Commonwealth of Australia Explanatory Memoranda

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NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY AMENDMENT (EXTENSION AND OTHER MEASURES) BILL 2021

                           2019-2020-2021




  THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA




                              SENATE




NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY AMENDMENT
       (EXTENSION AND OTHER MEASURES) BILL 2021




      SUPPLEMENTARY EXPLANATORY MEMORANDUM

       Amendments to be moved on behalf of the Government




        (Circulated by authority of the Minister for Resources,

     Water and Northern Australia, the Honourable Keith Pitt MP)
TABLE OF CONTENTS

GLOSSARY                     5

OUTLINE                      7

FINANCIAL IMPACT STATEMENT   7

NOTES ON AMENDMENTS          9
4
GLOSSARY
               Abbreviation                    Definition

The Act                       Northern Australia Infrastructure Facility
                              Act 2016

The Bill                      The Northern Australia Infrastructure
                              Facility Amendment (Extension and Other
                              Measures) Bill 2021

The Facility                  Northern Australia Infrastructure Facility




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    AMENDMENTS TO THE NORTHERN AUSTRALIA INFRASTRUCTURE
  FACILITY AMENDMENT (EXTENSION AND OTHER MEASURES) BILL 2021

OUTLINE

The Northern Australia Infrastructure Facility Amendment (Extension and Other Measures)
Bill 2021 amends the Northern Australia Infrastructure Facility Act 2016. The Bill includes a
requirement that terms and conditions must be set out in a written agreement where the
Facility provides financial assistance to a corporation.

These amendments clarify the circumstances in which terms and conditions must be attached
to the provision of financial assistance by the Facility.

FINANCIAL IMPACT STATEMENT

Nil.




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     NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY AMENDMENT
            (EXTENSION AND OTHER MEASURES) BILL 2021


                      NOTES ON GOVERNMENT AMENDMENTS


(1)    Schedule 1, item 12, page 7 (line 7), after "assistance", insert "(other than equity
investments)"

This amendment amends the title of section 7A to reflect the intention that it does not apply
where the Facility provides financial assistance in the form of equity investments.

(2)     Schedule 1, item 12, page 7 (line 9), after "assistance", insert "(other than in the form
of equity investments)"

This amendment clarifies that subsection 7A(1) does not apply where the Facility provides
financial assistance in the form of equity investments.




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