{"id":"C2024A00119","name":"Future Made in Australia Act 2024","slug":"future-made-in-australia-act-2024","collection":"act","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"119 of 2024","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":436415,"registerId":"C2024A00119-fast-fetch-1775953619644","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Future Made in Australia Act 2024","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\n---\n\n![Commonwealth Coat of Arms of Australia](image.001.png)\n\n \n\n \n\n \n\n \n\n \n\n \n\nFuture Made in Australia Act 2024\n\nNo. 119, 2024\n\n \n\n \n\n \n\n \n\n \n\nAn Act to unlock investment in a Future Made in Australia, and for related purposes\n\n \n\n \n\n \n\nContents\n\nPart 1—Preliminary\n\n1 Short title\n\n2 Commencement\n\n3 Objects\n\n4 Simplified outline of this Act\n\n5 Definitions\n\nPart 2—National Interest Framework\n\n6 Sector assessments\n\n7 The National Interest Framework\n\n8 Conduct of sector assessments\n\n9 Reporting on sector assessments\n\nPart 3—Provision of Future Made in Australia support\n\n10 The community benefit principles\n\n10A Future Made in Australia support not to be provided for coal, crude oil or natural gas etc.\n\n11 Future Made in Australia plans\n\n11A Reporting on provision of Future Made in Australia support\n\n12 Rules relating to provision of Future Made in Australia support\n\nPart 4—Miscellaneous\n\n13 Delegation by the Secretary\n\n14 Annual report\n\n15 Rules\n\n \n\n![Commonwealth Coat of Arms of Australia](image.002.png)\n\n \n\n \n\nFuture Made in Australia Act 2024\n\nNo. 119, 2024\n\n \n\n \n\n \n\nAn Act to unlock investment in a Future Made in Australia, and for related purposes\n\n[Assented to 10 December 2024]\n\nPreamble\n\n  The Parliament of Australia recognises that the global transition to net zero and the changing geostrategic landscape present a significant opportunity for Australia. By building a more diversified and resilient economy powered by clean energy and creating more secure, well‑paid jobs, Australia can remain an indispensable part of the global economy as the world undergoes the biggest transformation since the industrial revolution.\n\n  Maximising the economic and industrial benefits of this transformation requires attracting and enabling private investment, making Australia a renewable energy superpower, value‑adding to our resources and strengthening economic security, backing Australian innovation and investing in the people, communities and services that will drive our national success.\n\n  The Parliament of Australia believes that the Australian Government can play a key role in encouraging and facilitating the private investment required to harness this opportunity and strengthen trade partnerships. Targeted public investment can also promote the alignment of economic incentives with Australia’s national interests and incentivise private investment at scale in these areas.\n\n  The National Interest Framework will support the Australian Government to make public investments that unlock private investment at scale in the national interest. It will help to assess sectors that can make a significant contribution to emissions reduction at an efficient cost and where Australia could have a sustained comparative advantage and sectors where domestic capability is necessary or efficient to deliver economic resilience and security.\n\n  Community benefit principles will be applied to encourage investment in local communities, domestic industries, supply chains and skills, and promote diverse workforces, secure jobs and tax law compliance. Decision‑makers will be responsible for applying community benefit principles for each Future Made in Australia support and enforcing them appropriately, including through Future Made in Australia plans.\n\n  The coordinated investments that make up the Future Made in Australia agenda will harness Australia’s potential and ensure the benefits are widely shared. This will be underpinned by strong trade partnerships, and a Guarantee of Origin Scheme that certifies renewable electricity and the emissions content of key industrial products and supports, supporting the development of green product standards.\n\n  As part of the Future Made in Australia agenda, a new front door will also be established to make it simpler to invest in Australia and attract more global and domestic capital. It will provide a single point of contact for investors and companies with major, transformational investment proposals, delivering a coordinated approach to investment attraction and facilitation for these projects.\n\nThe Parliament of Australia enacts:\n\nPart 1—Preliminary\n\n \n\n1  Short title\n\n  This Act is the Future Made in Australia Act 2024.\n\n2  Commencement\n\n (1) Each provision of this Act 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 Act The day after this Act receives the Royal Assent. 11 December 2024\n\n\nNote: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.\n\n (2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.