Document ID: chunk:federal_register_of_legislation:C2024A00120:clause:1_23b
Version: federal_register_of_legislation:C2024A00120
Segment Type: clause
Provision Reference: sch 1 cl 23B
Character Range: 7162–8335

23B  Services and products to support EFIC's national economy and net zero transformation functions
 (1) EFIC may do one or more of the following for the purposes of EFIC's national economy and net zero functions:
 (a) enter into a contract of insurance or indemnity;
 (b) give a guarantee;
 (c) make a loan.
Note: A reference to a loan or to the lending of money includes a reference to the provision of finance, the provision of a financial accommodation or the making of equity investments, in any form: see subsection 3(2).
 (2) However, EFIC must not provide a service or product under this section unless an application for the service or product has been referred to the Minister under section 25.
Note 1: A direction under section 26 may prevent such applications from being referred to the Minister. EFIC cannot provide support under this section in those circumstances.
Note 2: The Future Made in Australia Act 2024 may also prevent the provision of a service or product under this section in certain circumstances: see paragraph 10(2)(b) and section 10A of that Act (Future Made in Australia support not to be provided for coal, natural gas or crude oil etc.).