Industry Research and Development Act 1986

PART II - ADMINISTRATION

SECTION 7

7 FUNCTIONS OF BOARD
The functions of the Board are:

(aa) to provide independent strategic advice to the Secretary, the Minister and other Ministers in relation to industry, innovation, science and research matters; and

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(ab) to undertake audits of, and prepare, review and amend plans in relation to, industry, innovation, science and research matters; and

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(ac) to promote investment in industry, innovation, science and research; and

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(ad) to commission and publish research in relation to industry, innovation, science and research matters; and

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(aaa) (Repealed by No 63 of 2016)

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(a) such functions as are conferred on it by a provision of this Act (other than this section); and

(b) to evaluate, and to advise the Minister about, the Pooled Development Funds Act 1992 and the Venture Capital Act 2002 , and the Commonwealth ' s income tax laws as they operate in relation to those Acts; and

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(b) (Repealed by No 15 of 2004)

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(c) such functions as are conferred on it by the Pooled Development Funds Act 1992 , the Venture Capital Act 2002 or any other Act; and

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(ca) to give information it obtains under Part 2 , 3 or 4 of the Venture Capital Act 2002 to the Commissioner for the purposes of implementing and administering the taxation law (within the meaning of the Taxation Administration Act 1953 ); and

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(d) to do anything incidental or conducive to the performance of any of the above functions.

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History

S 7 amended by No 63 of 2016, s 3 and Sch 1 items 14 and 15, by substituting para (aa) to (ad) for para (aaa) and substituting para (d), effective 20 October 2016. For application and transitional provisions, see note under Pt IV heading. Para (aaa) and (d) formerly read:

(aaa) in accordance with Ministerial directions under section 18A or 19 - to provide technical assessments to the Minister in relation to:

(i) proposals for research and development, or proposals for innovation, under programs to which those directions apply; or

(ii) the progress of particular research and development or particular innovation initiatives in respect of which the expenditure of Commonwealth money has been approved under such programs; and

(d) any functions specified in a direction in force under section 19.

S 7 amended by No 93 of 2011, s 3 and Sch 2 items 29 and 30, by repealing para (aa) and substituting " Commissioner " for " Commissioner of Taxation " in para (ca), effective 8 September 2011. For application, savings and transitional provisions see note under Part III heading. Para (aa) formerly read:

(aa) such functions as are conferred on it by the finance scheme guidelines; and

S 7 amended by No 164 of 2007, s 3 and Sch 12 items 12 to 14, by inserting para (b), inserting " the Pooled Development Funds Act 1992 , the Venture Capital Act 2002 or " after " by " in para (c) and inserting para (ca), effective 27 September 2007.

S 7 amended by No 15 of 2004, s 3 and Sch 1 items 20 to 22, by inserting para (aaa), inserting " and " at the end of paras (a) and (aa) and repealing para (b), effective 11 September 2004. For transitional provisions, see note under Part III heading. Para (b) formerly read:

(b) to make recommendations to the Minister on the proportions of the money to be committed in a financial year for the purposes of this Act that should be committed in respect of each of discretionary grants, generic technology grants, payments under national interest agreements and payments under national procurement development program agreements;

S 7 amended by Nos 66 of 1991 and 224 of 1992.

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