\n\n3  Objects\n\n  The objects of this Act are:\n\n (a) to establish a National Interest Framework to support the consideration of, and decision‑making in relation to, significant public investment that unlocks private investment at scale in the national interest; and\n\n (b) to enable the use of the National Interest Framework for sector assessments that analyse the extent to which particular sectors of the Australian economy are ones where:\n\n (i) Australia could have a sustained comparative advantage in a net zero global economy and public investment is likely needed for the sector to make a significant contribution to emissions reduction at an efficient cost; or\n\n (ii) some level of domestic capability is necessary or efficient to deliver economic resilience and security, and the private sector will not deliver the necessary investment in the sector in the absence of government support; and\n\n (c) to ensure that the provision of Future Made in Australia support under other laws considers broad community benefits, in particular by:\n\n (i) promoting safe and secure jobs that are well paid and have good conditions; and\n\n (ii) developing more skilled and inclusive workforces, including by investing in training and skills development and broadening opportunities for workforce participation; and\n\n (iii) engaging collaboratively with and achieving positive outcomes for local communities, such as First Nations communities and communities directly affected by the transition to net zero; and\n\n (iiia) supporting First Nations communities and traditional owners to participate in, and share in the benefits of, the transition to net zero; and\n\n (iv) strengthening domestic industrial capabilities, including through stronger local supply chains; and\n\n (v) demonstrating transparency and compliance in relation to the management of tax affairs, including benefits received under Future Made in Australia supports.\n\n4  Simplified outline of this Act\n\nThis Act establishes the National Interest Framework, a framework to support the consideration of, and decision‑making in relation to, significant public investment that unlocks private investment at scale in the national interest.\n\nThe National Interest Framework consists of the net zero transformation stream and the economic resilience and security stream.\n\nThe Minister may, after consulting appropriate Ministers, direct the Secretary to conduct a sector assessment. A sector assessment is an assessment of a sector of the Australian economy conducted for the purpose of analysing the extent to which the sector aligns with the National Interest Framework in one of those streams, as well as opportunities to address barriers to private investment, in the national interest, in relation to the sector.\n\nA person or body deciding whether certain support (known as Future Made in Australia support) should be provided by the Commonwealth, a Commonwealth entity or a Commonwealth company must have regard to the community benefit principles. Such support may include a grant, loan, indemnity, guarantee, warranty, investment of money or equity investment.\n\nFuture Made in Australia support must not be provided for any of the following activities:\n\n (a) the extraction of coal, crude oil or natural gas;\n\n (b) the construction of infrastructure for the primary purpose of extracting coal, crude oil or natural gas;\n\n (c) directly financing investments for the sole purpose of the use of coal, crude oil or natural gas.\n\nAn applicant for, or recipient of, Future Made in Australia support must have a Future Made in Australia plan in effect in the circumstances prescribed by rules made under this Act.\n\n5  Definitions\n\n  In this Act:\n\nAustralia’s greenhouse gas emissions reduction targets means:\n\n (a) if:\n\n (i) Australia’s current nationally determined contribution was communicated in accordance with Article 4 of the Paris Agreement in June 2022; and\n\n (ii) that nationally determined contribution has not been adjusted in accordance with paragraph 11 of Article 4 of the Paris Agreement;\n\n  the greenhouse gas emissions reduction targets set out in paragraphs 10(1)(a) and (b) of the Climate Change Act 2022; or\n\n (b) in any other case—the greenhouse gas emissions reduction targets included in:\n\n (i) Australia’s current nationally determined contribution communicated in accordance with Article 4 of the Paris Agreement; or\n\n (ii) if that nationally determined contribution has been adjusted in accordance with paragraph 11 of Article 4 of the Paris Agreement—that nationally determined contribution, as adjusted and in force from time to time.\n\nCommonwealth company has the same meaning as in the Public Governance, Performance and Accountability Act 2013.\n\nCommonwealth entity has the same meaning as in the Public Governance, Performance and Accountability Act 2013.\n\ncommunity benefit principles: see subsection 10(3).\n\nFuture Made in Australia Innovation Fund means the program of financial assistance known by that name that is administered by the Australian Renewable Energy Agency under the Australian Renewable Energy Agency Act 2011.\n\nFuture Made in Australia plan: see section 11.\n\nFuture Made in Australia support: see subsection 10(2).