23CApproval required before providing services or products to finance certain coal, crude oil or natural gas activities

23C Approval required before providing services or products to finance certain coal, crude oil or natural gas activities

Despite any other provision of this Part, EFIC must not provide a service or product under this Part that would: (a) directly finance the extraction of coal, crude oil or natural gas; or (b) directly finance the construction of infrastructure for the primary purpose of extracting coal, crude oil or natural gas; or (c) directly finance investments for the sole purpose of the use of coal, crude oil or natural gas; unless an application for the service or product has been referred to the Minister under section 25.

Note: A direction under section 26 may prevent such applications from being referred to the Minister. EFIC cannot provide a service or product covered by this section in those circumstances.