Readable format - sorry about that.I would benefit from some...

Readable format - sorry about that.

I would benefit from some more IT training.

Northern Australia Infrastructure Facility

Ms Tracey Hayes, (Chair), Mr Craig Doyle (CEO) and Mr Chris Collins (Chief Legal Officer

You would already know that I have made a report of corrupt conduct by NAIF officers to the NACC.

I reached the decision to do this as a consequence of:-

ONE, NAIF’s failure in 2022 to obtain an opinion from the Solicitor-General on the legality of the scheme by the Skip Capital Consortium to take over Genex Power Ltd and thereby gain the benefits of the NAIF $610 million concessional loan for two individuals. While repeated questions about the legal opinion were ignored I eventually learnt that the illegal bid had been withdrawn; (not because of the egress of water into the MAT at K2H).

TWO, despite the events of 2022, concerning Skip Capital, NAIF has again, as best I can ascertain, failed to obtain an opinion from Dr Stephen Donaghue KC, the Commonwealth Solicitor-General, about the same issue, the $610 million loan now being proposed for transferred to the overseas corporation, J - Power and its associated entities.

NAIF has, since at least 4 March, been aware that a situation in which the two parties to the proposed takeover would have to clarify the position and implement action over the $610 million of public funds. It seems NAIF has done nothing to clarify its position with respect to the loan. It was not asked to be a party to the NSW Supreme Court dealing with the approval of the TRANSACTION BOOKLET and did not itself seek to become a party to be heard before Mr Justice Black.

NAIF knows the TRANSACTION BOOKLET does not spell out NAIF’s legal and policy positions with respect to the $610 million concessional loan and seemingly has turned a blind eye to the matter by not seeking the opinion of the Solicitor-General; (or presumably any other solicitor(s).

I cannot understand why NAIF has acted in this way. I do not understand the motives behind the above decisions and actions. I can only conclude that the management of the public funds involved and associated failure to obtain Dr Donaghue’s opinion is corrupt.

The fact that NAIF will not spell out what it has communicated about the future of the loan to the two ministers responsible for the Northern Australia Infrastructure Facility, Minister Gallagher and King is extremely disturbing; thus my report to the NACC.

In a strange, (incompetent), bureaucratic twist, Minister Gallagher’s office has sent correspondence on a path that has led to Assistant Treasurer and Minister for Financial Services, Minister Stephen Jones and through him to the Australian Securities and Investment Commission; (for consideration).

You can read the email from the Parliamentary, Governance and Strategy Branch, Department of Finance on HotCopper.

Yours sincerely.

Howard Patrick