\n\nNational Interest Framework means the National Interest Framework established by section 7.\n\nnet zero transformation means achieving Australia’s greenhouse gas emissions reduction targets and contributing to the reduction of global greenhouse gas emissions.\n\nParis Agreement means the Paris Agreement done at Paris on 12 December 2015, as amended and in force for Australia from time to time.\n\nNote: The Paris Agreement is in Australian Treaty Series 2016 No. 24 ([2016] ATS 24) and could in 2024 be viewed in the Australian Treaties Library on the AustLII website (http://www.austlii.edu.au).\n\npersonal information has the same meaning as in the Privacy Act 1988.\n\nrules means rules made under subsection 15(1).\n\nSecretary means the Secretary of the Department.\n\nsector assessment: see subsection 6(2).\n\nPart 2—National Interest Framework\n\n \n\n6  Sector assessments\n\n (1) The Minister may, by notifiable instrument, direct the Secretary to conduct a sector assessment.\n\n (2) A sector assessment is an assessment of a sector of the Australian economy that analyses:\n\n (a) the extent to which the sector aligns with the National Interest Framework under subsection 7(3) or (4); and\n\n (b) opportunities to address barriers to private investment, in the national interest, in relation to the sector.\n\n (3) Before giving a direction under subsection (1), the Minister must consult such Ministers as the Minister considers appropriate.\n\n (4) Without limiting subsection (1), a direction under that subsection may specify the period within which the sector assessment is to be conducted or a report on the assessment is to be given to the Minister (see section 9).\n\n (5) To avoid doubt, subsection (1) applies whether or not a sector assessment has previously been conducted for the sector.\n\n7  The National Interest Framework\n\n (1) The National Interest Framework is established by this section.\n\n (2) The National Interest Framework has the following streams:\n\n (a) the net zero transformation stream;\n\n (b) the economic resilience and security stream.\n\nThe net zero transformation stream\n\n (3) A sector of the Australian economy aligns with the National Interest Framework in the net zero transformation stream if:\n\n (a) the sector could have a sustained comparative advantage in a net zero global economy; and\n\n (b) public investment is likely to be needed for the sector to make a significant contribution to emissions reduction at an efficient cost.\n\nThe economic resilience and security stream\n\n (4) A sector of the Australian economy aligns with the National Interest Framework in the economic resilience and security stream if:\n\n (a) some level of domestic capability in the sector is a necessary or efficient way to deliver economic resilience and security; and\n\n (b) the private sector will not deliver the necessary investment in the sector in the absence of government support.\n\n8  Conduct of sector assessments\n\nMatters to be considered\n\n (1) A sector assessment must consider such of the following matters as the Secretary considers relevant to the conduct of the assessment:\n\n (a) whether Australia could be competitive in the sector;\n\n (b) whether the sector could contribute to an orderly path to net zero transformation, including through the use of renewable energy;\n\n (c) whether the sector could build the capabilities of the Australian people and the regions of Australia, and generate employment opportunities;\n\n (d) whether support for the sector could improve Australia’s economic resilience and security;\n\n (e) whether support for the sector could:\n\n (i) recognise the key role of the private sector; and\n\n (ii) deliver genuine value for money.\n\n (1A) Each sector assessment must also consider the following matters:\n\n (a) the sector’s impacts on demand for fossil fuels (such as coal, crude oil or natural gas), and how those impacts can be managed in a way that is consistent with an orderly path to net zero transformation;\n\n (b) the decarbonisation potential in relevant global supply chains for the sector, including how those supply chains can contribute to the reduction of global greenhouse gas emissions.\n\nMinisterial directions\n\n (2) The Minister may, by legislative instrument, give directions to the Secretary in relation to the conduct of sector assessments.\n\n (3) The directions may include consultation requirements for sector assessments, including requirements in relation to the following:\n\n (a) public consultation;\n\n (b) periods for consultation.\n\nAssessment to be conducted independently\n\n (4) The Minister must not:\n\n (a) give directions under subsection (2) to the Secretary in relation to a particular sector assessment; or\n\n (b) seek to influence a particular sector assessment in any other way.\n\n (5) To avoid doubt, this section does not limit the application of subsection 33(3) of the Acts Interpretation Act 1901 in relation to an instrument made under this Act.\n\nAssistance with sector assessments\n\n (6) For the purposes of conducting a sector assessment, the Secretary may:\n\n (a) consult with any Commonwealth entity; or\n\n (b) arrange for any Commonwealth entity to provide assistance or support.