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Nation-building Funds Bill 2008

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5645

2008

 

The Parliament of the

Commonwealth of Australia

 

THE SENATE

 

 

 

 

Nation-building Funds Bill 2008

 

 

(1)     Page 2 (after line12), after clause 2, insert:

2A   Principles of Nation-building Funds

             (1)  The underlying principles of the Nation-building Funds established by this or any other Act are that projects financed from the Funds must:

                     (a)  address national infrastructure priorities;

                     (b)  demonstrate high benefits and effective use of resources;

                     (c)  address climate change mitigation and adaptation and biodiversity conservation;

                     (d)  prepare for the global oil production peak and subsequent decline in oil production;

                     (e)  efficiently address infrastructure needs;

                      (f)  demonstrate achievement of established standards in implementation and management.

[principles of Funds]

(2)     Clause 120, page 93 (after line 9), after subclause (1), insert:

          (1A)  The BAF evaluation criteria must include criteria in relation to:

                     (a)  climate change mitigation and adaptation and biodiversity conservation;

                     (b)  preparation for the global oil production peak and expected decline in oil production.

[BAF evaluation criteria]

(3)     Clause 120, page 93 (after line 9), after subclause (1), insert:

          (1B)  The BAF evaluation criteria must require Infrastructure Australia to include assessments of the greenhouse gas emission and oil consumption implications of a matter in any advice prepared by under subsection 116(1), 117(1), 118(1) or 119(1).

[BAF evaluation criteria]

(Amendment to AG-Opp amendment (9) on sheet 5693) :

(4)     At the end of Schedule 1, add:

2  At the end of subsection 8(2)

Add:

             ; and (f)  2 members are people with specific expertise and experience in one or more of the following fields:

                              (i)  climate change mitigation and adaptation;

                             (ii)  the global oil production peak and expected decline in oil production.

[appointment of members of Infrastructure Australia]