Document ID: chunk:federal_register_of_legislation:C2023C00318:section:4
Version: federal_register_of_legislation:C2023C00318
Segment Type: section
Provision Reference: s 4
Character Range: 7816–9448

4  Simplified outline of this Act

         • There is to be a National Reconstruction Fund Corporation.
         • The functions of the Corporation include:
             (a) the Corporation's investment functions; and
             (b) to liaise with relevant persons and bodies, including other Commonwealth entities and State and Territory governments, for the purposes of facilitating the Corporation's investment functions.
         • There is to be a Board of the Corporation and a Chief Executive Officer of the Corporation.
         • The Corporation can engage staff and consultants.
         • The National Reconstruction Fund Corporation Special Account is established.
         • Amounts are to be credited to the Account.
         • The purpose of the Account is to make payments to the Corporation.
         • The Corporation's investment functions are:
             (a) to provide financial accommodation for purposes relating to any of the priority areas of the Australian economy; and
             (b) to acquire equity interests in entities that carry on activities in a priority area of the Australian economy.
         • The Corporation may perform its investment functions itself or through subsidiaries.
         • Each investment of the Corporation must be solely or mainly Australian‑based.
         • The Minister administering this Act and the Finance Minister jointly exercise various powers conferred by this Act in relation to the Corporation.
         • The Corporation is bound by the Investment Mandate given to it by the Ministers.
Note: For the Corporation's investment functions, see section 63.