52B  Declaration of systems of national significance by the Minister

• (1)

  The Minister may, in writing, declare a particular asset to be a system of national significance if:

  • (a)

    the asset is a critical infrastructure asset; and

  • (b)

    the Minister is satisfied that the asset is of national significance.

• (2)

  In determining whether an asset is of national significance for the purposes of subsection (1), the Minister must have regard to:

  • (a)

    the consequences that would arise for:

    • (i)

      the social or economic stability of Australia or its people; or

    • (ii)

      the defence of Australia; or

    • (iii)

      national security;

      if a hazard were to occur that had a significant relevant impact on the asset; and

  • (b)

    if the Minister is aware of one or more interdependencies between the asset and one or more other critical infrastructure assets—the nature and extent of those interdependencies; and

  • (c)

    such other matters (if any) as the Minister considers relevant.

• (3)

  The Minister must notify the following of the declaration, in writing, within 30 days after making the declaration in relation to an asset:

  • (a)

    the responsible entity for the asset;

  • (aa)

    the Parliamentary Joint Committee on Intelligence and Security;

  • (b)

    if the asset is a tangible asset located (wholly or partly) in a State, the Australian Capital Territory or the Northern Territory—the First Minister of the State, the Australian Capital Territory or the Northern Territory, as the case requires.

• (4)

  A declaration under subsection (1) is not a legislative instrument.

• (5)

  To avoid doubt, an asset may be the subject of a declaration under subsection (1) even if the asset is not a system.