Rural Research and Development Legislation Amendment Act 2013 (146 of 2013)

Schedule 4   Separately levied fisheries

Primary Industries and Energy Research and Development Act 1989

14   Before section 34

Insert:

33B State and Territory fisheries R&D money

(1) This section applies if:

(a) a State or Territory makes a payment to an R&D Corporation in respect of research and development in respect of the fishing industry; or

(b) the Commonwealth makes a payment to an R&D Corporation of money paid by a State or Territory to the Commonwealth in respect of research and development in respect of the fishing industry.

(2) The R&D Corporation must, within 5 years of receiving the payment, spend an equal amount on R&D activities of relevance to the State or Territory.

33C Separately levied fisheries money

Money received by an R&D Corporation under section 30B in respect of a separately levied fishery may be spent for purposes related to the separately levied fishery only.