Industry Research and Development Act 1986
The Board must, as soon as practicable after the end of each financial year, prepare and give to the Minister, for presentation to the Parliament, a report on its operations during that year.
Note:
See also section 34C of the Acts Interpretation Act 1901 , which contains extra rules about annual reports.
View history note
Hide history noteS 46 substituted by No 63 of 2016, s 3 and Sch 1 item 36, effective 20 October 2016. For application and transitional provisions, see note under Pt
IV
heading. S 46 formerly read:
S 46(1) amended by No 164 of 2007, s 3 and Sch 12 item 45, by substituting
"
operations
"
for
"
activities
"
, effective 27 September 2007. and must include an analysis of the tax offset scheme, including the tax offset thresholds, for that year; and S 46(2) amended by No 93 of 2011, s 3 and Sch 2 items 35 to 37, by substituting
"
R
&
D activities
"
for
"
research and development activities
"
in para (b)(iv), substituting para (ca) and inserting para (f) at the end, effective 8 September 2011. For application, savings and transitional provisions see note under Part
III
heading. Para (ca) formerly read:
S 46(2) amended by No 164 of 2007, s 3 and Sch 12 item 46, by substituting
"
, the
Pooled Development Funds Act 1992
and the
Venture Capital Act 2002
during the year in achieving the objects of those Acts
"
for
"
during the year in achieving the object of this Act
"
in para (a), effective 27 September 2007. S 46(2) amended by No 15 of 2004, s 3 and Sch 1 items 32 to 36, by substituting para (a), substituting all the words before para (b)(i) in para (b), substituting
"
Commonwealth money
"
for
"
subsidy
"
in para (b)(ii), substituting para (b)(iv) for para (b)(iv), (v) and (vi) and substituting para (c), effective 11 September 2004. Para (a) formerly read: The words before para (b)(i) in para (b) formerly read: Para (b)(iv), (v) and (vi) formerly read: Para (c) formerly read: S 46(2) amended by No 170 of 2001, s 3 and Sch 1 item 2A by inserting para (ca), applicable to reports in relation to the financial year commencing on 1 July 2001 and all later financial years. S 46(2A) inserted by No 164 of 2007, s 3 and Sch 12 item 47, effective 27 September 2007.
transitional arrangements
S 46(4) inserted by No 15 of 2004, s 3 and Sch 1 item 37, effective 11 September 2004.
SECTION 46 ANNUAL REPORT
46(1)
The Board shall, as soon as practicable after 30 June in each year after 1986, prepare and give to the Minister a report on the operations of the Board during the financial year that ended on that 30 June.
46(2)
A report under this section in relation to a financial year:
(a)
must contain an analysis of the effectiveness of the operations of the Board under this Act, the
Pooled Development Funds Act 1992
and the
Venture Capital Act 2002
during the year in achieving the objects of those Acts; and
(b)
if the Board has entered into agreements under this Act, including agreements entered into under transitional arrangements, during the year
-
must set out, in relation to each such agreement entered into:
(i)
the name of each party to the agreement (other than the Commonwealth);
(ii)
the total amount of Commonwealth money payable under the agreement;
(iii)
the proportion of the expenditure on the project to which the agreement relates which is represented by that amount;
(iv)
subject to section
47
, particulars of the R
&
D activities to which the agreement relates; and
(v)
(Repealed by No 15 of 2004)
(vi)
(Repealed by No 15 of 2004)
(c)
if the Board has entered into agreements under this Act, including agreements entered into under transitional arrangements, and those agreements are still in force during the year
-
must set out, in relation to each such agreement entered into:
(i)
the name of each researcher to whom Commonwealth money has been paid in respect of a research and development program during the year; and
(ii)
the amount of Commonwealth money paid to that researcher in respect of that program in the year; and
(ca)
must set out:
(i)
the total number of applications during the year for registration under section
27A
for a tax offset under Division
355
of the
Income Tax Assessment Act 1997
; and
(ii)
the total amounts of the offsets involved; and
(iii)
an analysis of the operation of the R
&
D tax offset scheme for the year; and
(d)
shall include particulars of any directions or other matter, particulars of which were published in the
Gazette
in accordance with this Act during the year; and
(e)
must include particulars of any advice given to the Board or a committee by the Minister under section
20A
but need not state whether the Board or committee acted in accordance with the advice; and
(f)
must set out a copy of the register mentioned in section
29J
as it exists at the end of the year.
(ca)
must set out:
(i)
the total number of applications during the financial year for registration of eligible companies under section
39J
that specified an intention to choose a tax offset under section
73I
of the
Income Tax Assessment Act 1936
; and
(ii)
the total amounts of the offsets involved;
(a)
shall contain an analysis of the effectiveness of the operations under this Act during the year in achieving the object of this Act, being an analysis that deals separately with discretionary grants agreements, generic technology grant agreements, national interest agreements and national procurement development program agreements; and
(b)
shall set out, in relation to each agreement under this Act entered into during the year:
(iv)
subject to section 47, particulars of the research and development activities to which the agreement relates;
(v)
in the case of a generic technology grant agreement, a national interest agreement or a national procurement development program agreement
-
the name of each researcher (other than natural persons and the parties to the agreement) who is expected to be involved in the project to which the agreement relates; and
(vi)
in the case of agreements referred to in subparagraph (v)
-
subject to section 47, particulars of the expected commercial application of any results of the project to which the agreement relates; and
(c)
shall set out:
(i)
the name of each researcher or Australian government body to whom subsidy was paid during the year; and
(ii)
the amount of subsidy paid to each researcher or Australian government body in the year; and
46(2A)
The report must also contain:
(a)
a list of all PDFs in existence as at the end of the financial year; and
(b)
a list of all companies that became PDFs during the financial year; and
(c)
a list of all companies that ceased to be PDFs during the financial year; and
(d)
a list of the entities registered under Part
7A
of the
Pooled Development Funds Act 1992
as at the end of the financial year; and
(e)
a list of the entities that became registered under Part
7A
of the
Pooled Development Funds Act 1992
during the financial year; and
(f)
a list of the entities whose registration under Part
7A
of the
Pooled Development Funds Act 1992
was revoked during the financial year; and
(g)
a list of the partnerships registered under Part
2
of the
Venture Capital Act 2002
as at the end of the financial year; and
(h)
a list of the partnerships that became registered under Part
2
of the
Venture Capital Act 2002
during the financial year; and
(i)
a list of the partnerships whose registration under Part
2
of the
Venture Capital Act 2002
was revoked during the financial year; and
(j)
a list of the entities registered under Part
3
of the
Venture Capital Act 2002
as at the end of the financial year; and
(k)
a list of the entities that became registered under Part
3
of the
Venture Capital Act 2002
during the financial year; and
(l)
a list of the entities whose registration under Part
3
of the
Venture Capital Act 2002
was revoked during the financial year.
46(3)
The Minister shall cause a copy of the report given under subsection (1) to be laid before each House of the Parliament within 15 sitting days of that House after the day on which the Minister received the report.
46(4)
In this section:
means arrangements provided for in item 28 of Schedule 1 to the
Industry Research and Development Amendment Act 2004
.
S 46 amended by No 66 of 1991 and No 78 of 1996.
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