Document ID: chunk:federal_register_of_legislation:F2023L01023:body:0:p1
Version: federal_register_of_legislation:F2023L01023
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Character Range: 0–3036

Clean Energy Finance Corporation Investment Mandate Direction 2023

We, CHRIS BOWEN, Minister for Climate Change and Energy, and KATY GALLAGHER, Minister for Finance, give this direction under subsection 64(1) of the Clean Energy Finance Corporation Act 2012.

Dated   20th July    2023

CHRIS BOWEN       KATY GALLAGHER
Minister for Climate Change and Energy    Minister for Finance

Part 1  Preliminary

     1. Name of Direction

This direction is the Clean Energy Finance Corporation Investment Mandate Direction 2023.
    2.             Commencement

This direction commences on the day after it is registered on the Federal Register of Legislation.
         Note: Section 42 of the Legislation Act 2003 (which deals with the disallowance of legislative instruments) does not apply to this instrument: see section 44 of that Act and section 9 of the Legislation (Exemptions and Other Matters) Regulation 2015. Part 4 of Chapter 3 of that Act (which deals with the sunsetting of legislative instruments) does not apply to this instrument: see section 54 of that Act and section 11 of the Legislation (Exemptions and Other Matters) Regulation 2015.
    3.             Authority

This direction is made under subsection 64(1) of the Act.
    4.             Definitions

In this direction:
Act means the Clean Energy Finance Corporation Act 2012.

Advancing Hydrogen Fund means the fund referred to in subsection 16(2) of this direction.

Clean Energy Innovation Fund means the fund referred to in subsection 16(1) of this direction.
General Portfolio means investments other than those referred to in sections 15 and 16.
Household Energy Upgrades Fund means the fund referred to in subsection 16(4) of this direction.
Powering Australia Technology Fund means the fund referred to in subsection 16(3) of this direction.
Rewiring the Nation Fund means the fund referred to in section 15 of this direction.
Specialised Investment Fund means each of the Advancing Hydrogen Fund, Clean Energy Innovation Fund, Powering Australia Technology Fund and Household Energy Upgrades Fund referred to in section 16 of this direction.
Sub-Funds means each Specialised Investment Fund and the Rewiring the Nation Fund.
         Note: Unless the contrary intention appears, words and expressions used in this direction have the same meaning as they have, from time to time, in the Act: see subsection 14(1)(b) of the Legislation Act 2003.

Part 2  Direction

    5.             Purpose

The Board must perform its investment function to deliver on the object of the Act, namely to facilitate increased flows of finance into the clean energy sector and to facilitate the achievement of Australia's greenhouse gas emissions reduction targets. This includes:
        (a)   investing in businesses or projects for the development or commercialisation of, or in relation to the use of, clean energy technologies; and
        (b)   investing in businesses that supply goods or services needed to develop or commercialise, or needed for use