Tax Laws Amendment (2007 Measures No. 5) Act 2007 (164 of 2007)

Schedule 12   Innovation Australia

Part 1   Main amendments

Industry Research and Development Act 1986

24   After section 19A

Insert:

19B Minister may require provision of advice

(1) The Minister may, by writing given to the Board, require the Board to advise the Minister about a matter connected with the operation of:

(a) this Act, the Pooled Development Funds Act 1992 or the Venture Capital Act 2002; or

(b) the Commonwealth's income tax laws as they operate in relation to this Act, the Pooled Development Funds Act 1992 or the Venture Capital Act 2002.

(2) The Board must comply with such a requirement.

(3) A requirement made under subsection (1) is not a legislative instrument.