Federal Register of Legislation - Australian Government

Primary content

Rules/Other as made
This instrument amends the Public Governance, Performance and Accountability Rule 2014 (section 5 and Schedule 1) to address governance changes to three Commonwealth bodies.
Administered by: Finance
Registered 20 Jun 2017
Tabling HistoryDate
Tabled HR22-Jun-2017
Tabled Senate08-Aug-2017
Date of repeal 02 Jul 2017
Repealed by Division 1 of Part 3 of Chapter 3 of the Legislation Act 2003
Table of contents.

 

Public Governance, Performance and Accountability Amendment (Infrastructure and Project Financing Agency and Other Measures) Rules 2017

I, Mathias Cormann, Minister for Finance, make the following rules.

Dated   13 June 2017

Mathias Cormann

Minister for Finance

 

  

  


Contents

1............ Name............................................................................................................................. 1

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

3............ Authority....................................................................................................................... 1

4............ Schedules...................................................................................................................... 1

Schedule 1—Amendments                                                                                                                          2

Public Governance, Performance and Accountability Rule 2014                                               2

 


1  Name

                   This instrument is the Public Governance, Performance and Accountability Amendment (Infrastructure and Project Financing Agency and Other Measures) Rules 2017.

2  Commencement

             (1)  Each provision of this instrument 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 instrument

1 July 2017.

1 July 2017

Note:          This table relates only to the provisions of this instrument as originally made.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

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

3  Authority

                   This instrument is made under the Public Governance, Performance and Accountability Act 2013.

4  Schedules

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

Schedule 1Amendments

  

Public Governance, Performance and Accountability Rule 2014

1  After paragraph 5(2)(e)

Insert:

                      (f)  Australian Naval Infrastructure Pty Ltd (ACN 051 762 639);

2  Clause 11A of Schedule 1

Repeal the clause, substitute:

11A  Infrastructure and Project Financing Agency

                   For the purposes of the finance law:

                     (a)  the following group of persons is a listed entity:

                              (i)  the person occupying, or performing the duties of, the office known as the Chief Executive Officer of the Infrastructure and Project Financing Agency (the IPFA);

                             (ii)  persons engaged under the Public Service Act 1999 to assist in the performance of the functions of the IPFA; and

                     (b)  the listed entity is to be known as the IPFA; and

                     (c)  the Chief Executive Officer of the IPFA is the accountable authority of the listed entity; and

                     (d)  the persons referred to in paragraph (a) are officials of the listed entity; and

                     (e)  the purposes of the listed entity include the following:

                              (i)  to assist relevant portfolio ministers and agencies in the early identification of transformative economic infrastructure projects where innovative financing could form part of any future Commonwealth Government investment;

                             (ii)  to assist relevant portfolio ministers and agencies to develop and assess financing options, including through early‑stage engagement in the development of business cases with project proponents;

                            (iii)  to assist relevant portfolio ministers and agencies to broker financing arrangements and in the ongoing commercial management of those investments as appropriate;

                            (iv)  to provide stand‑alone advice to the Cabinet on suitable financing options and associated benefits and risks, for all projects seeking Commonwealth funding or financing for economic infrastructure projects;

                             (v)  to provide a stand‑alone report to the Cabinet on all innovative financing opportunities for transformative economic infrastructure, including those that could be further considered by relevant portfolio ministers and Infrastructure Australia, on a quarterly basis.