2.  Coverage of the national PPP policy and guidelines

Infrastructure Australia (IA) is responsible for the policy and guidelines. With the assistance of IA, COAG will monitor, review and from time to time refine the policy and guidelines. COAG is responsible for approving substantive changes to the policy and guidelines.

At the Australian Government level, the policy and guidelines apply to all agencies subject to the Financial Management and Accountability Act 1997 (FMA Act) unless a specific government decision advises otherwise. For example, agency chief executives may put in place measures which allow exemption from the policy and guidelines for projects which involve national security issues. Any exemption must be adequately documented for future audit scrutiny.

The national policy and guidelines update and replace the majority of Australian Government PPP policy and guidance material.

The replaced financial management guidance (FMG) publications are:

•  Policy Principles for the use of Public Private Partnerships (No. 21);

•  Introductory Guide to the Public Private Partnerships (No. 16);

•  Public Private Partnerships: Risk Management (No. 18); and

•  Public Private Partnerships: Contract Management (No. 19)

FMG No. 17, Public Private Partnerships: Business Case Development, has been retained to assist agencies with the process and requirements for obtaining Australian Government approval of PPP projects.