(1)
18
Omit "30 June 2021", substitute "30 June 2026".
19
14 Subsection 8(1)
20
Omit "construction", substitute "development".
21
15 Paragraphs 8(2)(a) and (b)
22
Omit "30 June 2021", substitute "30 June 2026".
23
16 Subsection 9(1)
24
Omit "The Minister", substitute "The responsible Ministers".
25
17 Subsection 9(1)
26
Omit "to the Facility", substitute "to the Board".
27
Schedule 1
Amendments
8
Northern Australia Infrastructure Facility Amendment (Extension and
Other Measures) Bill 2021
No. , 2021
18 Subsection 9(3)
1
Repeal the subsection, substitute:
2
(3) The Board must take all reasonable steps to ensure that the Facility
3
and its subsidiaries comply with the Investment Mandate.
4
19 Paragraph 9(4)(a)
5
Omit "construction", substitute "development".
6
20 After paragraph 10(d)
7
Insert:
8
(da) matters relating to the provision of financial assistance in the
9
form of equity investments, including limits on the amount
10
that may be provided in this form, the rate of return, and the
11
management of risks;
12
21 Paragraph 10(g)
13
Omit "the Minister thinks", substitute "the responsible Ministers think".
14
22 Paragraph 11(1)(a)
15
After "period", insert ", unless the Minister has notified the Facility
16
under subsection (3A) in relation to the financial assistance".
17
23 After subsection 11(3)
18
Insert:
19
(3A) At any time during the Minister's consideration period, the
20
Minister may notify the Facility in writing that the Minister does
21
not intend to exercise the Minister's power under subsection (4) in
22
relation to the financial assistance.
23
24 Subsection 11(4)
24
Omit "At any time during the Minister's consideration period, the
25
Minister may", substitute "If the Minister has not notified the Facility
26
under subsection (3A) in relation to the financial assistance, the
27
Minister may, at any time during the Minister's consideration period,".
28
25 At the end of subsection 13(2)
29
Add:
30
Amendments
Schedule 1
No. , 2021
Northern Australia Infrastructure Facility Amendment (Extension and
Other Measures) Bill 2021
9
; and (c) the Secretary.
1
26 Subsection 13(3)
2
Omit "5", substitute "6".
3
27 Subsection 15(1)
4
After "the Chair", insert "but not including the Secretary".
5
28 Subsection 15(3)
6
Omit "A member", substitute "An appointed member".
7
29 At the end of subsection 15(4)
8
Add:
9
; (i) economic development for Indigenous communities.
10
30 Section 17 (heading)
11
Omit "
of
members
".
12
31 Subsections 17(1) and (2)
13
Omit "A member", substitute "An appointed member".
14
32 Subsection 18(1)
15
Omit "The Minister", substitute "If the Chair is an appointed member,
16
the Minister".
17
33 Subsection 18(2)
18
Omit "a member (other than the Chair)", substitute "any other
19
appointed member".
20
34 Section 19
21
Omit "A member", substitute "An appointed member".
22
35 Section 20 (heading)
23
Omit "
of
members
".
24
36 Subsection 20(1)
25
Omit "A member", substitute "An appointed member".
26
Schedule 1
Amendments
10
Northern Australia Infrastructure Facility Amendment (Extension and
Other Measures) Bill 2021
No. , 2021
37 Subsection 21(1)
1
Omit "a member", substitute "an appointed member".
2
38 At the end of subsection 21(1)
3
Add:
4
; or (d) if the Minister is satisfied that the collective experience and
5
expertise of the Board are not sufficiently diverse or
6
appropriate to enable the Board to perform its functions
7
effectively.
8
39 Subsections 21(2) and (3)
9
Omit "a member", substitute "an appointed member".
10
40 Subsection 21(3) (note)
11
Omit "a member may", substitute "an appointed member may".
12
41 Subsection 22(3)
13
Omit "4", substitute "5".
14
42 After section 22
15
Insert:
16
22A Secretary may nominate alternate to attend Board meetings
17
(1) The Secretary may, by writing, nominate a specified person who is
18
an SES employee or acting SES employee in the Department to
19
attend a particular meeting, or all meetings, of the Board at which
20
the Secretary is not present.
21
(2) A person so nominated may attend a meeting to which the
22
nomination applies and, if the person does so, the person is taken to
23
be a member of the Board.
24
43 Paragraphs 24(a) and (b)
25
Repeal the paragraphs, substitute:
26
(a) if there are 7 or more members--5 members; and
27
(b) otherwise--4 members.
28
Amendments
Schedule 1
No. , 2021
Northern Australia Infrastructure Facility Amendment (Extension and
Other Measures) Bill 2021
11
44 Before section 40
1
Insert:
2
39A Matters relating to subsidiaries
3
(1) The Facility must not incorporate or otherwise form a subsidiary in
4
a place other than Australia.
5
(2) In providing financial assistance in the form of equity investments
6
for the purposes of the performance of the Facility's functions
7
under subsection 7(1A), a subsidiary of the Facility must:
8
(a) take all reasonable steps to comply with the Investment
9
Mandate, to the extent to which the Investment Mandate is
10
capable of applying to the activities of the subsidiary; and
11
(b) only acquire derivatives for a purpose for which the Facility
12
may do so under subsection 7(1C).
13
45 Section 41
14
Omit "grants of financial assistance to the States and Territories for the
15
construction", substitute "financial assistance to the States and
16
Territories and other entities for the development".
17
46 Section 42
18
Before "The annual", insert "(1)".
19
47 Subparagraph 42(d)(ii)
20
Repeal the subparagraph, substitute:
21
(ii) the forms in which financial assistance was provided,
22
and their important features; and
23
48 At the end of section 42
24
Add:
25
(2) The annual report must also do the things referred to in
26
paragraphs (1)(d) and (e) in relation to financial assistance
27
provided for the purposes of the performance of the Facility's
28
functions under subsection 7(1A) by each subsidiary of the Facility
29
in existence at the end of the period to which the annual report
30
relates.
31
Schedule 1
Amendments
12
Northern Australia Infrastructure Facility Amendment (Extension and
Other Measures) Bill 2021
No. , 2021
49 After section 42
1
Insert:
2
42A Delegation by Board
3
(1) The Board may, in writing, delegate to the CEO any of its powers
4
or functions under this Act.
5
(2) In exercising any powers or performing any functions under the
6
delegation, the CEO must comply with any directions of the Board.
7
50 Subsection 43(1)
8
Omit "the period of 3 years beginning when this Act commences",
9
substitute "30 June 2024".
10
51 Paragraph 43(2)(a)
11
Omit "30 June 2021", substitute "30 June 2026".
12