Federal Register of Legislation - Australian Government

Primary content

Act No. 101 of 2021 as made
An Act to amend the Industry Research and Development Act 1986, and for related purposes
Administered by: Industry, Science, Energy and Resources
Originating Bill: Industry Research and Development Amendment (Industry Innovation and Science Australia) Bill 2021
Registered 17 Sep 2021
Date of Assent 10 Sep 2021
Table of contents.

Commonwealth Coat of Arms of Australia

 

 

 

 

 

 

Industry Research and Development Amendment (Industry Innovation and Science Australia) Act 2021

 

No. 101, 2021

 

 

 

 

 

An Act to amend the Industry Research and Development Act 1986, and for related purposes

  

  


Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 2

3............ Schedules............................................................................................ 2

Schedule 1—Amendments                                                                                                3

Part 1—Main amendments                                                                                         3

Industry Research and Development Act 1986                                                      3

Part 2—Consequential amendments                                                                      4

Income Tax Assessment Act 1997                                                                              4

Pooled Development Funds Act 1992                                                                     4

Taxation Administration Act 1953                                                                           4

Venture Capital Act 2002                                                                                          5

 


Commonwealth Coat of Arms of Australia

 

 

Industry Research and Development Amendment (Industry Innovation and Science Australia) Act 2021

No. 101, 2021

 

 

 

An Act to amend the Industry Research and Development Act 1986, and for related purposes

[Assented to 10 September 2021]

The Parliament of Australia enacts:

1  Short title

                   This Act is the Industry Research and Development Amendment (Industry Innovation and Science Australia) Act 2021.

2  Commencement

             (1)  Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  The whole of this Act

The day after this Act receives the Royal Assent.

11 September 2021

Note:          This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

             (2)  Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3  Schedules

                   Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1Amendments

Part 1Main amendments

Industry Research and Development Act 1986

1  Subsection 4(1) (definition of Board)

Omit “Innovation and Science Australia”, substitute “Industry Innovation and Science Australia”.

2  Section 6

Repeal the section, substitute:

6  Establishment of Industry Innovation and Science Australia

                   The body known immediately before the commencement of the Industry Research and Development Amendment (Industry Innovation and Science Australia) Act 2021 as Innovation and Science Australia is continued in existence with the new name Industry Innovation and Science Australia.

Note:          Subsection 25B(1) of the Acts Interpretation Act 1901 provides that a body whose name is altered by an Act continues in existence under the new name so that its identity is not affected.

Part 2Consequential amendments

Income Tax Assessment Act 1997

3  The whole of the Act

The Income Tax Assessment Act 1997 is amended as follows:

                     (a)  by omitting “*Innovation and Science Australia” (wherever occurring) and substituting “*Industry Innovation and Science Australia”;

                     (b)  by omitting “Innovation and Science Australia” (wherever occurring) and substituting “Industry Innovation and Science Australia”;

                     (c)  by omitting “Innovation and Science Australia” (wherever occurring) and substituting “Industry Innovation and Science Australia”;

                     (d)  by omitting “Innovation and Science Australia” (wherever occurring) and substituting “Industry Innovation and Science Australia”;

                     (e)  by omitting “Innovation and Science Australia” (wherever occurring) and substituting “Industry Innovation and Science Australia”.

Pooled Development Funds Act 1992

4  Subsection 4(1) (definition of Board)

Omit “Innovation and Science Australia”, substitute “Industry Innovation and Science Australia”.

Taxation Administration Act 1953

5  The whole of the Act

The Taxation Administration Act 1953 is amended as follows:

                     (a)  by omitting “*Innovation and Science Australia” (wherever occurring) and substituting “*Industry Innovation and Science Australia”;

                     (b)  by omitting “*Innovation and Science Australia’s” (wherever occurring) and substituting “*Industry Innovation and Science Australia’s”;

                     (c)  by omitting “Innovation and Science Australia” (wherever occurring) and substituting “Industry Innovation and Science Australia”;

                     (d)  by omitting “*Innovation and Science Australia” (wherever occurring) and substituting “*Industry Innovation and Science Australia”;

                     (e)  by omitting “Innovation and Science Australia” (wherever occurring) and substituting “Industry Innovation and Science Australia”.

Venture Capital Act 2002

6  The whole of the Act

The Venture Capital Act 2002 is amended as follows:

                     (a)  by omitting “*Innovation and Science Australia” (wherever occurring) and substituting “*Industry Innovation and Science Australia”;

                     (b)  by omitting “*Innovation and Science Australia’s” (wherever occurring) and substituting “*Industry Innovation and Science Australia’s”;

                     (c)  by omitting “Innovation and Science Australia” (wherever occurring) and substituting “Industry Innovation and Science Australia”;

                     (d)  by omitting “Innovation and Science Australia’s” (wherever occurring) and substituting “Industry Innovation and Science Australia’s”;

                     (e)  by omitting “Innovation and Science Australia” (wherever occurring) and substituting “Industry Innovation and Science Australia”;

                      (f)  by omitting “Innovation and Science Australia” (wherever occurring) and substituting “Industry Innovation and Science Australia”.

 


[Minister’s second reading speech made in—

Senate on 17 February 2021

House of Representatives on 24 June 2021]

(7/21)