4Simplified outline of this Act

4 Simplified outline of this Act

• There is to be a National Reconstruction Fund Corporation.

• The functions of the Corporation include:

(a) the Corporation’s investment functions; and

(b) to liaise with relevant persons and bodies, including other Commonwealth entities and State and Territory governments, for the purposes of facilitating the Corporation’s investment functions.

• There is to be a Board of the Corporation and a Chief Executive Officer of the Corporation.

• The Corporation can engage staff and consultants.

• The National Reconstruction Fund Corporation Special Account is established.

• Amounts are to be credited to the Account.

• The purpose of the Account is to make payments to the Corporation.

• The Corporation’s investment functions are:

(a) to provide financial accommodation for purposes relating to any of the priority areas of the Australian economy; and

(b) to acquire equity interests in entities that carry on activities in a priority area of the Australian economy.

• The Corporation may perform its investment functions itself or through subsidiaries.

• Each investment of the Corporation must be solely or mainly Australian‑based.

• The Minister administering this Act and the Finance Minister jointly exercise various powers conferred by this Act in relation to the Corporation.

• The Corporation is bound by the Investment Mandate given to it by the Ministers.

Note: For the Corporation’s investment functions, see section 63.