\n\nNote: The Commonwealth entities the Secretary may consult with for the purposes of paragraph (a) include (without limitation) the following:\n\n(a) the Australian Competition and Consumer Commission;\n\n(b) the Climate Change Authority;\n\n(c) the Commonwealth Scientific and Industrial Research Organisation;\n\n(d) Infrastructure Australia;\n\n(e) the Net Zero Economy Agency;\n\n(f) the Productivity Commission.\n\n9  Reporting on sector assessments\n\n (1) After conducting a sector assessment, the Secretary must give the Minister a report on the assessment.\n\n (2) The Minister must cause a copy of the report to be laid before each House of the Parliament within 30 sitting days of that House after the Minister receives the report.\n\n (3) The Minister may redact information from the report if the Minister is satisfied that:\n\n (a) the information is personal information; or\n\n (b) release of the information would, or could reasonably be expected to:\n\n (i) divulge information that is confidential or commercially sensitive; or\n\n (ii) cause damage to the security, defence or international relations of the Commonwealth; or\n\n (iii) cause damage to relations between the Commonwealth and a State or Territory.\n\nPart 3—Provision of Future Made in Australia support\n\n \n\n10  The community benefit principles\n\n (1) A person or body deciding whether Future Made in Australia support should be provided must have regard to the community benefit principles.\n\n (2) Future Made in Australia support is any support provided by the Commonwealth, a Commonwealth entity or a Commonwealth company (including a grant, loan, indemnity, guarantee, warranty, investment of money or equity investment) in relation to which one or more of the following apply:\n\n (a) the support is provided under the Future Made in Australia Innovation Fund;\n\n (b) the support is provided by the Export Finance and Insurance Corporation:\n\n (i) under section 23B of the Export Finance and Insurance Corporation Act 1991; or\n\n (ii) otherwise for the purpose of performing its functions under paragraph 7(1)(df) or (dg) of that Act (which set out the Corporation’s national economy function and net zero function);\n\n (c) the support is identified as Future Made in Australia support under another law of the Commonwealth;\n\n (d) the support is prescribed by the rules for the purposes of this paragraph.\n\nNote: Future Made in Australia support will be provided under other laws.\n\n (3) The community benefit principles are:\n\n (a) that Future Made in Australia support should provide community benefits, in particular by:\n\n (i) promoting safe and secure jobs that are well paid and have good conditions; and\n\n (ii) developing more skilled and inclusive workforces, including by investing in training and skills development and broadening opportunities for workforce participation; and\n\n (iii) engaging collaboratively with and achieving positive outcomes for local communities, such as First Nations communities and communities directly affected by the transition to net zero; and\n\n (iiia) supporting First Nations communities and traditional owners to participate in, and share in the benefits of, the transition to net zero; and\n\n (iv) strengthening domestic industrial capabilities, including through stronger local supply chains; and\n\n (v) demonstrating transparency and compliance in relation to the management of tax affairs, including benefits received under Future Made in Australia supports; and\n\n (b) any other principles specified in the rules for the purposes of this paragraph.\n\n (4) Subsection (1) does not apply to the provision of Future Made in Australia support under a particular law:\n\n (a) to the extent that having regard to the community benefit principles would be inconsistent with that law; or\n\n (b) in circumstances prescribed by the rules for the purposes of this paragraph.\n\n10A  Future Made in Australia support not to be provided for coal, crude oil or natural gas etc.\n\n  Future Made in Australia support must not be provided by the Commonwealth, a Commonwealth entity or a Commonwealth company for any of the following activities:\n\n (a) the extraction of coal, crude oil or natural gas;\n\n (b) the construction of infrastructure for the primary purpose of extracting coal, crude oil or natural gas;\n\n (c) directly financing investments for the sole purpose of the use of coal, crude oil or natural gas.\n\n11  Future Made in Australia plans\n\n (1) A person who applies for, or receives, Future Made in Australia support must, in the circumstances prescribed by the rules, have in effect a plan (a Future Made in Australia plan) that:\n\n (a) relates to the support; and\n\n (b) meets the requirements of subsection (2).\n\n (2) A Future Made in Australia plan must:\n\n (a) be in writing; and\n\n (b) explain how the Future Made in Australia support would provide community benefits consistent with the community benefit principles; and\n\n (c) comply with any requirements prescribed by the rules.