{"id":"F2025L01577","name":"Export Finance and Insurance Corporation Regulations 2025","slug":"export-finance-and-insurance-corporation-regulations-2025","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":443082,"registerId":"F2025L01577-fast-fetch-1775957992589","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Export Finance and Insurance Corporation Regulations 2025","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\nmeta-keywords: \"[SEC=OFFICIAL]\"\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n![Commonwealth Coat of Arms of Australia](image.001.jpeg)\n\n \n\nExport Finance and Insurance Corporation Regulations 2025\n\nI, the Honourable Sam Mostyn AC, Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.\n\nDated 11 December 2025\n\nSam Mostyn AC\n\nGovernor‑General\n\nBy Her Excellency’s Command\n\nDon Farrell\n\nMinister for Trade and Tourism\n\n \n\n \n\n \n\n \n\n \n\n \n\nContents\n\nPart 1—Preliminary\n\n1 Name\n\n2 Commencement\n\n3 Authority\n\n4 Schedules\n\n5 Definitions\n\nPart 2—Limitations\n\n6 Maximum contingent liability under Part 4 of the Act\n\n7 Limit of total amount of loans under Part 4 of the Act\n\n8 Conversion of amounts in foreign currency\n\nSchedule 1—Repeals\n\nExport Finance and Insurance Corporation Regulations 2018\n\n \n\nPart 1—Preliminary\n\n \n\n1  Name\n\n  This instrument is the Export Finance and Insurance Corporation Regulations 2025.\n\n2  Commencement\n\n (1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.\n\n \n\n- Commencement information\n- Column 1 Column 2 Column 3\n- Provisions Commencement Date/Details\n- 1. The whole of this instrument The day after this instrument is registered. 16 December 2025\n\n\nNote: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.\n\n (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.\n\n3  Authority\n\n  This instrument is made under the Export Finance and Insurance Corporation Act 1991.\n\n4  Schedules\n\n  Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.\n\n5  Definitions\n\n  In this instrument:\n\nAct means the Export Finance and Insurance Corporation Act 1991.\n\nPart 2—Limitations\n\n \n\n6  Maximum contingent liability under Part 4 of the Act\n\n (1) For the purposes of paragraph 68(1)(a) of the Act, the amount prescribed for contracts entered into, and guarantees given under, Part 4 of the Act (other than contracts of insurance entered into under section 22 of the Act) is $5 billion.\n\nNote: Section 8 of this instrument provides for the conversion of amounts in foreign currency.\n\n (2) For the purposes of paragraph 68(1)(b) of the Act, the amount prescribed for contracts of insurance entered into under section 22 of the Act is $2 billion.\n\nNote: Section 8 of this instrument provides for the conversion of amounts in foreign currency.\n\n7  Limit of total amount of loans under Part 4 of the Act\n\n  For the purposes of subsection 69(1) of the Act, the amount prescribed for money lent by EFIC under Part 4 of the Act and not repaid or written off is $6 billion.\n\nNote: Section 8 of this instrument provides for the conversion of amounts in foreign currency.\n\n8  Conversion of amounts in foreign currency\n\n  In calculations for the purposes of paragraph 68(1)(a) or (b) or subsection 69(1) of the Act, an amount in foreign currency is to be converted into Australian currency using:\n\n (a) the most recent exchange rate published by the Reserve Bank of Australia; or\n\n (b) if the amount is in a currency for which the Reserve Bank of Australia does not publish an exchange rate—the current market exchange rate.\n\n \n\nSchedule 1—Repeals\n\n \n\nExport Finance and Insurance Corporation Regulations 2018\n\n1  The whole of the instrument\n\nRepeal the instrument.\n\n \n","sortOrder":0}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"summary":{"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"The instrument remakes the financial limits previously set in the 2018 regulations. It prescribes the same liability and loan caps, with no indication that the dollar thresholds have been altered."},"complexity_factors":["Prescribes simple dollar limits for EFIC's contingent liabilities and loans.","Includes a straightforward rule for converting foreign currency amounts.","Repeals the 2018 regulations and remakes them without substantive change."],"plain_english_summary":"The regulations set statutory exposure caps for Export Finance Australia: a $5 billion limit on contingent liabilities from Part 4 contracts and guarantees, a $2 billion separate cap for national‑interest insurance, and a $6 billion cap on outstanding Part 4 loans. Foreign‑currency amounts convert at the latest RBA or market rate. Replaces the 2018 regulations. This matters to exporters, banks and insurers because the caps constrain EFIC’s capacity to underwrite new transactions."