(1) A document is conditionally exempt if its disclosure under this Act would, or could be reasonably expected to, have a substantial adverse effect on Australia's economy by:
(a) influencing a decision or action of a person or entity; or
(b) giving a person (or class of persons) an undue benefit or detriment, in relation to business carried on by the person (or class), by providing premature knowledge of proposed or possible action or inaction of a person or entity.
Note: A person includes a body corporate and a body politic (see subsection 2C(1) of the Acts Interpretation Act 1901 ). Examples of a body politic include the government of the Commonwealth, a State, a Territory or a foreign country.
(2) For the purposes of subsection (1), a substantial adverse effect on Australia's economy includes a substantial adverse effect on:
(a) a particular sector of the economy; or
(b) the economy of a particular region of Australia.
(2A) For the purposes of paragraph (2)(b), Norfolk Island is taken to be a region of Australia.
(3) The documents to which subsection (1) applies include, but are not limited to, documents containing matter relating to any of the following:
(a) currency or exchange rates;
(b) interest rates;
(c) taxes, including duties of customs or of excise;
(d) the regulation or supervision of banking, insurance and other financial institutions;
(e) proposals for expenditure;
(f) foreign investment in Australia;
(g) borrowings by the Commonwealth, a State or an authority of the Commonwealth, of Norfolk Island or of a State.
Note: Access must generally be given to a conditionally exempt document unless it would be contrary to the public interest (see section 11A).