\n\n (3) The rules may provide in relation to Future Made in Australia plans, including circumstances in which such a plan comes into effect or ceases to be in effect.\n\n11A  Reporting on provision of Future Made in Australia support\n\nReporting by Commonwealth entities\n\n (1) The accountable authority of a Commonwealth entity must ensure that an annual report prepared under section 46 of the Public Governance, Performance and Accountability Act 2013 for a reporting period for the entity complies with subsection (3) of this section if the entity provides Future Made in Australia support (including on behalf of the Commonwealth) during the period.\n\nReporting by Commonwealth companies\n\n (2) The directors of a Commonwealth company must ensure that the documents given to the responsible Minister under section 97 of the Public Governance, Performance and Accountability Act 2013 for a reporting period for the company include a report that complies with subsection (3) of this section if the company provides Future Made in Australia support during the period.\n\nContent of report\n\n (3) A report described in subsection (1) or (2) that relates to a Commonwealth entity or Commonwealth company must include:\n\n (a) for each person to whom the entity or company provides or commits Future Made in Australia support during the reporting period:\n\n (i) the name of the person; and\n\n (ii) the amount of support provided or committed in the reporting period; and\n\n (b) the amount of all Future Made in Australia support provided or committed by the entity or company in the reporting period.\n\nDefinitions\n\n (4) The following expressions have the same meaning when used in this section as they have in the Public Governance, Performance and Accountability Act 2013:\n\n (a) accountable authority;\n\n (b) director;\n\n (c) reporting period.\n\nNote: See also the definitions of Commonwealth entity and Commonwealth company in section 5 of this Act.\n\nApplication\n\n (5) Subsections (1) and (2) apply in relation to a reporting period that ends on or after the commencement of this section.\n\n12  Rules relating to provision of Future Made in Australia support\n\n (1) The rules may prescribe requirements that must be complied with, methods or criteria that must be applied, or matters that may, must or must not be taken into account, in:\n\n (a) applying for Future Made in Australia support; or\n\n (b) deciding whether Future Made in Australia support should be provided; or\n\n (c) providing Future Made in Australia support.\n\nNote: The rules may make different provision for different kinds of Future Made in Australia support: see subsection 33(3A) of the Acts Interpretation Act 1901.\n\n (2) However, rules made for the purposes of subsection (1) have no effect in relation to the provision of Future Made in Australia support under a particular law to the extent that the rules are inconsistent with that law.\n\n (3) Sections 11 and 11A do not limit this section.\n\nPart 4—Miscellaneous\n\n \n\n13  Delegation by the Secretary\n\n (1) The Secretary may, in writing, delegate to an SES employee, or an acting SES employee, in the Department all or any of the Secretary’s functions or powers under Part 2 of this Act relating to sector assessments.\n\nNote: Sections 34AA to 34A of the Acts Interpretation Act 1901 contain provisions relating to delegations.\n\n (2) In performing a delegated function or exercising a delegated power, the delegate must comply with any written directions of the Secretary.\n\n14  Annual report\n\n  The annual report prepared by the Secretary of the Department and given to the Minister under section 46 of the Public Governance, Performance and Accountability Act 2013 for a period must include a report on the operation of this Act during the period.\n\n15  Rules\n\n (1) The Minister may, by legislative instrument, make rules prescribing matters:\n\n (a) required or permitted by this Act to be prescribed by the rules; or\n\n (b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.\n\n (2) To avoid doubt, the rules may not do the following:\n\n (a) create an offence or civil penalty;\n\n (b) provide powers of:\n\n (i) arrest or detention; or\n\n (ii) entry, search or seizure;\n\n (c) impose a tax;\n\n (d) set an amount to be appropriated from the Consolidated Revenue Fund under an appropriation in this Act;\n\n (e) directly amend the text of this Act.\n\n \n\n \n\n \n\n \n\n[Minister’s second reading speech made in—\n\nHouse of Representatives on 3 July 2024\n\nSenate on 11 September 2024]\n\n \n\n(84/24)\n\n \n","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":6,"scope_assessment":{"changed":false,"description":"This Act is coherent with the purpose stated in its objects and preamble: to create a framework for assessing sectors and conditioning public support to mobilise private investment toward net‑zero and economic resilience objectives. It does not materially expand beyond that purpose (it does not appropriate new funds itself, nor create unrelated regulatory schemes). The principal expansion of administrative reach is the imposition of cross‑cutting community benefit and reporting requirements on supports provided under other laws (s10, s11, s11A), but that is consistent with the Act's stated intent rather than a departure from it."