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EXPORT FINANCE AND INSURANCE CORPORATION ACT 1991 - SECT 23C

Approval required before providing services or products to finance certain coal, crude oil or natural gas activities

    Despite any other provision of this Part, EFIC must not provide a service or product under this Part that would:

  (a)   directly finance the extraction of coal, crude oil or natural gas; or

  (b)   directly finance the construction of infrastructure for the primary purpose of extracting coal, crude oil or natural gas; or

  (c)   directly finance investments for the sole purpose of the use of coal, crude oil or natural gas;

unless an application for the service or product has been referred to the Minister under section   25.

Note:   A direction under section   26 may prevent such applications from being referred to the Minister. EFIC cannot provide a service or product covered by this section in those circumstances.

 



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