Industry Research and Development Act 1986

S 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:

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.

 View history note

 Hide history note

History

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.

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(v) (Repealed by No 15 of 2004)

(vi) (Repealed by No 15 of 2004)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

and must include an analysis of the tax offset scheme, including the tax offset thresholds, for that 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.

 View history note

 Hide history note

History

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:

(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;

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:

(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

The words before para (b)(i) in para (b) formerly read:

(b) shall set out, in relation to each agreement under this Act entered into during the year:

Para (b)(iv), (v) and (vi) formerly read:

(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

Para (c) formerly read:

(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

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.

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.

 View history note

 Hide history note

History

S 46(2A) inserted by No 164 of 2007, s 3 and Sch 12 item 47, effective 27 September 2007.

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:

transitional arrangements
means arrangements provided for in item 28 of Schedule 1 to the Industry Research and Development Amendment Act 2004 .

 View history note

 Hide history note

History

S 46(4) inserted by No 15 of 2004, s 3 and Sch 1 item 37, effective 11 September 2004.

S 46 amended by No 66 of 1991 and No 78 of 1996.