4Simplified outline of this Act

4  Simplified outline of this Act

This Act establishes the Net Zero Economy Authority.

The Authority’s functions are directed at promoting orderly and positive economic transformation as Australia transitions to a net zero emissions economy. These functions include:

 (a) consulting and cooperating with persons, organisations and governments to support Australia’s transition to a net zero emissions economy; and

 (b) facilitating participation and investment in net zero transformation initiatives; and

 (c) supporting workers in emissions‑intensive industries to access new employment or improve their employment prospects.

The Board is the accountable authority of the Net Zero Economy Authority and is responsible for determining the objectives, strategies and policies to be followed by the Authority and the CEO. The Minister may give general directions to the Board about the performance of the functions of the Authority and the Board. The Board members are appointed by the Minister and must have experience or expertise in particular fields.

The CEO is responsible for the day‑to‑day administration of the Authority, and is to assist the Board in the performance of the Board’s functions. The CEO is also responsible for the administration of Part 5 (Energy industry jobs plan).

If a notice is given in relation to the closure of the whole, or a part, of a coal‑fired power station or a gas‑fired power station:

 (a) the CEO must undertake a community of interest process to identify closing employers, dependent employers and receiving employers; and

 (b) the CEO may apply to the Fair Work Commission for a community of interest determination by the Commission; and

 (c) closing employers and dependent employers specified in the determination are subject to obligations that are connected with facilitating transition employees of the employers to find other employment.

The staff of the Authority must be persons engaged under the Public Service Act 1999.

The Board must establish a Stakeholder Panel with representatives from a range of fields to provide non‑binding advice and information to the Board. The Board may also engage consultants, and make arrangements for the Authority to be assisted by certain other persons.

This Act also deals with miscellaneous matters, including information sharing, delegations, review of this Act and the power to make rules.