{"id":"F2023L00716","name":"National Reconstruction Fund Corporation (Priority Areas) Declaration 2023","slug":"national-reconstruction-fund-corporation-priority-areas-declaration-2023","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":441909,"registerId":"F2023L00716-fast-fetch-1775957078079","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"National Reconstruction Fund Corporation (Priority Areas) Declaration 2023","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\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\nNational Reconstruction Fund Corporation (Priority Areas) Declaration 2023\n\nWe, Ed Husic, Minister for Industry and Science, and Katy Gallagher, Minister for Finance, make the following direction.\n\nDated: 16 May 2023 \n\nEd Husic\n\nMinister for Industry and Science\n\n \n\nDated: 25 May 2023    \n\nKaty Gallagher\n\nMinister for Finance\n\n \n\n \n\n \n\n \n\nContents\n\n1  Name\n\n2  Commencement\n\n3  Authority\n\n4  Definitions\n\n5  Priority areas of the Australian economy\n\n \n\n \n\n1  Name\n\n  This instrument is the National Reconstruction Fund Corporation (Priority Areas) Declaration 2023.\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 Immediately after the commencement of the National Reconstruction Fund Corporation Act 2023.\n\n\nNote: This table relates only to the provisions of this instrument as originally made.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 section 6 of the National Reconstruction Fund Corporation Act 2023.\n\n4  Definitions\n\n  In this instrument:\n\nAct means the National Reconstruction Fund Corporation Act 2023.\n\naircraft means any machine or craft used in air navigation, however propelled or moved.\n\nanimal means any member, alive or dead, of the animal kingdom (other than a human being).\n\nanimal product means:\n\n (a) an animal; or\n\n (b) any part of an animal; or\n\n (c) anything produced by an animal; or\n\n (d) anything wholly or principally produced from, or wholly or principally derived from, an animal.\n\nforest operations includes the production, growing or raising of forest products.\n\nhorticultural product has the same meaning as in the Horticulture Marketing and Research and Development Services Act 2000.\n\nhorticulture means the production, growing or raising of horticultural products.\n\nmanufacturing products includes:\n\n (a) developing products; and\n\n (b) providing logistics relating to products; and\n\n (c) distributing products; and\n\n (d) producing products; and\n\n (e) selling products; and\n\n (f) providing after‑market services relating to products; and\n\n (g) maintaining products.\n\nmineral means a substance or mixture of substances:\n\n (a) occurring naturally as part of the earth’s crust; or\n\n (b) dissolved or suspended in water that is on or within the earth’s crust; or\n\n (c) that may be extracted or produced from a substance or mixture of substances mentioned in paragraph (a) or (b).\n\nmining industry means the industry of recovering, extracting or producing minerals.\n\nplant means any member, alive or dead, of the plant kingdom, and includes fungi.\n\nplant product means:\n\n (a) a plant; or\n\n (b) any part of a plant; or\n\n (c) anything produced by a plant; or\n\n (d) anything wholly or principally produced from, or wholly or principally derived from, a plant.\n\nprimary industry means an industry that involves:\n\n (a) agriculture or the cultivation of land; or\n\n (b) the maintenance of animals for commercial purposes; or\n\n (c) forest operations; or\n\n (d) fishing; or\n\n (e) hunting or trapping; or\n\n (f) horticulture; or\n\n (g) aquaculture.\n\nprocessing includes refining, recycling, treating, preparing, transforming or modifying.\n\nproduce of a primary industry means animal products, or plant products, that result from carrying on a primary industry (whether or not any operations have been performed in relation to the products).\n\nproducts includes:\n\n (a) equipment; and\n\n (b) components; and\n\n (c) software; and\n\n (d) technologies.\n\nrail vehicle means a vehicle (including a tram) that is designed to transport passengers or goods and operates on a railway (including a vehicle that does not have wheels).\n\nrailway means a system by which vehicles are guided:\n\n (a) by means of parallel rails; or\n\n (b) by means of a single rail.\n\nroad vehicle means a vehicle that is designed to transport passengers or goods by land, but does not include a rail vehicle.\n\nship means any vessel used in navigation by water, however propelled or moved.\n\nspace object means:\n\n (a) an object the whole or a part of which is to go into or come back from an area beyond the distance of 100 km above mean sea level; or\n\n (b) any part of such an object, even if the part is to go only some of the way towards or back from an area beyond the distance of 100 km above mean sea level.\n\ntherapeutic use means use in or in connection with:\n\n (a) preventing, diagnosing, curing or alleviating a disease, ailment, defect or injury in persons; or\n\n (b) influencing, inhibiting or modifying a physiological process in persons; or\n\n (c) testing the susceptibility of persons to a disease or ailment; or\n\n (d) influencing, controlling or preventing conception in persons; or\n\n (e) testing for pregnancy in persons; or\n\n (f) the replacement or modification of parts of the anatomy in persons.\n\n5  Priority areas of the Australian economy\n\nValue‑add in resources\n\n (1) The area of the Australian economy that is involved in:\n\n (a) manufacturing products for use in or in connection with the mining industry; or\n\n (b) manufacturing products for use in or in connection with processing minerals; or\n\n (c)  processing minerals;\n\nis a priority area of the Australian economy for the purposes of the Act.\n\nValue‑add in agriculture, forestry and fisheries\n\n (2) The area of the Australian economy that is involved in:\n\n (a) manufacturing products for use in or in connection with a primary industry; or\n\n (b) manufacturing products for use in or in connection with processing produce of a primary industry; or\n\n (c)  processing produce of a primary industry;\n\nis a priority area of the Australian economy for the purposes of the Act.