Regional Investment Corporation Act 2018 (Cth)

Date Added to database The date the legislation was added to the LRDB.
N/A
Date of most recent amendments The date the legislation was published/updated on the provider website.
N/A
Commodity The commodity the legislation is associated with e.g. Beef & Veal, Chicken, Wheat, Sugar. The ABARES Agricultural Commodities and Trade Data categories have been used with several clarifications made.
Beef & veal, Chicken, Coarse grains, Cotton, Dairy, Eggs, Fisheries, Forestry, Horticulture, Oilseeds, Pig, Sheep Meat, Sugar, Wheat, Wine, Wool
Categories The AASF Categories aligned to this legislation.
Federal Legislation,
Sub Categories The AASF Sub Categories aligned to this legislation.
N/A
URL This is the URL to the legistation page.
https://www.legislation.gov.au/C2018A00006/latest/text →
Australian Agriculture Sustainability Framework ⓘ
Principles The AASF Principles aligned to this legislation.
Fair access to a decent livelihood is provided within the industry, Resilience is protected and enhanced by assessment, mitigation and management of risks,
Criteria The AASF Criteria aligned to this legislation.
C22. Profitability and competitiveness are encouraged C23. Participants are provided both a living wage and a rewarding, enriching work environment C36. Industry participants develop, implement and regularly review risk management plans C37. Innovation and infrastructure are well-resourced and supported by government and industry, and can be equitably accessed by industry participants

Description: A short description of the legislation.

This legislation establishes the Regional Investment Corporation (RIC). The RIC is an Australian Government provider of low-interest loans for farm businesses, particularly relevant during periods of drought. The purpose is to support the growth, resilience and sustainability of Australia’s agricultural economy.

Application to Australian agriculture: Where the legislation is applicable.

The RIC supports Australian farmers through providing access to concessional finance for businesses in financial need, including through key loan packages such as the 'drought loan' or 'AgriStarter loan.'

Compliance information: Often the evidence of compliance against a piece of legislation is that there is not a breach of the Act. Where appropriate, the developers of this database have listed evidence which could be used to show compliance if a breach was to be found. Many Best Management Practice (BMP) schemes and other certifications in Australian agriculture include this evidence for accreditation.

The following documentation/information is required to provide evidence of compliance.

Farmers are aware of the RIC and are able to access concessional lending if in financial need or they meet the requirements.

Additional information: The entity this legislation originates from.

Federal Register of Legislation →

Source documents: Links to the legislation documents.

https://www.legislation.gov.au/C2018A00006/2019-09-01/2019-09-01/text/original/pdf

The SR Database is funded by the Australian Government Department of Agriculture, Fisheries & Forestry through the National Agriculture Traceability Grants Program. Project delivery is led by the Australian Farm Institute.

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LRDB v0.2

Sustainability-related Regulations Database

Regional Investment Corporation Act 2018 (Cth)

Description: A short description of the legislation.

Application to Australian agriculture: Where the legislation is applicable.

Additional information: The entity this legislation originates from.

Source documents: Links to the legislation documents.