3.156
The Committee recommends that the Australian Government consider introducing new laws or regulations that ensure shareholders are consulted ahead of decisions by banks and other financial organisations to withdraw funding from export-focused projects, through a formal recommendation that outlines the rationale for the decision, the impact on the bank’s balance sheet and the regional economic impacts. These new laws or regulations should specify a formal notification period – to be determined but that allows sufficient time for consultation, for instance 90 days – ahead of these decisions to ensure all affected stakeholders are informed.