Pt IV inserted by No 63 of 2016, s 3 and Sch 1 item 34, effective 20 October 2016. No 63 of 2016, s 3 and Sch 1 item 39 contains the following application and transitional provision:
39 Application and transitional provisions
(1)
A person who, immediately before the commencement of this item, was a member of the Board continues, after that commencement, as a member of the Board as if the person had been appointed by the Minister.
(2)
The amendments apply in relation to appointed members whether the members were appointed before or after the commencement of this Part.
(3)
If a direction under section
18A
,
19
,
19B
or
20
of the
Industry Research and Development Act 1986
was in force immediately before the commencement of this item, the direction is taken, after that commencement, to have been given under section 19 as inserted by item 28 of this Schedule.
Former Part IV repealed by No 15 of 2004, s 3 and Sch 1 item 29, effective 11 September 2004. Part IV formerly read:
PART IV
-
FINANCE
SECTION 40 MONEY TO BE APPROPRIATED
40
Payments of subsidies shall be made out of money appropriated by the Parliament for the purposes of this Act.
NOTICE OF MONEY AVAILABLE FOR BOARD
41(1)
The Minister shall, as soon as practicable after each 1 July, by notice in writing to the Chairperson, specify the total amount expected to be available to the Board during the financial year commencing on that 1 July.
41(2)
In this section, a reference to the Chairperson shall, if there is an acting Chairperson, be read as a reference to the acting Chairperson.
ADVANCES IN RESPECT OF SUBSIDIES
42(1)
Subject to subsection (2), the Board may, in its discretion, authorise the payment to an eligible recipient of an advance in respect of a subsidy that may become payable to the eligible recipient.
42(2)
The Board shall not authorise the payment to an eligible recipient under subsection (1) of an amount in respect of a subsidy (other than a subsidy by way of a loan) in an amount that exceeds the amount that, in the opinion of the Board, would be the amount of the subsidy payable to the eligible recipient in respect of expenditure to be incurred by the eligible recipient during the 3 months immediately following the authorisation of the payment of the amount.
42(3)
Where the Board has authorised a payment to an eligible recipient under subsection (1) in relation to a project, the Board may terminate the authorisation or reduce the amount of the payments authorised if, in the opinion of the Board, the project, or expenditure on the project, is not progressing to the extent estimated by the Board when the authorisation was given.
42(4)
Where an advance has been made to an eligible recipient in pursuance of subsection (1) in respect of a subsidy, the eligible recipient is liable, if the subsidy does not become payable or the amount of the subsidy is less than the advance, to repay to the Commonwealth, upon demand being made by the Board, the amount of the advance or so much of the advance as exceeds the amount of the subsidy, as the case may be.
42(5)
Where an eligible recipient is liable to repay an amount to the Commonwealth under subsection (4), the Commonwealth may recover that amount as a debt due to the Commonwealth by action in a court of competent jurisdiction.
42(6)
Where an eligible recipient is liable to repay an amount to the Commonwealth under subsection (4), that amount may be deducted from any other amount that is payable to the eligible recipient under this Act and, where the first-mentioned amount is so deducted, the other amount shall, notwithstanding the deduction, be deemed to have been paid in full to the eligible recipient.
42(7)
In this section:
eligible recipient
means:
(a)
a researcher; or
(b)
an Australian government body.
History
S 42 amended by No 66 of 1991 and No 78 of 1996.
SUBSIDIES NOT TO EXCEED MONEY AVAILABLE
43
The Board shall not authorise payment of a subsidy or of an advance in respect of a subsidy unless money appropriated by the Parliament is available for the payment of that subsidy or advance, as the case may be, together with all other subsidies, and advances in respect of subsidies, that have been authorised but not paid.
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