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- Regulatory framework, key features and key concepts in project finance
Regulatory framework that governs project finance in Australia
This guidance note considers the regulatory framework that governs project finance in Australia.
Relevant regulators that legal practitioners need to be aware of when working on project finance transactions include the Australian Prudential Regulation Authority (APRA), the Australian Securities & Investments Commission (ASIC), the Australian Competition and Consumer Commission (ACCC) and the Australian Securities Exchange (ASX).
It is also important to be aware of the role of the Foreign Investment Review Board (FIRB), as its approval is required for a wide range of transactions.
A project finance transaction is typically governed by the laws of the relevant Australian state or territory in which the project or the borrower is situated. Federal laws are also relevant. Important ones include Native Title Act 1993 (Cth), Environment Protection and Biodiversity Conservation Act 1999 (Cth), Foreign Acquisitions and Takeovers Act 1975 (Cth), Corporations Act 2001 (Cth), Personal Property Securities Act 2009 (Cth), and Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth).
This guidance note also explains the relevance of the work of the Asia Pacific Loan Market Association (APLMA). Legal practitioners may find APLMA’s documents a useful resource when completing a project finance transaction.
See Regulatory framework that governs project finance in Australia.
