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Schedule 2—Northern Australia Infrastructure Facility Act 2016

Schedule 2 Northern Australia Infrastructure Facility Act 2016

   

Northern Australia Infrastructure Facility Act 2016

1  Section 5

Insert:

associated entity has the same meaning as in the Corporations Act 2001 .

executive officer has the same meaning as in the Environment Protection and Biodiversity Conservation Act 1999 .

2  After subsection 11(2)

Insert:

          (2A)  The proposal notice must include an assessment by the Facility of whether the entity responsible for the project for which the financial assistance is proposed to be provided is a suitable person to benefit from the financial assistance.

          (2B)  For the purposes of an assessment under subsection (2A), the Facility must have regard to the following, whether within or outside Australia:

                     (a)  the person’s history in relation to environmental matters;

                     (b)  if the person is a body corporate—the history of its executive officers in relation to environmental matters;

                     (c)  if the person is a body corporate that has an associated entity—the history in relation to environmental matters of the associated entity and the entity’s executive officers;

                     (d)  subject to the regulations, whether any of the following has been convicted of, or investigated in relation to, an offence:

                              (i)  the person;

                             (ii)  if the person is a body corporate—its executive officers;

                            (iii)  if the person is a body corporate that has an associated entity—the associated entity and the entity’s executive officers;

                     (e)  any other matter prescribed by the regulation s;

                      (f)  any other matter the Facility considers to be relevant.

          (2C)  In undertaking an assessment under subsection (2A), the Facility must consult with the following:

                     (a)  the Department administered by the Minister administering the Environment Protection and Biodiversity Conservation Act 1999 ;

                     (b)  the Australian Securities and Investments Commission;

                     (c)  the Australian Crime Commission.

3  At the end of section 11

Add:

             (6)  Despite subsection (5), the Minister must give the rejection notice before the end of the Minister’s consideration period if the Facility’s assessment under subsection (2A) is that the entity responsible for the project for which the financial assistance is proposed to be provided is not a suitable person to benefit from the financial assistance.

4  Application of amendments

The amendments made by this Schedule apply in relation to proposal notices given on or after the day this item commences.