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

Schedule 12   Innovation Australia

Part 3   Transitional provisions

282   Things done by a former Board before commencement

(1) Any thing done by a former Board before the commencement of this item is taken, on and after that commencement, to have been done by the new Board.

(2) Without limiting subitem (1), examples of things done by a former Board include, but are not limited to, the following:

(a) the making of determinations or decisions by the former Board;

(b) the granting or revoking of registrations, approvals, certificates or other things by the former Board;

(c) the making of requests by the former Board;

(d) the giving of directions by the former Board;

(e) the making of guidelines by the former Board;

(f) the formulation of criteria by the former Board;

(g) the approval of forms by the former Board;

(h) the making of requirements by the former Board;

(i) the making of agreements by the former Board;

(j) the giving of notices, documents or other things by the former Board.

(3) Without limiting subitem (1), if, after the commencement of this item, the new Board is required under section 46 of the Industry Research and Development Act 1986 (as amended by this Schedule) to give a report in relation to a financial year that commenced before the commencement of this item, then the new Board must include in the report any matter that, had the amendments made by this Schedule not been made, a former Board would have been required to include in a report for that year under:

(a) section 46 of the Industry Research and Development Act 1986 (as in force before the commencement of this item); or

(b) section 75 of the Pooled Development Funds Act 1992 (as in force before the commencement of this item); or

(c) section 33-1 of the Venture Capital Act 2002 (as in force before the commencement of this item).