The following Conditions Precedent, as a minimum, will generally be required to be satisfied by the private party (the Conditions Precedent selected to apply will depend on the nature of the project, structure of the consortium and any other specific government requirements):
(a) delivery of executed copies (excluding execution by government) of relevant Project Contracts and major sub-contracts in a form and substance satisfactory to government;
(b) delivery of certified copies of all finance documents duly executed, and evidence that all Conditions Precedent to funding have been satisfied (or waived) in accordance with the finance documents;
(c) evidence of any authorisation (in form and substance acceptable to government) required by the private party, financiers and major sub-contractors to enter into the Project Contracts, major sub-contracts and financing agreements (as applicable);
(d) effecting of required insurance policies and provision of certificates of currency; and
(e) provision of any required corporate or consortium details.
Government may require that a binding private tax ruling in relation to the operation of Division 250 of the Income Tax Assessment Act 1936 (Cwlth) and the Income Tax Assessment Act 1997 (Cwlth) be provided as a Condition Precedent. More specifically, government will seek greater comfort around the areas of project financing and ownership structures.