Industry Research and Development Amendment (Innovation and Science Australia) Act 2016 (63 of 2016)

Schedule 1   Amendments

Part 1   Main amendments

Industry Research and Development Act 1986

28   Sections 18A to 20

Repeal the sections, substitute:

19 Minister may give directions to the Board

Directions conferring additional functions

(1) The Minister may, by notifiable instrument, give directions to the Board that a function specified in the direction (being a function relating to the object of this Act, the Pooled Development Funds Act 1992 or the Venture Capital Act 2002) is an additional function of the Board.

Directions about the performance of functions and exercise of powers

(2) The Minister may, by notifiable instrument, give written directions to the Board about the performance of its functions or the exercise of its powers.

(3) Without limiting subsection (2), the Minister may give directions to the Board in relation to:

(a) the provision of technical assessments to the Minister in relation to programs or activities, or proposals for programs or activities, under or in connection with this Act; or

(b) the provision of a report or advice on a matter that relates to:

(i) any of the Board's functions or powers; or

(ii) the operation of this Act, the Pooled Development Funds Act 1992 or the Venture Capital Act 2002; or

(iii) the operation of 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; or

(c) policies and practices to be followed by the Board in the performance of its functions and the exercise of its powers.

(4) Subsection (2) does not empower the Minister to direct that the Board perform any of its functions, or exercise any of its powers, in a particular way in a particular case.

Limits and obligations relating to directions under this section

(5) A direction under subsection (1) or (2) must not confer a function on the Board to commit or authorise the expenditure of Commonwealth money.

(6) The Board must comply with a direction given under this section.