National Reconstruction Fund Corporation (Investment Mandate) Direction 2023 (Cth)

National Reconstruction Fund Corporation (Investment Mandate) Direction 2023

We, Ed Husic, Minister for Industry and Science, and Katy Gallagher, Minister for Finance, make the following direction.

Dated: 27 November 2023

Ed Husic Minister for Industry and Science

Dated: 27 November 2023

Katy Gallagher Minister for Finance

Contents Part 1—Preliminary 1 Name 2 Commencement 3 Authority 4 Object 5 Simplified outline of this instrument 6 Definitions Part 2—Directions 7 Introduction 8 Portfolio benchmark return 9 Portfolio risk 10 Investment considerations 11 Corporation must take medium‑ to long‑term outlook 12 Corporation must consider impacts of Corporation's investment practices 13 Corporation not to damage Commonwealth's reputation 14 Corporation must collaborate and cooperate 15 Targeted financing levels 16 Limits on concessional financial accommodation 17 Limits on equity investments 18 Limits on guarantees 19 Australian industry participation

Part 1—Preliminary

1 Name This instrument is the National Reconstruction Fund Corporation (Investment Mandate) Direction 2023. Note: Neither section 42 nor Part 4 of Chapter 3 of the Legislation Act 2003 (which deal with the disallowance of legislative instruments and the sunsetting of legislative instruments) applies in relation to this instrument.

2 Commencement (1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information Column 1 Column 2 Column 3 Provisions Commencement Date/Details 1. The whole of this instrument The day after this instrument is registered.