Document ID: chunk:federal_register_of_legislation:F2023L01671:clause:2_20
Version: federal_register_of_legislation:F2023L01671
Segment Type: clause
Provision Reference: sch 2 cl 20
Character Range: 24841–26840

20  Corporate governance
 (1) The Facility must have regard to Australian best practice government governance principles and relevant Australian best practice corporate governance for Commercial Financiers, when performing its functions, including developing and annually reviewing policies with regard to:
 (a) environmental issues; and
 (b) social issues; and
 (c) climate and transition risks; and
 (d) shared risk; and
 (e) governance issues.
 (2) The Facility must, as part of its annual report, report on the non-financial outcomes of its Investment Decisions, including how it has developed or enhanced Northern Australian economic infrastructure, public benefits to the broader economy and community and Indigenous participation.
 (3) Within 30 business days of the conclusion of the Minister's consideration period under section 11 of the Act, for a proposal by the Facility to provide financial assistance, the Facility must publish information regarding the relevant Investment Decision on its website, including (except information subject to commercial confidentiality):
 (a) the name of the Project Proponent; and
 (b) the nature of investment; and
 (c) the Project location; and
 (d) the type of financial assistance offered by the Facility; and
 (e) the amount of the financial assistance offered by the Facility; and
 (f) the description of the public benefit; and
 (g) any additional information called for by reporting guidance issued by the Finance Department.
 (4) The Facility must publish guidance on its website on:
 (a) the format of an Investment Proposal; and
 (b) the Facility's processes for making decisions on whether to offer financial assistance for Projects; and
 (c) any other matters it considers necessary.
 (5) Within 30 days of an Investment Decision, the Facility must publish a summary of the Project Proponent's Indigenous Engagement Strategy or, for a project in the Indian Ocean Territories, the Local Employment and Procurement Strategy on its website.