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Northern Australia Infrastructure Facility Amendment (Extension and Other Measures) Bill 2021

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2019-2020-2021

 

THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA

 

HOUSE OF REPRESENTATIVES

 

Northern Australia Infrastructure Facility Amendment

(Extension and Other Measures) Bill 2021

 

correction to the

explanatory memorandum

 

CLAUSE 3 SCHEDULES

 

Item 11, third line —omit ‘ In particular, the Facility is prohibited from providing financial assistance in the form of equity investments to entities which are corporations to which paragraph 51(xx) of the Constitution applies’ , substitute ‘ It is not a function of the Facility to provide financial assistance in the form of equity investments solely on the basis that an entity is a corporation to which paragraph 51(xx) of the Constitution applies. The Facility may provide financial assistance in the form of equity investments to such corporations if the financial assistance is made with respect to matters listed in paragraphs 7(1A)(a)-(e) and (g)-(j) ’ to clarify the intent of the explanatory memorandum.

Item 12, fifth line —omit ‘ and precludes the making of equity investments under this constitutional power ’, as it is no longer required due to the above clarification.

 

(Circulated by authority of the Minister for Resources,

Water and Northern Australia, the Honourable Keith Pitt MP)