❓ Mr. McGowan questions the Treasurer regarding consultations with the ACCC and FIRB concerning the Fremantle Port asset sale, seeking details on the frequency, form, and outcomes of these consultations.
AnsweredQoN 5032Legislative Assembly
QuestionView source ↗
I refer to page 37 of the 2015-16 Mid-year Financial Projections Statement in relation to the Government’s Asset Sales Program, and ask: (a) on how many occasions and in what form has “consultation” with the Australian Competition and Consumer Commission occurred in relation to “national considerations” relating to the Fremantle Port; (b) on how many occasions and in what form has “consultation” with the Foreign Investment Review Board occurred in relation to “national considerations” relating to the Fremantle Port; (c) since the release of the 2015-16 Mid-year Financial Projections Statement: (i) on how many occasions and in what form has any further consultation taken place with the Australian Competition and Consumer Commission in relation to the Fremantle Port; and (ii) on how many occasions and in what form has any further consultation taken place with the Foreign Investment Review Board in relation to the Fremantle Port; (d) has any formal advice or direction been received from either the Australian Competition and Consumer Commission or the Foreign Investment Review Board in relation to “national considerations” relating to the Fremantle Port; and (e) if yes to (d), will the Treasurer table that advice or direction and if not, why not?
AnswerView source ↗
Answered
16 March 2016
Response time
28 days
(a) Officers from the Department of Treasury (Treasury) and representatives of Treasury’s Lead Financial Adviser met with representatives of the Australian Competition and Consumer Commission (ACCC) on one occasion in 2015. This followed an exchange of letters between the ACCC and the Treasurer. At this meeting it was agreed that further consultation would occur once the divestment process was further progressed.
(b) Two distinct email exchanges (comprising multiple emails) and three teleconferences occurred in 2015 between Treasury officers and Commonwealth Treasury’s Foreign Investment and Trade Policy Division (FITPD) relating to the divestment of Fremantle Port (noting there is some overlap with exchanges relating to the divestment of the Utah Point Bulk Handling Facility). The FITPD provides secretariat support to the Foreign Investment Review Board (FIRB) through the day-to-day administration of the foreign investment review framework. The FITPD examines foreign investment proposals and provides advice and recommendations to the FIRB and the Commonwealth Treasurer on national interest implications of foreign investments.
Letters were also exchanged between the Commonwealth Treasurer and Treasurer (WA) regarding changes to the foreign investment framework and the status of Western Australia’s asset sales program.
(c) (i) No further consultation has taken place with the ACCC. Further consultation will occur when the divestment process reaches relevant milestones.
(ii) The Treasurer (WA) has written to the Commonwealth Treasurer to provide an update on Western Australia’s port asset sales.
(d) The ACCC’s letter of 7 September 2015 provided a general introduction to a number of access, pricing and regulatory matters potentially relevant to the divestment of Fremantle Port.
No formal advice has been received from the Foreign Investment Review Board in relation to the divestment of Fremantle Port.
(e) Yes. [Please see tabled paper no.]
(b) Two distinct email exchanges (comprising multiple emails) and three teleconferences occurred in 2015 between Treasury officers and Commonwealth Treasury’s Foreign Investment and Trade Policy Division (FITPD) relating to the divestment of Fremantle Port (noting there is some overlap with exchanges relating to the divestment of the Utah Point Bulk Handling Facility). The FITPD provides secretariat support to the Foreign Investment Review Board (FIRB) through the day-to-day administration of the foreign investment review framework. The FITPD examines foreign investment proposals and provides advice and recommendations to the FIRB and the Commonwealth Treasurer on national interest implications of foreign investments.
Letters were also exchanged between the Commonwealth Treasurer and Treasurer (WA) regarding changes to the foreign investment framework and the status of Western Australia’s asset sales program.
(c) (i) No further consultation has taken place with the ACCC. Further consultation will occur when the divestment process reaches relevant milestones.
(ii) The Treasurer (WA) has written to the Commonwealth Treasurer to provide an update on Western Australia’s port asset sales.
(d) The ACCC’s letter of 7 September 2015 provided a general introduction to a number of access, pricing and regulatory matters potentially relevant to the divestment of Fremantle Port.
No formal advice has been received from the Foreign Investment Review Board in relation to the divestment of Fremantle Port.
(e) Yes. [Please see tabled paper no.]
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