Industry Research and Development Act 1986 - Biotechnology Innovation Fund Directions No. 1 of 2002 (Cth)

Commonwealth of Australia

Industry Research and Development Act 1986

Biotechnology Innovation Fund Directions No 1 of 2002

I, Ian Elgin Macfarlane, Minister for Industry, Tourism and Resources, acting under subsections 19 (1) and 20 (1) of the Industry Research and Development Act 1986, give the following directions to the Industry Research and Development Board.

Dated 21 February 2002

Signed Ian Macfarlane

Minister for Industry, Tourism and Resources

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PART 1 — PRELIMINARY

Name of directions

1. These directions are the Biotechnology Innovation Fund Directions No 1 of 2002.

Commencement

2. These directions commence on the day on which the directions are published in the Gazette.

Object of these directions

3. The object of this instrument is to give directions to the Board in relation to:

(a) an additional function of the Board to administer the Biotechnology Innovation Fund, a program to:

(i) encourage Australian industry to commercialise promising biotechnology developed in Australia; and

(ii) assist in attracting private sector investment in biotechnology.

(b) the policies and practices to be followed by the Board in the performance of the function.

Interpretation

4. (1) In these directions, unless the contrary intention applies:

accept means admit for assessment in accordance with these directions and acceptance has a corresponding meaning.

agreement means an agreement mentioned in clause 16;

applicant means a company that makes an application or a proposed company on whose behalf an application is made;

application means an application for financial assistance and includes an application for financial assistance made before these directions commence;

biotechnology means biotechnology of a kind set out in a guideline or determination of the Board;