Slade Brockman (WA, Deputy-President) Share this | Hansard source

I will now deal with amendments circulated by the Australian Greens. The question is that the amendments on sheets 3755, 3756 and 3757 be agreed to.

Australian Greens' circulated amendments—

SHEET 3755

(1) Clause 2, page 2 (at the end of the table), add:

(2) Page 14 (after line 30), at the end of the Bill, add:

Schedule 2 — Reversing Part 1 Schedule 1 amendments after 6 months

Export Finance and Insurance Corporation Act 1991

1 Subsection 3(1)

Repeal the following definitions:

(a) definition of EFIC's Strategic Reserve function;

(b) definition of Resources Minister;

(c) definition of SR arrangement;

(d) definition of strategic material.

2 Subsection 3(6)

Repeal the subsection.

3 Paragraph 3B(m)

Omit "business;", substitute "business.".

4 Paragraphs 3B(n) and (o)

Repeal the paragraphs.

5 Section 3C (heading)

Omit ", or SR arrangements,".

6 Subsection 3C(1)

Omit "provides a financial service or product, or enters into an SR arrangement,", substitute "or provides a financial service or product,".

7 Subsection 3C(2)

Omit "the financial service or product is provided, or the SR arrangement is entered into,", substitute "or the financial service or product is provided,".

8 Paragraph 7(1)(dh)

Repeal the paragraph.

9 Subsection 7(4)

Repeal the subsection.

10 Subsection 8(7)

Repeal the subsection.

11 Paragraphs 9(5)(a) and (b)

Repeal the paragraphs, substitute:

(a) requiring any Minister's approval of the entry by EFIC into a particular contract or the giving by EFIC of a particular guarantee or the making of a particular loan; or

(b) giving any Minister power to determine that EFIC is or is not to enter into a particular contract, give a particular guarantee or make a particular loan.

12 At the end of section 23

Add:

(5) In addition, EFIC must not lend money in the form of an equity investment under this section unless an application for the loan has been referred to the Minister under section 25.

Note: A direction under section 26 may prevent such applications from being referred to the Minister. EFIC cannot lend money under this section in those circumstances.

13 At the end of section 23A

Add:

(4) In addition, EFIC must not lend money in the form of an equity investment under this section unless the application for the loan has been referred to the Minister under section 25.

Note: A direction under section 26 may prevent such applications from being referred to the Minister. EFIC cannot lend money under this section in those circumstances.

14 Section 23BA

Repeal the section.

15 Paragraph 25(1)(c)

Omit "Part 4; or", substitute "Part 4.".

16 Paragraph 25(1)(d)

Repeal the paragraph (including the note).

17 Subsection 25(4)

Repeal the subsection.

18 Subsections 27(4C) and (4D)

Repeal the subsections.

19 Subsections 27(8) and (9)

Omit "make a loan, or enter into an SR arrangement,", substitute "or make a loan".

20 Paragraph 28(c)

Omit "given; and", substitute "given.".

21 Paragraph 28(d)

Repeal the paragraph.

22 Subsection 29(3A)

Repeal the subsection.

23 Paragraph 29(5)(c)

Omit "given; or", substitute "given.".

24 Paragraph 29(5)(d)

Repeal the paragraph.

25 Subsections 29(8) and (9)

Omit "", make a loan, or enter into an SR arrangement,", substitute "or make a loan,".

26 Subsection 30(1)

Repeal the subsection, substitute:

(1) Where EFIC enters into a contract, gives a guarantee or makes a loan in accordance with an approval or direction under this Part, EFIC must cause notice of the contract, guarantee or loan to be published in the Gazette.

27 Paragraph 30(2)(c)

Omit "lent;", substitute "lent.".

28 Paragraph 30(2)(d)

Repeal the paragraph.

29 Subsection 30(4)

Repeal the subsection, substitute:

(4) A notice under subsection (1) must not state the name of any of the parties to a contract or of any person in respect of whom a guarantee has been given by EFIC.

30 Paragraph 54(9)(c)

Omit "liability; and", substitute "liability.".

31 Paragraph 54(9)(d)

Repeal the paragraph.

32 Paragraph 56(2)(c)

Omit "matter; and", substitute "matter.".

33 Paragraph 56(2)(d)

Repeal the paragraph.

34 Section 66AA

Repeal the section.

35 Section 67

Repeal the section, substitute:

67 Subsidy to EFIC

(1) The Minister may determine in writing principles according to which the Commonwealth will pay to EFIC a subsidy in respect of contracts entered into, guarantees given, or loans made by EFIC in relation to eligible export transactions or in relation to overseas infrastructure development.

(2) Where a contract has been entered into, a guarantee given, or a loan made, by EFIC in connection with an eligible export transaction or in connection with overseas infrastructure development, EFIC is entitled to be paid by the Commonwealth such amount (if any) by way of subsidy as is payable according to the principles in force under subsection (1).

36 Paragraph 84A(1)(b)

Omit "function;", substitute "function.".

37 Paragraph 84A(1)(c)

Repeal the paragraph.

38 Paragraph 87(6)(c)

Omit "Act; or", substitute "Act.".

39 Paragraph 87(6)(d)

Repeal the paragraph.

40 Subsection 88(1) (paragraph (c) of the definition of application )

Omit "EFIC; or", substitute "EFIC.".

41 Subsection 88(1) (paragraph (d) of the definition of application )

Repeal the paragraph.

42 Subsection 88(1) (paragraph (c) of the definition of claim )

Omit "EFIC; or", substitute "EFIC.".

43 Subsection 88(1) (paragraph (d) of the definition of claim )

Repeal the paragraph.

44 Paragraph 89(1)(c)

Omit "EFIC; or", substitute "EFIC.".

45 Paragraph 89(1)(d)

Repeal the paragraph.

46 Transitional provision — subsection 67(1) Determination

A determination that was in force under subsection 67(1) of the Export Finance and Insurance Corporation Act 1991 immediately before the commencement of this item continues in force (and may be dealt with) on and after that commencement as if it had been made under subsection 67(1) of that Act as substituted by this Schedule.

_____

SHEET 3756

(1) Schedule 1, item 1, page 3 (line 29), at the end of paragraph (c) of the definition of strategic material in subsection 3(1), add:

; and (iii) is of a kind prescribed by the regulations for the purposes of this subparagraph.

_____

SHEET 3757

(1) Schedule 1, item 1, page 3 (lines 15 to 17), omit paragraph (a) of the definition of strategic material in subsection 3(1), substitute:

(a) a thing that:

(i) is specified in the list titled Critical Minerals List published by the Department administered by the Resources Minister, as existing from time to time; and

(ii) is not within the scope of Part 1 of the Defence and Strategic Goods List (within the meaning of the Defence Trade Controls Act 2012); or

(2) Schedule 1, item 1, page 3 (line 25), after "any material, good, or other thing,", insert "that is not within the scope of Part 1 of the Defence and Strategic Goods List (within the meaning of the Defence Trade Controls Act 2012) and is".