Commonwealth Numbered Regulations - Explanatory Statements

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PUBLIC WORKS COMMITTEE REGULATIONS (AMENDMENT) 1992 NO. 108

Statutory Rules 1992 No. 108

Issued by the Authority of the Minister for Administrative Services

Public Works Committee Act 1969

Public Works Committee Regulations (Amendment)

The Public Works Committee Act 1969 (the Act) established the Public Works Committee to inquire into and report on public works referred to it by the Parliament. A public work is a work that is proposed to be carried out by or for the Commonwealth and for which moneys are appropriated by the Parliament.

Paragraph 6A(3) of the Act provides that where the Governor-General is satisfied that an authority of the Commonwealth is engaging in trading or other activities, or is providing services, in competition with other bodies, the Governor-General may make regulations declaring that this Act does not apply to that authority.

The Export Finance and Insurance Corporation (EFIC) was re-established as an independent corporation on 1 November 1991. Prior to 1991 the EFIC had been part of the Australian Trade Commission (AUSTRADE).

EFIC is engaged in trading activities through the provision of insurance, finance and guarantee facilities to both Australian exporters and overseas buyers of Australian goods and services. EFIC also operates in a highly competitive international trading environment competing principally . with similar services provided by overseas government backed export credit agencies. As such the EFIC's situation clearly meets the requirements of Paragraph 6A(3) for exemption.