Obtain Cabinet approval of the drafting instructions to revise the NPF Act incorporating the reform plan approved by the Cabinet to strengthen its governance structure and investment framework.
Introduced at R0. Macroeconomic criticality: To improve the long-term financial viability of the NPF and reduce fiscal risks. At R1, On track. The TA from Australian Treasury has been secured and is currently assisting to progress the review of the NPF Act. The drafting instruction is expected to get cabinet approval by June 2012. At R2, Met in July. The Drafting instructions for the NPF Act Review was submitted to Cabinet and was endorsed. The next step is to do consultation with key stakeholders which is expected to start no later than September 2012.