Rural Research and Development Legislation Amendment Act 2013 (146 of 2013)
Schedule 3 Funding agreements
Primary Industries and Energy Research and Development Act 1989
2 At the end of section 33
Add:
Spending must be in accordance with funding agreement
(3) After 30 June 2015, an R&D Corporation must not spend money that has been paid to the R&D Corporation by the Commonwealth unless the R&D Corporation does so in accordance with a written funding agreement.
(4) The Minister may enter into a funding agreement with an R&D Corporation. The agreement must specify the terms and conditions on which money paid to the R&D Corporation by the Commonwealth will be spent.
(5) A funding agreement must be published on the website of the R&D Corporation concerned as soon as practicable after it is made or varied.
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