National Reconstruction Fund Corporation Bill 2023

The majority voted against Opposition amendments, which means they failed.

Amendment text

SHEET 1821

(1) Clause 6, page 10 (lines 26 to 30), omit the clause, substitute:

6 Priority areas of the Australian economy

(1) Each of the following areas of the Australian economy is a priority area of the Australian economy to enhance sovereign manufacturing capability for the purposes of this Act:

(a) resources technology and critical minerals processing;

(b) food, fibre and beverage;

(c) medical products;

(d) recycling and clean energy;

(e) defence;

(f) space.

(2) In addition, the Ministers may, by legislative instrument, declare that each area of the Australian economy specified in the declaration is a priority area of the Australian economy for the purposes of this Act.

SHEET 1824

(1) Clause 71, page 44 (after line 18), at the end of the clause, add:

(4) A direction under subsection (1) does not come into effect until it has been approved by resolution of each House of the Parliament.

SHEET 1825

(1) Heading to clause 82, page 50 (line 10), omit the heading, substitute:

82 Publication and tabling of investment reports

(2) Clause 82, page 50 (before line 11), before subclause (1), insert:

Publication of investment reports by the Corporation

(3) Clause 82, page 51 (after line 9), after subclause (1), insert:

(1A) The Corporation must, within one month after the end of each quarter, give a copy of the report for that quarter to the Minister.

(4) Clause 82, page 51 (after line 14), at the end of the clause, add:

Tabling of investment reports by the Minister

(3) The Minister must cause a copy of each report given to the Minister under subsection (1A) to be tabled in each House of the Parliament no later than the 3 sitting days of that House after the report is given to the Minister.

SHEET 1829

(1) Clause 91, page 56 (line 29), omit "review is completed", substitute "report is given to the nominated Minister".

(2) Clause 91, page 57 (lines 2 and 3), omit "5 years", substitute "1 year".

(3) Clause 91, page 57 (line 6), omit "5 years", substitute "1 year".

(4) Clause 91, page 57 (lines 8 to 10), omit subclause (7), substitute:

(7) For the purposes of subsections (5) and (6), a review is completed when the report of the review is tabled in each House of the Parliament under subsection (4).

SHEET 1841

(1) Clause 82, page 50 (line 20), at the end of paragraph (1)(a), add:

and (iv) the name of the constitutional corporation;

(2) Clause 82, page 50 (line 28), at the end of paragraph (1)(b), add:

and (iv) the name of the entity or individual;

(3) Clause 82, page 51 (line 2), at the end of paragraph (1)(c), add:

and (iv) the name of the entity;

(4) Clause 82, page 51 (line 6), at the end of paragraph (1)(d), add:

and (iii) the State or Territory to which the financial accommodation was provided;