},"complexity_factors":["Short Act (15 sections) but multiple interacting parts: sector assessments (Part 2) and support rules/reporting (Part 3)","Approximately 12 defined terms in the interpretation section (s5) with cross‑references to external Acts (PGPA Act, Export Finance and Insurance Corporation Act, Climate Change Act, Paris Agreement)","Ministerial powers to direct assessments (s6) combined with an explicit prohibition on influencing particular assessments (s8(2), s8(4)) — conditional and potentially confusing constraints","Broad rule‑making power (s15) and a separate rules power for support conditions (s12) that can prescribe criteria, methods and exceptions","Delegation of Secretary functions to SES officers (s13) adds an administrative layer","Reporting and redaction regime: mandatory tabling of assessment reports with limited redaction grounds (s9) plus annual financial reporting obligations for entities/companies (s11A)","A specific categorical prohibition on fossil fuel extraction/infrastructure/financing (s10A) introduces a bright‑line eligibility rule that interacts with other discretionary provisions","Numerous cross‑references to other laws and programs where support will actually be provided (s10(2)(a)–(c)), creating dependence on external legislative and program detail","Nested exceptions and limitations: e.g. rules cannot override particular laws (s12(2)), and rules are restricted from creating offences or taxes (s15(2))"],"plain_english_summary":"**What this law does (mechanics)\n\n- Establishes a National Interest Framework (s7) made up of two streams: the \"net zero transformation\" stream and the \"economic resilience and security\" stream.  The Framework is a decision‑making tool for identifying sectors where public investment could unlock substantial private investment (s3, s7).\n\n- Gives the Minister power to direct the Secretary of the Department to carry out sector assessments (s6).  A sector assessment tests how a sector aligns with the Framework and identifies barriers to private investment (s6(2)).  The Secretary must follow specified matters when conducting assessments and may consult a list of Commonwealth agencies (s8(1), s8(6)).  The Secretary reports to the Minister and reports are tabled in Parliament subject to limited redaction grounds (s9).\n\n- Requires decision‑makers to have regard to a set of \"community benefit principles\" when deciding whether to provide \"Future Made in Australia support\" (s10(1)–(3)).  The principles include promoting safe, well‑paid jobs, skills and workforce participation, engagement with local and First Nations communities, strengthening local supply chains, and transparency about tax affairs (s10(3)).\n\n- Defines \"Future Made in Australia support\" broadly to include grants, loans, guarantees, indemnities, equity investments and support under specific programs or laws (s10(2)).  The rules can add to or clarify what counts as such support (s10(2)(d), s12).\n\n- Prohibits any Future Made in Australia support for: (a) extraction of coal, crude oil or natural gas; (b) construction of infrastructure whose primary purpose is extracting those fuels; and (c) direct financing of investments solely for the use of those fuels (s10A).\n\n- Requires applicants for or recipients of Future Made in Australia support to have a written \"Future Made in Australia plan\" in prescribed circumstances.  The plan must explain how the support will deliver community benefits consistent with the principles and comply with rules (s11).\n\n- Imposes reporting obligations on Commonwealth entities and Commonwealth companies that provide such support: annual reports must name each recipient and the amounts provided or committed (s11A).\n\n- Gives the Minister a rule‑making power (legislative instrument) to prescribe detailed requirements and also allows the Secretary to delegate assessment functions to SES officers (s15, s13).  Rules may not create offences, impose taxes, or amend the Act directly (s15(2)).\n\n\nWhy it matters (purpose claims and their practical effects)\n\n- The stated purpose is to use public investment to catalyse private investment in industries where Australia can gain a sustained comparative advantage in a decarbonising world, or where domestic capability is needed for resilience and security (preamble; s3).  That purpose is implemented through sector assessments (s6–9) and by conditioning support on community benefits and plans (s10–11).\n\n- Who pays and who benefits: Commonwealth funds (including programs administered by agencies such as the Australian Renewable Energy Agency and the Export Finance and Insurance Corporation) and potentially government‑backed finance are the payers; private firms and projects judged to meet assessment and plan requirements are the likely beneficiaries (s10(2), s10A).  Taxpayers ultimately bear the fiscal cost of provided support.\n\n- Who decides and how: Ministers direct which sector assessments are done (s6).  Decision‑makers providing support are various Commonwealth entities and companies; they must \"have regard to\" the community benefit principles (s10(1)).  