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":true,"description":"Yes. This instrument expressly repeals the Export Finance and Insurance Corporation Regulations 2018 and replaces them with prescribed monetary caps ($5bn for contracts/guarantees, $2bn for insurance contracts, $6bn for outstanding loans) and a specific foreign‑currency conversion rule. That repeal-and-replace structure alters the operative regulatory instrument and its numeric limits compared with the prior regulations."},"complexity_factors":["Direct numeric caps are simple to state but interact with the Export Finance and Insurance Corporation Act 1991 (references to para 68(1)(a)/(b) and subsec 69(1)), requiring reading of the Act to apply the caps.","Distinction between categories (contracts and guarantees versus contracts of insurance under section 22 of the Act) requires correct classification of transactions (s6(1)–(2)).","Foreign‑currency conversion rule relies on the 'most recent' RBA published rate or an undefined 'current market exchange rate', creating minor interpretive uncertainty about timing/source (s8).","Repeal of the 2018 Regulations and replacement by this instrument changes the regulatory text and may require transitional/administrative updates (Schedule 1).","Commencement timing (the day after registration) is immediate and fixed, so affected parties and agencies must implement limits and conversion practice from that date (cl 2)."],"plain_english_summary":"This regulation replaces the previous EFIC regulations and sets explicit monetary caps on the Export Finance and Insurance Corporation’s exposure: $5 billion for contracts and guarantees (excluding certain insurance), $2 billion for insurance contracts, and $6 billion for outstanding loans. It also specifies using the Reserve Bank’s published exchange rate (or a market rate where none is published) to convert foreign‑currency amounts. EFIC, its customers (exporters/borrowers) and ultimately taxpayers are affected because the rules limit and measure government‑backed finance exposure."},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The legislation maintains its original narrow purpose of setting financial caps for EFIC's operations. The 2025 version updates the dollar amounts from the 2018 version but does not expand into new policy areas or functions."},"complexity_factors":["Very short instrument (approximately 1.5 pages of substantive content)","Only 5 defined terms, all straightforward (Act, with implicit references to EFIC)","No nested exceptions or conditional logic — limits are absolute dollar figures","Minimal cross-referencing (only references to specific sections of the parent Act)","Single Schedule containing only a repeal provision","Clear, linear structure: definitions → substantive limits → conversion mechanism → repeal"],"plain_english_summary":"This legislation sets the financial limits for the Export Finance and Insurance Corporation (EFIC), which is the Australian government's export credit agency. EFIC helps Australian businesses sell goods and services overseas by providing loans, insurance, and guarantees against risks like buyers not paying.\n\n**What it does:**\n- **Caps EFIC's financial exposure**: Sets maximum dollar limits on how much risk EFIC can take on:\n  - **$5 billion** for contracts and guarantees (except insurance contracts)\n  - **$2 billion** for insurance contracts specifically\n  - **$6 billion** for total outstanding loans that haven't been repaid\n\n- **Handles foreign currency**: Explains how to convert overseas money into Australian dollars when calculating these limits — using Reserve Bank exchange rates, or market rates if the RBA doesn't publish one for that currency.\n\n- **Repeals old rules**: Scraps the 2018 version of these regulations and replaces them with this 2025 version.\n\n**Who it affects:**\n- Australian exporters seeking government-backed finance or insurance\n- EFIC itself, which must stay within these caps\n- The government, which ultimately backs EFIC's commitments\n\n**Why it matters:**\nThese limits protect taxpayers by preventing EFIC from taking on unlimited risk. They balance supporting Australian trade with prudent financial management. The updated figures reflect current economic conditions and export market needs."}},"importantCases":[],"_links":{"self":"/api/acts/export-finance-and-insurance-corporation-regulations-2025","history":"/api/acts/export-finance-and-insurance-corporation-regulations-2025/history","analysis":"/api/acts/export-finance-and-insurance-corporation-regulations-2025/analysis","conflicts":"/api/acts/export-finance-and-insurance-corporation-regulations-2025/conflicts","importantCases":"/api/acts/export-finance-and-insurance-corporation-regulations-2025/important-cases","documents":"/api/acts/export-finance-and-insurance-corporation-regulations-2025/documents"}}