Document ID: chunk:federal_register_of_legislation:F2023L01671:schedule:1:p2
Version: federal_register_of_legislation:F2023L01671
Segment Type: schedule
Provision Reference: sch 1 (pt 2/3)
Character Range: 33946–37752

Government Areas of Meekatharra, Wiluna and Ngaanyatjarraku which have boundaries intersecting with the Tropic of Capricorn. Territorial seas up to 12 nautical miles offshore adjacent to these areas are also included in the definition.

                                                                                                                                                         Projects do not need to be entirely within these boundaries if they produce significant benefits to Northern Australia. For example, a Project enhancing north-south connectivity may be eligible.

  4.      For financial assistance in the form of loans—the loan will be able to be repaid, or refinanced.                                               The Project Proponent must present comprehensive financial modelling to demonstrate the ability of the Project to repay the debt in full and on time, or refinance, based on assumptions and risk profile acceptable to the Facility having regard to the Risk Appetite Statement.

  5.      Indigenous Engagement Strategy.                                                                                                                For Projects not solely in the Indian Ocean Territories, the Project Proponent must provide an Indigenous Engagement Strategy which sets out objectives for Indigenous participation, procurement, training and employment to improve outcomes for the Indigenous population in the region of the proposed Project. These objectives should be designed in partnership with local Indigenous people, where feasible and where agreement can reasonably be reached. The Strategy must contain details of Indigenous procurement and employment plans demonstrating a commitment to Indigenous communities.

                                                                                                                                                         For Projects not solely in the Indian Ocean Territories, Project Proponents should demonstrate the contribution their Project and its implementation will make to improving outcomes for Indigenous communities.

                                                                                                                                                         Project Proponents of Projects taking place largely or entirely within the Indian Ocean Territories must provide a Local Employment and Procurement Strategy, outlining local employment and procurement targets, and the plan to deliver those targets.

                                                                                                                                                         The Project Proponent must agree to report regularly, as required by the Facility, on achievements against the objectives set out in its Indigenous Engagement Strategy or Local Employment and Procurement Strategy, including participation, procurement, training and employment outcomes. The Facility must provide guidance to the Project Proponent to ensure reported data can be aggregated across its portfolio of investments.

  6.      If an Alternative Financing Mechanism is provided in the form of equity or equity‑like investment, this will generate a return to Government.  The Project Proponent must present comprehensive financial modelling to demonstrate the ability of the Project to meet or exceed the Target Portfolio Return.

                                                                                                                                                         Based on its own assessments and modelling provided by the Project Proponent, the Facility must be satisfied there will be opportunities or mechanisms for the Facility to exit or monetise the equity investment within the medium to long term.