Regional Investment Corporation | Finance Knowledge Graph

This site is generated from open public information stored in the Finance Knowledge Graph. For more information, please see: About structure.gov.au.

Regional Investment Corporation ^GGS℗

Submitted by Anonymous (not verified) on Fri, 02/17/2023 - 02:05

Aliases

Regional Investment Corporation

Link

https://www.ric.gov.au/

Portfolio

AGRICULTURE, FISHERIES AND FORESTRY

Governance Characteristics

Type of Body

Corporate Commonwealth entity

Accountable authority

Board of the Regional Investment Corporation

Lead Body

No

Institutional sector classification

General Government Sector - (GGS)

Employment instruments

Does not employ under Public Service Act 1999

Establishing instruments

Regional Investment Corporation Act 2018

Annual Report Requirements

Additional annual report requirement in establishing legislation

Yes

Regional Investment Corporation Act 2018 - 8 Functions of the Corporation

Corporate Plan Requirements

Section 35 of the PGPA Act applies

Yes

Section 35(3) of the PGPA Act applies

Yes

Current Budget Characteristics

Outcome #1: Encourage growth, investment and resilience in Australian farm businesses and rural and regional communities by delivering the Commonwealth's farm business concessional loans

#	Program	Body	Contribution
1.1	Regional Investment Corporation Program 1.1	Regional Investment Corporation	Objectives Provide practical support and investment to help rural and regional communities achieve economic growth, agricultural productivity, and resilience through the delivery of farm business loans, farm-related small business loans and plantation development loansRIC's farm business loans and farm related small business loans provide low-cost finance to businesses that are in financial need of assistance, to recover from short-term hardship, but are assessed as financially viable over the long-term and able to repay the loan. RIC also provides plantation development concessional loans to support new plantation developments and the replanting of bushfire-damaged plantations

#	Program	Body	Contribution
1.3	Department of Agriculture, Fisheries and Forestry Program 1.3	Department of Agriculture, Fisheries and Forestry	RIC works together with DAFF to ensure more sustainable, productive, internationally competitive and profitable Australian agricultural and forestry industries.
1.11	Department of Agriculture, Fisheries and Forestry Program 1.11	Department of Agriculture, Fisheries and Forestry	RIC works together with DAFF to ensure more sustainable, productive, internationally competitive and profitable Australian agricultural and forestry industries.

Keys Chart

Scroll on the sidebar to view keys
or view all keys here |

Select a Key in the chart below to view list of entities with that key

Government Finance Statistics (GFS) Classification
Key	Description
GGS	General Government Sector (GGS) - All Commonwealth entities and Commonwealth companies are part of the GGS unless stipulated by a GFS classification below.
F	Public Financial Corporation
T	Public Non-financial Corporation (Trading)

Definitions
Key	Description
Listed Entities	A listed entity is a non-corporate Commonwealth entity prescribed by an Act or the PGPA Rule. All non-corporate Commonwealth entities are “listed entities” except for Departments of State and Parliamentary Departments.

Government Requirements
Key	Description
℗	Subject to the requirements of the Commonwealth Procurement Rules (CPRs). All non-corporate Commonwealth entities are subject to the CPRs.
X	Entities that are exempt, or partially exempt, from government policy orders (section 22 of the PGPA Act).

Governance Structure or Characteristics
Key	Description
B	Prescribed as Government Business Enterprises under the PGPA Rule.
E	Executive Agency, through an Order made by the Governor General, under subsection 65(1) of the Public Service Act 1999
HC	The Attorney-General’s portfolio includes the High Court of Australia, which is part of the Commonwealth, is an “agency” named in the annual Appropriation Acts and is in the “General Government Sector”. However, it is not a Commonwealth entity under the PGPA Act, due to its status under its enabling legislation, which also sets its employment framework.
I	Inter-jurisdictional entities in nature (interacts with State, Territory or foreign governments)
M	Material entities and companies (comprising 99% of revenues, expenses, assets and liabilities of the total General Government Sector). All Departments of State are considered material in nature.
R	Corporate Commonwealth entities established by regulation under an Act and/or by a rule under the PGPA Act.
*	3 entities have a body corporate status but are prescribed as noncorporate Commonwealth entities

Employment Arrangements
Key	Description
PS Act	Officials are taken to be employed under Public Service Act 1999.
^	Entities that do not engage staff under the PS Act.
#	Entities can engage officials under enabling legislation as well as PS Act. These include Defence entities under the Defence Act 1903.
▲	Has officials employed under the Parliamentary Service Act 1999.

Type of Body
Key	Description
	Non-corporate Commonwealth entity is a Commonwealth entity that is not a body corporate.*
	Corporate Commonwealth entity is a Commonwealth entity that is a body corporate.*
	A Commonwealth company is a Corporations Act 2001 company that the Commonwealth controls.

This site is generated from open public information stored in the Finance Knowledge Graph. For more information, please see: About structure.gov.au.