Commonwealth Numbered Acts

EXPORT FINANCE AND INSURANCE CORPORATION ACT 1974 No. 122 of 1974 - SECT 30

30. (1) Subject to sub-section (2), where the Corporation receives an
application under section 29, the Board shall refer the application to the
Minister for consideration under sub-section (3).

(2) The Minister may give directions to the Board with respect to the
circumstances or cases in which applications are, or are not, to be referred
to him under sub-section (1), and the Board shall comply with any such
direction.

(3) Where an application has been referred to the Minister under sub-section
(1) and the Minister is of the opinion that-

   (a)  the overseas investment transaction to which the application relates
        will assist in the social and economic development of a country
        outside Australia; and

   (b)  it is in the national interest that the Corporation should enter into
        a contract of insurance in respect of the matter the subject of the
        application, the Minister may, by writing under his hand, approve the
        entering into by the Corporation of such a contract.