Scott Ryan (President) Share this | Hansard source

The question is that the amendments on sheets 1248 and 1273 be agreed to.

Opposition's circulated amendments—

SHEET 1248

(1) Schedule 1, page 4 (after line 15), after item 5, insert:

5A Section 5 (after paragraph (d) of the definition of Northern Australia )

Insert:

(da) the Territory of Christmas Island;

(db) the Territory of Cocos (Keeling) Islands;

(2) Schedule 1, page 4 (after line 19), after item 6, insert:

6A Section 5 (paragraph (f) of the definition of Northern Australia)

Omit "paragraphs (a) to (d)", substitute "paragraphs (a) to (db)".

_____

SHEET 1273

(1) Schedule 1, page 8 (before line 15), before item 22, insert:

21B After section 10

Insert:

10A Matters covered by Investment Mandate—portfolio benchmark return

(1) Without limiting section 10, the Investment Mandate must include directions that require the Facility to apply a portfolio benchmark return in relation to decisions to provide financial assistance.

(2) The portfolio benchmark return must only be applied to for-profit projects.

(3) The portfolio benchmark return must be applied together with any directions included in the Investment Mandate relating to risk.

(4) The portfolio benchmark return must:

(a) include a target rate of return that is an average return over the medium to long term, of at least the sum of the five-year Australian Government bond rate and 3% per annum; and

(b) be calculated before operating expenses; and

(c) be calculated with reference to the performance of for-profit projects individually and in aggregate.