Contents
Part 1—Establishment 1
1 Name.................................................................................................................................... ....1
2 Commencement........................................................................................................................ 1
3 Authority.................................................................................................................................. 1
4 Definitions 1
5 Establishment of the special account......................................................................................... 1
6 Accountable authority responsible for the special account........................................................ 2
Part 2—Special account credits and debits 2
7 Amounts that may be credited to the special account................................................................ 2
8 Purposes of the special account................................................................................................ 2
Part 1—Establishment
1 Name
This instrument is the PGPA Act Determination (Biomedical Translation Fund Special Account 2023).
2 Commencement
(1) Each provision of this instrument 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.
| Column 1 | Column 2 | Column 3 |
| Provisions | Commencement | Date/Details |
| The whole of this instrument | The later of the day mentioned in paragraph 79(5)(a) of the Act and 1 July 2023
| |
(2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any version of this instrument published on the Federal Register of Legislation.
3 Authority
This instrument is made under subsection 78(1) of the Act.
4 Definitions
In this instrument:
Act means the Public Governance, Performance and Accountability Act 2013.
the special account means the Biomedical Translation Fund Special Account 2023 established by this instrument.
5 Establishment of the special account
For paragraph 78(1)(a) of the Act, the Biomedical Translation Fund Special Account 2023 is established as a special account.
6 Accountable authority responsible for the special account
For paragraph 78(1)(d) of the Act, the accountable authority responsible for the special account is the Secretary of the Department of Health and Aged Care.
Part 2—Special account credits and debits
7 Amounts that may be credited to the special account
For paragraph 78(1)(b) of the Act, the following amounts may be credited to the special account:
(a) an amount appropriated by the Parliament for the purposes of the special account;
(b) an amount received in the course of the performance of functions that relate to one or more purposes of the special account;
(c) an amount received from any person for one or more purposes of the special account.
Note: Subsection 58(5) of the Act requires the proceeds of an investment of an amount debited from a special account to be credited to that special account.
8 Purposes of the special account
For paragraph 78(1)(c) of the Act, the purposes of the special account, in relation to which amounts may be debited from the special account, are:
(a) to provide capital to promote the commercialisation of biomedical discoveries in accordance with the Biomedical Translation Fund Programme Guidelines;
(b) to carry out activities that are incidental to the purpose in paragraph (a), including dealing with direct and indirect costs;
(c) to repay amounts where a court order, Act or other law requires or permits the repayment of an amount received; and
(d) to reduce the balance of the special account (and, therefore, the available appropriation for the special account) without making a real or notional payment.