Infrastructure Australia Amendment Act 2014 (77 of 2014)

Schedule 1   Amendments

Part 1   Amendments relating to Infrastructure Australia and the Infrastructure Coordinator

Infrastructure Australia Act 2008

8   Sections 4 and 5

Repeal the sections, substitute:

4 Establishment

(1) Infrastructure Australia is established by this section.

(2) Infrastructure Australia:

(a) is a body corporate; and

(b) must have a seal; and

(c) may acquire, hold and dispose of real and personal property; and

(d) may sue and be sued.

Note: The Commonwealth Authorities and Companies Act 1997 applies to Infrastructure Australia. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of executive officers.

(3) Infrastructure Australia's seal is to be kept in such custody as the Board directs and must not be used except as authorised by the Board.

(4) All courts, judges and persons acting judicially must:

(a) take judicial notice of the imprint of the seal of Infrastructure Australia appearing on a document; and

(b) presume that the document was duly sealed.

5 Functions - general

Infrastructure Australia has the following functions:

(a) to conduct audits to determine the adequacy, capacity and condition of nationally significant infrastructure, taking into account:

(i) forecast growth; and

(ii) economic, social and environmental sustainability;

(b) to develop lists (to be known as Infrastructure Priority Lists), based on audits conducted under paragraph (a) and any additional research by Infrastructure Australia, that prioritise Australia's infrastructure needs;

(c) to evaluate infrastructure proposals in accordance with section 5A;

(d) to develop plans (to be known as Infrastructure Plans) in accordance with section 5B;

(e) to provide advice on infrastructure matters in accordance with section 5C;

(f) to identify any impediments to investment in nationally significant infrastructure and identify strategies to remove any impediments identified;

(g) to promote investment in infrastructure;

(ga) to review and provide advice on proposals to facilitate the harmonisation of policies, and laws, relating to development of, and investment in, infrastructure;

(gb) to review Commonwealth infrastructure funding programs and their alignment with Infrastructure Plans given to the Minister under section 5B;

(h) to undertake or commission research relating to Infrastructure Australia's other functions;

(i) any other functions conferred on Infrastructure Australia by or under this Act or any other law.

5A Functions - evaluating infrastructure proposals

(1) For the purposes of paragraph 5(c), Infrastructure Australia has the function of evaluating proposals for investment in, or enhancements to:

(a) nationally significant infrastructure; and

(b) other infrastructure determined by the Minister.

(3) A determination made by the Minister under paragraph (1)(b) is a legislative instrument.

(4) As soon as practicable after the end of each quarter, Infrastructure Australia must make a summary of each proposal evaluated during the quarter available on its website.

5B Functions - developing Infrastructure Plans

(1) For the purposes of paragraph 5(d), Infrastructure Australia has the function of developing plans, to be given to the Minister, that:

(a) specify priorities for nationally significant infrastructure for Commonwealth, State, Territory and local governments for the period covered by the plan (see subsection (2)); and

(b) specify the following for proposals relating to those priorities during that period:

(i) productivity gains that may be anticipated from each proposal;

(ii) any complementary infrastructure required to maximise productivity gains from the proposals;

(iii) timeframes for delivering the proposals; and

(ba) includes a cost benefit analysis of each such proposal; and

(c) take into account:

(i) the audits, lists and evaluations mentioned in paragraphs 5(a), (b) and (c); and

(ii) consultations with Commonwealth, State, Territory and local governments; and

(iii) any other matters Infrastructure Australia considers relevant.

(2) A plan must cover a period of 15 years from the time the plan is prepared, or such other period as the Board determines.

(3) A cost benefit analysis included in a plan as mentioned in paragraph (1)(ba) must be prepared using the method approved by Infrastructure Australia. The method must enable the proposals to be compared.

(4) A plan must be prepared under this section every 5 years, or at such other intervals as the Board determines.

(5) Within 14 days of a plan being given to the Minister, the plan must be made available on Infrastructure Australia's website.

(6) Infrastructure Australia must cause the method approved under subsection (3) to be reviewed:

(a) no later than 6 months after the commencement of this section; and

(b) every 24 months after that first review.

(7) Without limiting subsection (6), a review under that subsection must consider whether the cost benefit analyses take into account social, environmental and economic costs and benefits adequately.

(8) The report of the review must be made available on Infrastructure Australia's website within 14 days of the report being given to Infrastructure Australia.

5C Functions - providing advice on infrastructure matters

(1) For the purposes of paragraph 5(e), Infrastructure Australia has the function of providing advice to the Minister, Commonwealth, State, Territory and local governments, investors in infrastructure and owners of infrastructure on matters relating to infrastructure, including in relation to the following:

(a) Australia's current and future needs and priorities relating to nationally significant infrastructure;

(b) policy, pricing and regulatory issues that may impact on the utilisation of infrastructure;

(ba) policy issues arising from climate change;

(c) impediments to the efficient utilisation of national infrastructure networks;

(d) options and reforms, including regulatory reforms, to make the utilisation of national infrastructure networks more efficient;

(e) the needs of users of infrastructure;

(f) mechanisms for financing investment in infrastructure;

(g) the delivery of infrastructure projects.

(2) For the purposes of paragraph (1)(g), Infrastructure Australia may evaluate the delivery of an infrastructure project, including evaluating:

(a) the delivery against any targets set before or during delivery; and

(b) any relevant assumptions made before or during delivery.

(3) Infrastructure Australia also has the function of promoting public awareness of the matters mentioned in subsections (1) and (2), including by publishing information on its website.