\n\nTransport\n\n (3) The area of the Australian economy that is involved in manufacturing any of the following products:\n\n (a) aircraft, road vehicles, rail vehicles or ships;\n\n (b) products for use in or in connection with aircraft, road vehicles, rail vehicles or ships;\n\nis a priority area of the Australian economy for the purposes of the Act.\n\nMedical science\n\n (4) The area of the Australian economy that is involved in manufacturing products for therapeutic use is a priority area of the Australian economy for the purposes of the Act.\n\nRenewables and low emission technologies\n\n (5) The area of the Australian economy that is involved in manufacturing products for use in or in connection with:\n\n (a) renewable energy generation, transmission, distribution or storage; or\n\n (b) greenhouse gas emissions reduction; or\n\n (c) energy efficiency; or\n\n (d) recycling; or\n\n (e) waste reduction; or\n\n (f) resource recovery;\n\nis a priority area of the Australian economy for the purposes of the Act.\n\nDefence capability\n\n (6) The area of the Australian economy that is involved in manufacturing products that are wholly or primarily for use in or in connection with defence is a priority area of the Australian economy for the purposes of the Act.\n\nEnabling capabilities\n\n (7) The area of the Australian economy that is involved in manufacturing any of the following products:\n\n (a) advanced manufacturing technologies or materials technologies;\n\n (b) artificial intelligence technologies;\n\n (c) advanced information or communication technologies;\n\n (d) quantum technologies;\n\n (e) autonomous systems;\n\n (f) robotics technologies;\n\n (g) positioning, timing and sensing technologies;\n\n (h) biotechnologies;\n\n (i) space objects or products for use in, or in connection with, space objects;\n\n (j) other advanced technologies;\n\nis a priority area of the Australian economy for the purposes of the Act.\n","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"This instrument performs exactly the function intended by its parent Act — declaring priority areas for NRF investment. The seven categories align with the policy objectives announced when the National Reconstruction Fund was established. No scope creep is evident; the instrument is a straightforward implementation of its enabling legislation."},"complexity_factors":["Straightforward declaratory structure with 7 clear priority categories","18 defined terms in section 4, but most are intuitive (e.g., 'aircraft', 'plant', 'road vehicle')","No nested exceptions or conditional logic — each priority area is stated as a simple factual declaration","Minimal cross-referencing — only refers back to the parent Act (National Reconstruction Fund Corporation Act 2023) for commencement timing and authority","Single operative section (section 5) with parallel subsections using consistent drafting pattern","Definitions are expansive rather than restrictive, reducing interpretive burden"],"plain_english_summary":"This law directs the National Reconstruction Fund’s $15 billion toward seven priority areas — from value‑adding in resources and agriculture to transport, medical science, renewables, defence and enabling technologies such as AI and space.  \n\nIt tells the NRF board and markets which sectors will get priority financing, signaling to businesses and investors how public funds will be used to rebuild Australian manufacturing, secure supply chains, and support higher‑value tech and production."},"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"},"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":false,"description":"The instrument sets out priority areas and definitions but contains no statement that it alters or replaces a prior scope. The text provides a fresh declaration of priority sectors under the Act (see s5 and s4) without indicating change from an earlier instrument."},"complexity_factors":["Broad and overlapping sectoral categories in section 5 (e.g. manufacturing for use ‘in or in connection with’ multiple industries) create interpretive ambiguity for eligibility determinations.","Extensive definitions in section 4 (e.g. 'manufacturing products', 'products', 'primary industry') determine scope and require cross‑referencing when applying section 5.","Catch‑all and open‑ended language (s5(7)(j) 'other advanced technologies') increases discretionary decision‑making by the Corporation and officials.","Instrument is subordinate to and operates under the National Reconstruction Fund Corporation Act 2023 (s3), so practical effect depends on interaction with the Act's powers and procedures.","Commencement is linked to the Act (s2), so timing and transitional application hinge on that external provision."],"plain_english_summary":"Declares which sectors the National Reconstruction Fund Corporation may prioritise, setting eligibility boundaries for the Corporation’s investment activities (s5) and supplying the definitions that determine what those sectors include (s4). It targets firms in manufacturing, resources, agriculture, transport, medical, renewables, defence and advanced enabling technologies; taxpayers provide the funding while businesses in those sectors gain directed access to the Corporation’s support and incentives to apply for it."}},"importantCases":[],"_links":{"self":"/api/acts/national-reconstruction-fund-corporation-priority-areas-declaration-2023","history":"/api/acts/national-reconstruction-fund-corporation-priority-areas-declaration-2023/history","analysis":"/api/acts/national-reconstruction-fund-corporation-priority-areas-declaration-2023/analysis","conflicts":"/api/acts/national-reconstruction-fund-corporation-priority-areas-declaration-2023/conflicts","importantCases":"/api/acts/national-reconstruction-fund-corporation-priority-areas-declaration-2023/important-cases","documents":"/api/acts/national-reconstruction-fund-corporation-priority-areas-declaration-2023/documents"}}