Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Minister may, in writing, declare a particular asset to be a system of national significance if:
(a) the asset is a critical infrastructure asset; and
(b) the Minister is satisfied that the asset is of national significance.
(2) In determining whether an asset is of national significance for the purposes of subsection (1), the Minister must have regard to:
(a) the consequences that would arise for:
(i) the social or economic stability of Australia or its people; or
(ii) the defence of Australia; or
(iii) national security;
if a hazard were to occur that had a significant relevant impact on the asset; and
(b) if the Minister is aware of one or more interdependencies between the asset and one or more other critical infrastructure assets--the nature and extent of those interdependencies; and
(c) such other matters (if any) as the Minister considers relevant.
(3) The Minister must notify the following of the declaration, in writing, within 30 days after making the declaration in relation to an asset:
(a) each reporting entity for the asset;
(aa) the Parliamentary Joint Committee on Intelligence and Security;
(b) if the asset is a tangible asset located (wholly or partly) in a State, the Australian Capital Territory or the Northern Territory--the First Minister of the State, the Australian Capital Territory or the Northern Territory, as the case requires.
(4) A declaration under subsection (1) is not a legislative instrument.
(5) To avoid doubt, an asset may be the subject of a declaration under subsection (1) even if the asset is not a system.