Federal Register of Legislation - Australian Government

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A Bill for an Act to amend the Export Finance and Insurance Corporation Act 1991, and for related purposes
Administered by: Foreign Affairs and Trade
For authoritative information on the progress of bills and on amendments proposed to them, please see the House of Representatives Votes and Proceedings, and the Journals of the Senate as available on the Parliament House website.
Registered 09 Nov 2016
Introduced HR 09 Nov 2016
Table of contents.

2016

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

Export Finance and Insurance Corporation Amendment (Support for Commonwealth Entities) Bill 2016

 

No.      , 2016

 

(Foreign Affairs and Trade)

 

 

 

A Bill for an Act to amend the Export Finance and Insurance Corporation Act 1991, and for related purposes

  

  


Contents

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

2............ Commencement................................................................................... 1

3............ Schedules............................................................................................ 2

Schedule 1—Amendments                                                                                                3

Export Finance and Insurance Corporation Act 1991                                        3

 

 


A Bill for an Act to amend the Export Finance and Insurance Corporation Act 1991, and for related purposes

The Parliament of Australia enacts:

1  Short title

                   This Act is the Export Finance and Insurance Corporation Amendment (Support for Commonwealth Entities) Act 2016.

2  Commencement

             (1)  Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  The whole of this Act

The day after this Act receives the Royal Assent.

 

Note:          This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

             (2)  Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3  Schedules

                   Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1Amendments

  

Export Finance and Insurance Corporation Act 1991

1  Subsection 3(1)

Insert:

Commonwealth company has the same meaning as in the Public Governance, Performance and Accountability Act 2013.

Commonwealth entity has the same meaning as in the Public Governance, Performance and Accountability Act 2013.

EFIC’s Commonwealth entities function means the function set out in paragraph 7(1)(dc).

2  Subsection 3(3)

Omit all the words after “incidental or related”, substitute “to Australian export trade”.

3  After paragraph 7(1)(db)

Insert:

                   (dc)  as directed by the Minister, to assist Commonwealth entities and Commonwealth companies in performing their functions or achieving their purposes by providing services in relation to financial arrangements and agreements;

4  At the end of section 7

Add:

             (3)  The reference in paragraph (1)(dc) to providing services in relation to financial arrangements and agreements does not include the provision of loans, insurance or guarantees.

5  Subsection 8(3)

Repeal the subsection, substitute:

             (3)  Subsection (1) and subparagraphs (2)(b)(i) and (iii) do not apply in relation to:

                     (a)  EFIC’s Northern Australia economic infrastructure functions; or

                     (b)  EFIC’s Commonwealth entities function.

6  Subsection 9(6)

Omit all the words after “does not apply”, substitute:

                   in relation to:

                     (a)  EFIC’s Northern Australia economic infrastructure functions; or

                     (b)  EFIC’s Commonwealth entities function.

7  Section 84A (heading)

Repeal the heading, substitute:

84A  Fees for certain services

8  Subsection 84A(1)

Omit all the words after “it provides”, substitute:

                   in performing the following:

                     (a)  EFIC’s Northern Australia economic infrastructure functions;

                     (b)  EFIC’s Commonwealth entities function.