Summary
Amends the:
Export Finance and Insurance Corporation Act 1991
to: provide for the circumstances in which the Export Finance and Insurance Corporation (EFIC) can provide insurance or another financial service or product on its commercial account; enable EFIC to guarantee loans for foreign based subsidiaries of certain Australian based companies; exclude public service personnel from the EFIC board; and apply competitive neutrality principles to EFIC’s commercial account operations; and
Corporations Act 2001
and
Insurance Contracts Act 1984
to make consequential amendments.