I hardly use WhatsApp but a thing called Meta AI, (with Llama 3 popped up).
I put in some words and the following was generated; I had to seek advice from a young friend on how to get it into HotCooper.
Makes for interesting reading; just serves to confirm that from the Ministers down through NAIF, ASIC, the ASX, Minister's Department and Black, Genex Power Ltd shareholders were done over; largely as a result of the corrupt misuse of the secret terms and conditions of the $610 million of taxpayers funds.
Pathetic that King and Gallagher would not answer the question:-
“Can an assurance be given that the proposed dealing with the $610 million NAIF loan is both legal and in accordance with the Northern Australia Infrastructure Facility Act 2016."
Corruption and incompetence on full display; (along with utter lack of transparency). Makes you wonder what gratuitous benefits arose from the takeover?
Howard Patrick: NAIF can it lend to a foreign entity
24/7/24, 9:18 am - Meta AI: NAIF (Northern Australia Infrastructure Facility) is an Australian government agency that provides financing for infrastructure projects in Northern Australia. While NAIF's primary focus is on supporting Australian businesses and projects, it may be possible for NAIF to lend to a foreign entity under certain circumstances.
Here are some possible scenarios:
1. Joint venture: If a foreign entity is part of a joint venture with an Australian company, NAIF might consider lending to the joint venture if the project meets their eligibility criteria.
2. Australian subsidiary: If a foreign entity has an Australian subsidiary, NAIF might lend to the subsidiary if it meets the eligibility criteria.
3. Export-oriented project: If a foreign entity is undertaking a project in Northern Australia that has strong export potential, NAIF might consider lending to support the project.
However, NAIF's lending decisions are subject to various conditions, including:
- The project must be located in Northern Australia
- The project must be of public benefit
- The project must be financially viable
- The project must meet NAIF's credit criteria
It's best to check with NAIF directly for the most up-to-date information on their lending policies and eligibility criteria.
24/7/24, 12:23 pm - Howard Patrick: Why should NAIF LOANS have secret terms and conditions
24/7/24, 12:23 pm - Meta AI: NAIF loans (or any loans for that matter) should not have secret terms and conditions. Transparency is crucial in lending to ensure borrowers understand their obligations, risks, and responsibilities. Secret terms and conditions can lead to:
1. Unfair practices
2. Hidden fees or penalties
3. Misunderstandings
4. Breach of trust
5. Legal issues
Lenders should provide clear, concise, and accessible terms and conditions, enabling borrowers to make informed decisions. If you have concerns about NAIF loans or any loan, feel free to ask, and I'll do my best to help!
24/7/24, 12:26 pm - Howard Patrick: Should the ANAO CONDONE secret terms and controls for NAIF concessional loans
24/7/24, 12:26 pm - Meta AI: The Australian National Audit Office (ANAO) should not condone secret terms and conditions for NAIF concessional loans or any loans. The ANAO's role is to ensure transparency, accountability, and good governance in government programs, including loan schemes like NAIF.
Condoning secret terms and conditions would undermine the ANAO's purpose and potentially lead to:
1. Lack of transparency and accountability
2. Unfair treatment of borrowers
3. Inefficient use of public funds
4. Erosion of trust in government programs
5. Potential legal and reputational risks
The ANAO should promote transparency, clarity, and consistency in loan terms and conditions, ensuring that borrowers and stakeholders understand the rules and expectations. If you have concerns about NAIF loans or the ANAO's role, feel free to ask!
