Wednesday, 3 April 2019
Export Finance and Insurance Corporation Amendment (Support for Infrastructure Financing) Bill 2019; Second Reading
The question now is that the amendments on sheets 8673 and 8674 circulated by Senator Storer be agreed to.
Senator Storer's circulated amendments—
Amdt – 8673 Export Finance and Insurance Corporation Amendment (Support for Infrastructure Financing) Bill 2019
(1) Schedule 1, item 2, page 3 (after line 14), after the definition of Australian benefit, insert:
Climate Change Conventions means:
(a) the United Nations Framework Convention on Climate Change, done at New York on 9 May 1992, as amended and in force for Australia from time to time; and
(b) the Paris Agreement, done at Paris on 12 December 2015, as amended and in force for Australia from time to time; and
(c) an international agreement, signed on behalf of Australia, that:
(i) relates to climate change; and
(ii) is specified in a legislative instrument made by the Minister for the purposes of this definition.
Note: The Convention and the Agreement are in Australian Treaty Series 1994 No. 2 ( ATS 2) and 2016 No. 24 ( ATS 24), respectively. In 2019 they could be viewed in the Australian Treaties Library on the AustLII website (http://www.austlii.edu.au).
(2) Schedule 1, page 4 (after line 10), after item 4, insert:
4A At the end of subsection 8 ( 2 )
and; (c) perform its functions in a manner consistent with achieving the aims and objectives of the Climate Change Conventions, including Australia's obligations under those Conventions.
Amdt – 8674 Export Finance and Insurance Corporation Amendment (Support for Infrastructure Financing) Bill 2019
(1) Schedule 1, item 2, page 3 (lines 20 and 23), omit the definition of overseas infrastructure financing, substitute:
overseas infrastructure financing means lending money to support overseas infrastructure development, if EFIC reasonably believes that:
(a) lending the money is likely to result in an Australian benefit; and
(b) the legal, administrative and policy framework that would apply to the overseas infrastructure development is suitable.
Note: Lending money includes providing finance, or providing a financial accommodation, in any form: see subsection (2).
(2) Schedule 1, item 5, page 4 (lines 11 to 18), omit the item, substitute:
5 At the end of section 8
EFIC ' s overseas infrastructure financing functions
(4) Subsection (1) and subparagraph (2)(b)(i) do not apply in relation to EFIC's overseas infrastructure financing functions.