Summary

The bill: requires private and public projects with a capital expenditure of $500 million or more to develop an Australian Industry Participation (AIP) plan; establishes the Australian Industry Participation Authority to administer and monitor AIP plan compliance; provides for the appointment, terms and conditions of the authority; provides for staff and consultants; establishes the Australian Industry Participation Advisory Board to advise the authority and the minister as required; provides for the authority’s reporting requirements; requires a review of the operation of the legislation within five years; and requires the minister to present a report of the review to Parliament.