The Federal Government has today circulated an exposure draft of the legislation that will create the $5 billion Northern Australia Infrastructure Fund (NAIF).
Chair of the Northern Australia Development Implementation Oversight Committee, northern-based Senator Ian Macdonald, has welcomed the release of the preliminary draft of the bill.
“The exposure draft of the ‘Northern Australia Infrastructure Facility Bill 2106’ is evidence of the government’s determination to get the development of Northern Australia right,” the Senator said.
Senator Macdonald has encouraged anyone who already has, or who plans on applying for NAIF funding, to consider the draft legislation and provide their feedback to government as soon as possible on any perceived shortcomings in the bill.
“This is one of the most significant initiatives in the development of Northern Australia and it is critical that the government gets it right.
“That is why, even after an extensive consultation process, it is important to make sure that the legislation provides for a workable and sound facility.
“I am pleased that the government is taking this very cautious approach and making sure that every element of the NAIF programme is being fully considered from every possible standpoint.
“This is a very exciting time in the north where we have a dynamic development agenda ahead of us.
“I am very pleased that the government is making sure it is done properly.”
For further information please visit: www.industry.gov.au/naif