Document ID: chunk:federal_register_of_legislation:C2023C00318:section:63
Version: federal_register_of_legislation:C2023C00318
Segment Type: section
Provision Reference: s 63
Character Range: 50477–52580

63  Investment functions
 (1) The Corporation's investment functions are:
 (a) to provide financial accommodation to constitutional corporations, where the financial accommodation satisfies the following conditions:
 (i) the financial accommodation is for purposes relating to any of the priority areas of the Australian economy;
 (ii) the financial accommodation assists the constitutional corporation in carrying out its activities; and
 (b) to provide financial accommodation to entities (other than constitutional corporations, States or Territories) or individuals, where the financial accommodation satisfies the following conditions:
 (i) the financial accommodation is for purposes relating to any of the priority areas of the Australian economy;
 (ii) the financial accommodation assists the entity or individual in carrying out constitutionally‑supported activities; and
 (c) to acquire equity interests in entities that satisfy the following conditions:
 (i) any of the entity's activities are in a priority area of the Australian economy;
 (ii) all of the entity's activities are constitutionally‑supported activities; and
 (d) to provide financial accommodation to the States and Territories, where the financial accommodation satisfies the following conditions:
 (i) the financial accommodation is for purposes relating to any of the priority areas of the Australian economy;
 (ii) the financial accommodation is provided by way of the grant of financial assistance to the State or Territory.

Subsidiaries
 (2) The Corporation may perform its investment functions itself or through subsidiaries.

Prohibited investments
 (3) An investment of a Corporation body must not:
 (a) directly finance the extraction of coal or natural gas; or
 (b) directly finance the construction of pipeline infrastructure primarily for the extraction of natural gas; or
 (c) directly finance the logging of native forests.
 (4) In this section:
native forest does not include a plantation.
plantation means an intensively managed stand of trees that is created by the regular placement of seedlings or seed.