Document ID: chunk:federal_register_of_legislation:C2024C00824:section:9
Version: federal_register_of_legislation:C2024C00824
Segment Type: section
Provision Reference: s 9
Character Range: 25734–26911

9  Ministerial directions to EFIC
 (1) Except as expressly provided by this Act, EFIC is not subject to direction by either of the responsible Ministers.
 (2) The responsible Ministers may give written directions to EFIC with respect to the performance of its functions or the exercise of its powers if the responsible Ministers are satisfied that it is desirable in the public interest that the directions be given.
 (3) EFIC must comply with any direction under subsection (2).
 (4) Particulars of directions under subsection (2) are to be included in the annual report of EFIC in accordance with subsection 85(2).
 (5) Subsection (2) is not intended to authorise a direction:
 (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.
 (6) Subsection (5) does not apply in relation to:
 (a) EFIC's Northern Australia economic infrastructure functions; or
 (b) EFIC's Commonwealth entities function.