Clean Energy Finance Corporation told to prepare for its demise

#Energy

Despite Abbott government instruction, the green bank says it is legally obliged to continue operating until legislated not to

The Abbott government has instructed the Clean Energy Finance Corporation to prepare its accounts for the upcoming mid-year economic statement on the basis that it will stop making investments on 31 December and cease to exist on 30 June next year.

But the $10bn so-called green bank says it is legally obliged to continue operating as normal, and will do so, at the same time as it prepares its accounts in line with the treasury instruction.

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