Opened the debate
Walsh moved the second reading of the bill, arguing it would ensure the Northern Australia Infrastructure Facility could continue supporting economic growth in a stable and accountable manner. Walsh stated the bill extended the period for making statutory investment decisions by a decade, shifting the end date from 30 June 2026 to 30 June 2036, providing certainty for investors. The amendments also strengthened accountability by requiring the board to notify ministers of non-compliance with the investment mandate and allowing ministers to direct corrective action. Walsh noted that the bill aligned the facility with current administrative arrangements for specialist investment vehicles by including the Minister for Finance in oversight responsibilities. Finally, Walsh explained that the bill updated statutory review requirements to occur after 30 June 2029 and 30 June 2034.