Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Except as expressly provided by this Act, EFIC is not subject to direction by the Minister.
(2) The Minister may give written directions to EFIC with respect to the performance of its functions or the exercise of its powers if the Minister is satisfied that it is desirable in the public interest that the directions be given.
(3) EFIC must comply with any direction under subsection (2).
(4) Particulars of directions under subsection (2) are to be included in the annual report of EFIC in accordance with subsection 85(2).
(5) Subsection (2) is not intended to authorise a direction:
(a) requiring the Minister's approval of the entry by EFIC into a particular contract or the giving by EFIC of a particular guarantee or the making of a particular loan; or
(b) giving the Minister power to determine that EFIC is or is not to enter into a particular contract, give a particular guarantee or make a particular loan.
(6) Subsection (5) does not apply in relation to:
(a) EFIC's Northern Australia economic infrastructure functions; or
(b) EFIC's Commonwealth entities function.