(1) The object of this Act is to provide grants of financial assistance to the States and Territories for the construction of Northern Australia economic infrastructure.
(2) Northern Australia economic infrastructure is infrastructure that:
(a) provides a basis for economic growth in Northern Australia; and
(b) stimulates population growth in Northern Australia.
Note: Infrastructure located outside Northern Australia can be Northern Australia economic infrastructure as long as it meets the requirements set out in paragraphs (2)(a) and (b).