The Minister can make rules setting application, assessment and provision criteria (s15, s12), and the Secretary manages the assessments (s6, s8).\n\n\nTesting the stated aims against costs, incentives and implementation risks\n\n- Concentrated benefits vs diffuse costs: The Act creates a vehicle to target public funds at specific sectors and projects.  That produces concentrated financial benefits for supported firms or regions while costs (the fiscal expense and opportunity cost of public funds) are spread across the public.  The text recognises the need for value for money and the key role of the private sector (s8(1)(e)).  The mechanism for concentrating benefits is explicit grant/loan/equity/guarantee powers and directed support under identified programs (s10(2)).\n\n- Picking winners and administrative discretion: The framework centralises choices about which sectors and projects are supported in the executive (Minister/Secretary/agency decision makers).  The Minister may give directions about how sector assessments should be conducted (s8(2)) but is explicitly prohibited from giving directions \"in relation to a particular sector assessment\" or otherwise influencing a particular assessment (s8(4)), which limits political direction over individual outcomes while allowing general procedural directions.  Delegation (s13) and broad rule‑making powers (s15, s12) create scope for substantial administrative discretion in implementation.\n\n- Compliance and transaction costs: Applicants and recipients must prepare written Future Made in Australia plans explaining community benefits (s11).  Commonwealth entities and companies must report annually on recipients and amounts (s11A).  Those requirements impose administrative costs on applicants and government agencies.\n\n- Interaction with private capital and competition: Support from government agencies (including EFIC) and the Innovation Fund may lower finance costs for recipients and thereby advantage them over unsubsidised competitors (s10(2)).  The Act requires consideration of private sector roles and value for money (s8(1)(e)), but the practical effect will depend on how strictly those principles and rules are applied.  There is also a risk of crowding out private capital if public support displaces market financing rather than mobilising additional private investment.\n\n- Policy targeting and exclusions: The statutory ban on supporting fossil fuel extraction or infrastructure primarily for extraction (s10A) narrows the universe of eligible projects and shifts support toward decarbonisation, domestic supply chains, and non‑fossil energy industries.  That exclusion reduces the chance public funds subsidise upstream fossil fuel activities but will also preclude support for projects that rely on those activities even if they claim downstream benefits.\n\n- Transparency and confidentiality: Sector assessment reports must be tabled in Parliament (s9(2)), improving transparency of the assessment process, but the Minister may redact personal, commercially sensitive or security‑related information (s9(3)).  Annual reporting by entities/companies lists recipients and amounts (s11A), increasing financial transparency for supported projects.\n\n\nConcrete behavioural changes the law creates\n\n- Ministers can commission systematic sector studies to prioritise public investment (s6–9).\n- Prospective recipients must prepare and keep in effect written plans linking public support to community benefits (s11).\n- Commonwealth decision‑makers must take community benefit principles into account when deciding on supports (s10(1)–(3)).\n- Fossil fuel extraction projects are excluded from support (s10A).\n- Commonwealth entities/companies must disclose recipients and amounts in annual reporting (s11A).\n\n\nKey implementation levers that will determine outcomes\n\n- The content of the rules (legislative instrument) and any further prescriptions (s12, s15) — these will set the procedural and substantive thresholds for applications, plans and compliance.\n- How the Secretary conducts sector assessments and which matters are emphasised (s8), including consultation design and use of external agencies (s8(6)).\n- The application of the community benefit principles by decision‑makers in practice (s10); \"having regard to\" is a flexible standard and its bite depends on administrative guidance and rule detail.\n\n\nLimitations of the Act (what it does not do directly)\n\n- It does not itself appropriate funds or create individual grant or loan programs — it sets a framework and governance overlay; specific supports will be provided under other laws or programs (s10(2)(c)).\n- It does not create criminal offences, taxation powers, or coercive enforcement measures by rule (s15(2)).\n\n\nShort conclusion (analyst's note)\n\nMechanically, the Act establishes an executive‑led framework to identify priority sectors and condition public financial support on demonstrable \"community benefits\" and written plans, while excluding direct support for fossil fuel extraction (s7, s10, s10A, s11).  