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Australian Local Power Agency Bill 2021

2019-2020-2021

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

Australian Local Power Agency Bill 2021

 

No.      , 2021

 

(Dr Haines)

 

 

 

A Bill for an Act to establish the Australian Local Power Agency, and for related purposes

   

   

   



Contents

Part 1—Preliminary                                                                                                              1

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 2

3............ Object.................................................................................................. 2

4............ Definitions.......................................................................................... 3

5............ Meaning of community energy project................................................ 5

6............ Financial assistance............................................................................. 7

Part 2—Australian Local Power Agency                                                                 8

Division 1—Establishment, functions, powers etc.                                         8

7............ Establishment...................................................................................... 8

8............ ALPA’s functions............................................................................... 8

9............ General rules about performance of functions..................................... 9

10.......... Minister may direct ALPA to provide advice.................................... 10

11.......... Constitutional limits.......................................................................... 10

12.......... Powers.............................................................................................. 11

13.......... ALPA does not have privileges and immunities of the Crown......... 11

14.......... Taxation............................................................................................ 12

Division 2—ALPA’s financial assistance function                                       13

15.......... ALPA’s financial assistance function............................................... 13

16.......... General rule about performance of financial assistance function....... 13

17.......... Provision of financial assistance to be in accordance with general strategy              13

18.......... Minister may request ALPA to consider funding for specified projects.. 13

19.......... Ministerial approval where grants exceed $50 million...................... 14

Division 3—ALPA’s investment function                                                          15

Subdivision A—ALPA’s investment function                                                     15

20.......... Investment function........................................................................... 15

21.......... Complying investments..................................................................... 15

22.......... Australian based investments............................................................ 16

23.......... Prohibited technology....................................................................... 17

Subdivision B—Performance of investment function                                     17

24.......... Financial assets................................................................................. 17

25.......... Investment Mandate.......................................................................... 18

26.......... Limits on Investment Mandate.......................................................... 19

27.......... Board to be consulted on Investment Mandate.................................. 19

28.......... Compliance with Investment Mandate.............................................. 20

29.......... Derivatives........................................................................................ 21

Division 4—Community investment in large renewable energy projects              22

30.......... Community investment in large renewable energy projects............... 22

31.......... Constitutional basis of this Division................................................. 23

Part 3—Board of ALPA                                                                                                   25

Division 1—Establishment and functions                                                          25

32.......... Establishment.................................................................................... 25

33.......... Functions of the Board...................................................................... 25

Division 2—General strategy, guidelines and work plans                       26

Subdivision A—General strategy                                                                          26

34.......... General strategy................................................................................ 26

35.......... Approval of general strategy............................................................. 27

36.......... When a general strategy for a year is in force.................................... 27

37.......... Variation of general strategy............................................................. 27

38.......... General strategy to be published on ALPA’s website....................... 28

Subdivision B—Guidelines                                                                                     28

39.......... Guidelines......................................................................................... 28

40.......... Approval of guidelines for financial assistance in excess of $15 million  29

41.......... Guidelines to be published on ALPA’s website............................... 29

Subdivision C—Work plans                                                                                   30

42.......... Work plan......................................................................................... 30

43.......... Work plan to be taken into account................................................... 31

Subdivision D—Investment policies                                                                     31

44.......... Investment policies............................................................................ 31

Division 3—Board members                                                                                    33

45.......... Membership...................................................................................... 33

46.......... Appointment of Board members....................................................... 33

47.......... Chair................................................................................................. 33

48.......... Term of appointment......................................................................... 33

49.......... Acting appointments......................................................................... 34

50.......... Remuneration.................................................................................... 34

51.......... Leave of absence............................................................................... 35

52.......... Disclosure of interests to the Minister............................................... 35

53.......... Resignation of appointed members................................................... 36

54.......... Termination of appointment of appointed members.......................... 36

55.......... Other terms and conditions of appointed members........................... 37

Division 4—Meetings of the Board                                                                      38

56.......... Convening meetings.......................................................................... 38

57.......... Secretary may nominate alternate to attend Board meetings.............. 38

58.......... Presiding at meetings........................................................................ 38

59.......... Quorum............................................................................................. 39

60.......... Voting at meetings............................................................................ 39

61.......... Conduct of meetings......................................................................... 39

62.......... Minutes............................................................................................. 39

63.......... Decisions without meetings.............................................................. 39

Division 5—Committees                                                                                             41

64.......... Committees....................................................................................... 41

65.......... Remuneration and allowances........................................................... 41

Part 4—Chief Executive Officer, staff and consultants                                43

Division 1—Chief Executive Officer of ALPA                                               43

66.......... Establishment.................................................................................... 43

67.......... Role................................................................................................... 43

68.......... Appointment..................................................................................... 43

69.......... Acting appointments......................................................................... 44

70.......... Outside employment......................................................................... 44

71.......... Remuneration.................................................................................... 44

72.......... Leave................................................................................................. 45

73.......... Disclosure of interests to the Minister............................................... 45

74.......... Resignation....................................................................................... 45

75.......... Termination of appointment.............................................................. 46

76.......... Other terms and conditions............................................................... 46

Division 2—Staff and consultants                                                                         47

77.......... Chief Financial Officer...................................................................... 47

78.......... Other staff......................................................................................... 47

79.......... Consultants....................................................................................... 47

Part 5—Miscellaneous                                                                                                        48

80.......... Matters relating to subsidiaries.......................................................... 48

81.......... Publication of investment reports...................................................... 48

82.......... Publication of reports etc................................................................... 49

83.......... Extra matters to be included in annual report..................................... 50

84.......... Delegation by ALPA........................................................................ 51

85.......... Delegation by Board......................................................................... 51

86.......... Subdelegation by CEO...................................................................... 52

87.......... Disclosure of information to Australian Renewable Energy Agency or Clean Energy Finance Corporation           52

88.......... Review of operation of Act............................................................... 52

89.......... Regulations....................................................................................... 53

 



A Bill for an Act to establish the Australian Local Power Agency, and for related purposes

The Parliament of Australia enacts: