Federal Register of Legislation
Export Finance and Insurance Corporation Amendment (Finance) Act 2013
No. 30, 2013
An Act to amend the Export Finance and Insurance Corporation Act 1991, and for related purposes
Contents 1 Short title 2 Commencement 3 Schedule(s) Schedule 1—Amendments Export Finance and Insurance Corporation Act 1991
Export Finance and Insurance Corporation Amendment (Finance) Act 2013 No. 30, 2013
An Act to amend the Export Finance and Insurance Corporation Act 1991, and for related purposes
[Assented to 30 March 2013]
The Parliament of Australia enacts:
1 Short title This Act may be cited as the Export Finance and Insurance Corporation Amendment (Finance) Act 2013.
2 Commencement This Act commences on the day after this Act receives the Royal Assent.
3 Schedule(s) Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
Schedule 1—Amendments
Export Finance and Insurance Corporation Act 1991
1 Subsection 36(3) Omit "(3)".
2 Subsection 49(2) Omit "(2)" (first occurring).
3 At the end of subsection 49(2) (before the note) Add: ; and (d) any direction by the Minister under subsection 55A(2) for the payment of a dividend by EFIC in the financial year to which the target relates.
4 Subsection 54(8) Repeal the subsection, substitute: (8) EFIC's called capital at any time must not exceed: (a) $200,000,000; or (b) if a greater amount is specified in a legislative instrument made by the Minister—that greater amount.
5 Section 55 (heading) Before "dividends", insert "annual".
6 After section 55 Insert:
55A Payment of additional dividends to the Commonwealth
One‑off dividend (1) EFIC must pay the Commonwealth a dividend of $200,000,000 before 30 June 2013.
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