Its ultimate economic effect will depend heavily on rule drafting, how strictly value‑for‑money and private‑sector participation requirements are enforced (s8, s12), and the design of the specific programs that deliver the support (s10(2))."},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":4,"scope_assessment":{"changed":false,"description":"The legislation appears consistent with its original intent as described in the preamble and objects clause. It establishes the National Interest Framework and community benefit principles as foundational mechanisms, with significant substantive detail left to rules. The scope has not expanded beyond the original purpose of coordinating public investment for net zero transformation and economic resilience."},"complexity_factors":["Relatively short statute (15 sections plus preamble)","Only 9 defined terms in section 5, most referencing external legislation (Public Governance, Performance and Accountability Act 2013, Climate Change Act 2022, Paris Agreement)","Simple two-part framework structure (net zero transformation vs economic resilience streams) with clear threshold tests","Heavy reliance on delegated legislation — rules can prescribe: application requirements, decision criteria, circumstances requiring Future Made in Australia plans, and additional community benefit principles","Cross-references to multiple external Acts including Australian Renewable Energy Agency Act 2011, Export Finance and Insurance Corporation Act 1991, Public Governance, Performance and Accountability Act 2013, Climate Change Act 2022, Privacy Act 1988, and Acts Interpretation Act 1901","Conditional application of community benefit principles — they don't apply where inconsistent with the specific law authorising the support, or in circumstances prescribed by rules","Fossil fuel exclusion uses nested definitions ('primary purpose', 'sole purpose') that may require interpretation","Sector assessment independence provision (section 8(4)) creates a soft structural safeguard rather than complex procedural rules"],"plain_english_summary":"This law creates a framework for the Australian Government to decide which industries deserve public money to help Australia transition to a clean energy economy while building economic resilience.\n\n**What it does:**\n- **Establishes the National Interest Framework** — a two-stream test for deciding which economic sectors should receive government support:\n  - **Net zero transformation stream**: Sectors where Australia could have a lasting competitive advantage in a clean energy world, and where public investment is needed to cut emissions efficiently.\n  - **Economic resilience and security stream**: Sectors where domestic capability is needed for national security or economic resilience, but private investors won't step up without government help.\n\n- **Creates sector assessments** — The Minister can direct the Secretary to analyse specific industries against this framework. These assessments must be independent and are tabled in Parliament (though sensitive information can be redacted).\n\n- **Sets community benefit principles** — Anyone deciding whether to give \"Future Made in Australia support\" (grants, loans, guarantees, equity investments etc.) must consider:\n  - Creating secure, well-paid jobs\n  - Building skilled and inclusive workforces\n  - Supporting First Nations communities and those affected by the energy transition\n  - Strengthening local supply chains\n  - Tax transparency and compliance\n\n- **Bans fossil fuel support** — Future Made in Australia support cannot be used for coal, oil or gas extraction, infrastructure built primarily for fossil fuel extraction, or financing investments solely for using fossil fuels.\n\n- **Requires Future Made in Australia plans** — Companies seeking support must have written plans showing how they'll deliver community benefits.\n\n- **Mandates transparency** — Commonwealth entities and companies must report annually on what support they've provided and to whom.\n\n**Who it affects:**\n- Government decision-makers allocating public funds\n- Companies seeking government grants, loans, or investment for clean energy and industrial projects\n- First Nations communities and workers in transitioning industries\n- Taxpayers (through transparency requirements)\n\n**Why it matters:**\nThis law attempts to coordinate Australia's industrial policy with its climate goals. It aims to stop public money flowing to fossil fuels while ensuring that clean energy investments deliver local jobs, skills, and community benefits — not just profits for investors. It also creates a formal process for identifying which sectors Australia should back strategically, rather than making ad-hoc decisions."}},"importantCases":[],"_links":{"self":"/api/acts/future-made-in-australia-act-2024","history":"/api/acts/future-made-in-australia-act-2024/history","analysis":"/api/acts/future-made-in-australia-act-2024/analysis","conflicts":"/api/acts/future-made-in-australia-act-2024/conflicts","importantCases":"/api/acts/future-made-in-australia-act-2024/important-cases","documents":"/api/acts/future-made-in-australia-act-2024/documents"}}