The NAIF is established by the under the provisions of the Northern Australian Infrastructure Facility Act 2016 (NAIF Act) and is a corporate Commonwealth entity under the Public Governance, Performance and Accountability Act 2013 (PGPA Act).
The PGPA Act sets out the requirements for NAIF in relation to corporate governance, reporting and accountability which are in addition to those in the NAIF Act.
Ministerial responsibility for the NAIF lies with the Hon Barnaby Joyce, Deputy Prime Minister, Minister for Agriculture and Water Resources, Minister for Resources and Northern Australia. The responsible Minister is responsible for the appointment of the Board Members and issuing the NAIF Investment Mandate, as well as having accountability to the Australian Parliament.
The NAIF Board is responsible for deciding within, the scope of the Investment Mandate, the strategies and policies to be followed by the NAIF and to ensure the proper, efficient and effective performance of the NAIF’s functions.
The Chief Executive Officer (CEO) of the NAIF, is responsible for the day-to-day administration of the NAIF, subject to (and in accordance with policies determined by) the NAIF Board. The CEO is supported by a dedicated team of its own staff and has entered into a Service Level Agreement (SLA) with the Export Finance and Insurance Corporate (Efic) for the provision of additional support services.
The Queensland, Northern Territory and Western Australian Governments will work with the NAIF through the on lending of NAIF investments to project proponents. The involvement of the states and territory will help to maximise the gains from infrastructure investment in northern Australia.
NAIF Board Charters
NAIF Governance Policies
The NAIF Budget Statements for the period 2017-2018 are published in the Portfolio Budget Statements 2017-18 under the Industry, Innovation and Science Portfolio and can be accessed here.
Corporate Plan 2017-18
The NAIF’s operations are governed by Commonwealth legislation and overseen by an independent commercial Board. The NAIF came into effect on 1 July 2016 as a corporate Commonwealth entity under the Northern Australia Infrastructure Facility Act 2016 (NAIF Act). The NAIF Corporate Plan outlines our key business strategies and can be accessed here.
Previous Corporate Plans can be accessed from the links below.
2016-17 Executive Remuneration Report
The NAIF is committed to provide transparency of our remuneration for executive and other highly paid staff. To this end, the NAIF (together with other Australian Public Service entities) has decided to disclose the remuneration of our executives and other highly paid staff, starting from the 2016-17 reporting period.
For the purposes of the reporting executives are defined as:
- Chief executive officers and equivalents
- Employees of an entity or company who:
- make, or participate in making, decisions that affect the whole, or a substantial part, of the operations of the entity or company; or
- have the capacity to affect significantly the entity’s or company’s financial standing or performance in achieving its purposes (as defined by section 8 of the PGPA 2013); or
- perform functions controlling operational activities, which directly impact the economic function and viability of the entity or company; and
- have employment conditions equivalent to Senior Executive Service employment conditions of service.
NAIF’s report for 2016-17 is available here.
Senate Order on Government Agency Contracts
On 20 June 2001, the Senate agreed to an order (the Murray Motion) requiring each Minister to table a letter of advice for each reporting period, that each relevant agency administered by that Minister, has placed on the internet a list of contracts of $100,000 (GST inclusive) or more which are current or entered into during the previous twelve months (and certain other details). The Order was subsequently broadened to include corporate Commonwealth entities (which includes NAIF) from 1 July 2017. The accountable authority of the NAIF has assured that, based on the information available as a result of reasonable enquiries undertaken by officers in the NAIF, the listed contracts do not contain any inappropriate confidentiality provisions.
- List of contracts for the Senate Order for Entity Contracts (Murray Motion) relating to the period 1 July 2016 to 30 June 2017 can be found here.