Document ID: chunk:federal_register_of_legislation:F2023L01671:schedule:1:p1
Version: federal_register_of_legislation:F2023L01671
Segment Type: schedule
Provision Reference: sch 1 (pt 1/3)
Character Range: 28499–34362

Schedule 1—Eligibility criteria for financial assistance

To be eligible for financial assistance, the Facility must be satisfied that the Investment Proposal meets all applicable Mandatory Criteria:

Mandatory Criteria                                                                                                                                       Description
   1. The Project involves development or enhancement of Northern Australia economic infrastructure.                                                     The Facility must be satisfied the Project incorporates, or will incorporate, the development or enhancement of physical structures, assets (including moveable assets), technology or facilities which underpin, facilitate or are associated with:

                                                                                                                                                           (a) the transport or flow of people, goods, services or information; or

                                                                                                                                                           (b) the establishment or enhancement of business activity in a region; or

                                                                                                                                                           (c) an increase in economic activity in a region, including efficiency in developing or connecting markets; or

                                                                                                                                                           (d) an increase in population; or

                                                                                                                                                           (e) an increase in existing local workforce availability or capability.

                                                                                                                                                         The Project must either bring new capacity online or represent material modernisation which enhances or improves existing capacity.

                                                                                                                                                         The Project may involve the Project Proponent:

                                                                                                                                                             (a)   conducting a program of works over a specified time involving expenditure or procurement for the development or enhancement of economic infrastructure; or
                                                                                                                                                             (b)   providing financing that facilitates the development or enhancement of economic infrastructure.

                                                                                                                                                         The refinancing of existing debt without the creation of new capacity, is ineligible.

  2.      The Project will be of public benefit.                                                                                                         The Facility must be satisfied the Project will produce benefits to the broader economy and community beyond an economic return to the Project Proponent. Such benefit could include, but is not limited to:

                                                                                                                                                                * providing a basis for economic growth in the region or community such as by providing local employment opportunities (especially employment opportunities for Indigenous people), growing regional income, increasing sovereign capability, providing local procurement opportunities (including Indigenous procurement opportunities), or increasing business for local suppliers; or

                                                                                                                                                                * stimulating population growth by improving regional or community access to social infrastructure, for example social or affordable housing, or by increasing regional or community liveability or living standards.

                                                                                                                                                         The expected value of the public benefit must exceed the estimated value of any concessions offered.

  3.      The Project is located in, or will have a significant benefit for, Northern Australia.                                                         Northern Australia is defined in the Act. It includes all of the Northern Territory, those parts of Queensland and Western Australia above the Tropic of Capricorn, and the Indian Ocean Territories.

                                                                                                                                                         It also includes areas intersecting with the Tropic of Capricorn and the regional centres of Gladstone (Queensland), Carnarvon (Western Australia) and Exmouth (Western Australia), as well as the Local 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