Future Made in Australia Act 2024

A sector assessment must consider such of the following matters as the Secretary considers relevant to the conduct of the assessment:

whether Australia could be competitive in the sector;

whether the sector could contribute to an orderly path to net zero transformation, including through the use of renewable energy;

whether the sector could build the capabilities of the Australian people and the regions of Australia, and generate employment opportunities;

whether support for the sector could improve Australia’s economic resilience and security;

whether support for the sector could:

recognise the key role of the private sector; and

deliver genuine value for money.

Each sector assessment must also consider the following matters:

the sector’s impacts on demand for fossil fuels (such as coal, crude oil or natural gas), and how those impacts can be managed in a way that is consistent with an orderly path to net zero transformation;

the decarbonisation potential in relevant global supply chains for the sector, including how those supply chains can contribute to the reduction of global greenhouse gas emissions.

The Minister may, by legislative instrument, give directions to the Secretary in relation to the conduct of sector assessments.

The directions may include consultation requirements for sector assessments, including requirements in relation to the following:

public consultation;

periods for consultation.

The Minister must not:

give directions under subsection (2) to the Secretary in relation to a particular sector assessment; or

seek to influence a particular sector assessment in any other way.

To avoid doubt, this section does not limit the application of subsection 33(3) of the Acts Interpretation Act 1901 in relation to an instrument made under this Act.

For the purposes of conducting a sector assessment, the Secretary may:

consult with any Commonwealth entity; or

arrange for any Commonwealth entity to provide assistance or support.

The Commonwealth entities the Secretary may consult with for the purposes of paragraph (a) include (without limitation) the following:

the Australian Competition and Consumer Commission;

the Climate Change Authority;

the Commonwealth Scientific and Industrial Research Organisation;

Infrastructure Australia;

the Net Zero Economy Agency;

the Productivity Commission.