Inquiry into the Export Finance and Insurance Corporation
Amendment Bill 2006
Information about the inquiry
On 16 August 2006, the Senate
referred the above bill to the Senate Foreign Affairs, Defence and Trade
Legislation Committee for inquiry and report by Saturday, 9 September
2006.
The Bill proposes to change the
board management structure of the Export Finance and Investment Corporation
to align more closely with the board corporate governance model.
The amendments are
part of the Government’s response to the Review of the Corporate
Governance of Statutory Authorities and Office Holders, which examined
and reported on improving the structures and the governance practices of
such entities.
The main changes
are to the membership of the EFIC Board and include:
-
the Chief
Executive Officer of the Australian Trade Commission is no longer to be an
appointed member of the EFIC board;
-
the number of
other members (not including the Chairperson, the Deputy Chairperson, the
Managing Director and the government member) is to be reduced from not
fewer than 4 nor more than 6 to not fewer than 2 nor more than 5.
-
after consulting
with the Minister, the Managing Director is to be appointed by the Board
not the Minister as currently required; and
-
after consulting with the Minister, the Board may appoint a Deputy
Managing Direc
According to
Explanatory Memorandum the proposed changes 'are of an operational and
enabling nature. The amendments do not impact EFIC's functions, nor EFIC's
delivery of export facilitation services to Australia business. EFIC will
continue to be focussed on assisting Australian businesses to enter and
develop export markets'.
Lodging Submissions
Submissions are called for by
Monday, 28 August 2006.
Submissions become Committee documents and are only made public after a
decision by the Committee. Unauthorised release of submissions is not
covered by parliamentary privilege. Further assistance can be obtained by
phoning the secretariat on (02) 6277 3535.
For further information, contact:
Dr Kathleen Dermody
Committee Secretary
Senate Standing Committees on Foreign Affairs, Defence and Trade
PO Box 6100
Parliament House
Canberra ACT 2600
Australia
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