Document ID: chunk:federal_register_of_legislation:C2004A02553:body:0:p8
Version: federal_register_of_legislation:C2004A02553
Segment Type: other
Provision Reference: 
Character Range: 18826–21896

Act is amended—
      (a) by inserting in sub-section (1) "or an Australian private consortium" after "Australian private organization";
      (b) by omitting from sub-section (1) "an Australian consortium that includes the Corporation" and substituting "a Corporation consortium";
      (c) by inserting in sub-section (2) "or an Australian private consortium" after "Australian private organization" (first occurring);
      (d) by omitting from paragraph (2) (a) "an Australian consortium" and substituting "a Corporation consortium";
      (e) by omitting from paragraph (2) (b) ", authority";
      (f) by inserting in sub-section (2) "or Australian private consortium" after "Australian private organization" (last occurring); and
      (g) by inserting in sub-section (3) "or an Australian private consortium" after "Australian private organization".

24. After section 8 of the Principal Act the following section is inserted:

Corporation not to assist Australian authorities or public consortiums to compete against Australian private organizations or consortiums
"8a. (1) Where the Corporation is aware that an Australian private organization or an Australian private consortium is able and willing to carry out an overseas development project or a part of an overseas development project, the Corporation shall not take any action that would result in that project or that part of the project being carried out, in whole or in part, by an Australian authority or by an Australian public consortium.

"(2) Where the Corporation is aware that it would be possible to form a Corporation consortium, being a consortium in which an Australian private organization or Australian private organizations would be included, that would be able and willing to carry out an overseas development project or a part of an overseas development project, the Corporation shall not take any action that would result in that project or that part of the project being carried out, in whole or in part, by an Australian authority or by an Australian public consortium.".

Corporation not to act as prime contractor except with approval
25. Section 9 of the Principal Act is amended—
      (a) by omitting from paragraph (1) (a) "Australian private organization" and substituting "Australian organization"; and
      (b) by inserting in sub-section (2) "or Australian private consortium" after "Australian private organization".

Powers of Corporation
26. Section 10 of the Principal Act is amended by omitting from paragraph (b) "an Australian private organization or an Australian consortium that includes the Corporation" and substituting "an Australian organization or a Corporation consortium".

27. Section 43 of the Principal Act is repealed and the following section is substituted:

Assessed net commercial risk
"43. (1) In this section, 'assessed net commercial risk', in relation to the Corporation, means the maximum financial liability, as assessed by the Board, that the Corporation might be required to discharge in respect of contracts that have been, or are to be,