Helen Haines (Indi, Independent) Share this | Hansard source

by leave—on behalf of the member for Warringah, I move amendments (1) to (3) together:

(1) Title, page 1 (lines 1 and 2), omit "Export Finance and Insurance Corporation Act 1991", substitute "law relating to the Export Finance and Insurance Corporation".

(2) Page 7 (after line 16), at the end of the Bill, add:

Schedule 3 — Fossil fuels

Export Finance and Insurance Corporation Act 1991

1 Subsection 3(1)

Insert:

fossil fuel-based infrastructure:

(a) subject to paragraph (b), includes infrastructure for:

(i) the extraction or transportation of fossil fuels; or

(ii) fossil fuel-based electricity generation; and

(b) does not include electricity transmission infrastructure.

fossil fuels includes any of the following:

(a) coal;

(b) oil and other petroleum-based products;

(c) natural gas;

(d) products, by-products and wastes from extracting or processing fossils fuels to which paragraphs (a) to (c) apply.

2 Subsection 3(1) (definition of Northern Australia economic infrastructure )

Repeal the definition, substitute:

Northern Australia economic infrastructure:

(a) subject to paragraph (b), has the same meaning as in the Northern Australia Infrastructure Facility Act 2016; and

(b) does not include fossil fuel-based infrastructure.

3 Subsection 3(1) (definition of overseas infrastructure development )

After "of infrastructure", insert "(other than fossil fuel-based infrastructure)".

4 Before section 81

Insert:

80A Prohibition on assistance for fossil fuel-based infrastructure

(1) Assistance must not be provided under this Act if the assistance is for purposes relating to, or is expected to result in, the development of fossil fuel-based infrastructure.

(2) It must be a condition of any assistance provided under this Act that the assistance not be used (whether directly or indirectly) for the development of fossil fuel-based infrastructure.

(3) Assistance includes a guarantee, indemnity, loan, insurance, reinsurance, financial service, financial product, subsidy or investment.

(3) Page 7 (after line 16), at the end of the Bill, add:

Schedule 4 — Freedom of Information Act 1982

Freedom of Information Act 1982

1 Division 1 of Part II of Schedule 2 (item dealing with Export Finance and Insurance Corporation)

Omit "4 or".

2 Application of amendments

The amendment made this Schedule does not apply to documents brought into existence before the commencement of this item.

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