Commonwealth of Australia

Industry Research and Development Act 1986

R&D Start Program (additional function of the IR&D Board) Direction No. 1 of 1996 (amendment No. 1 of 1997)

I, JOHN COLINTON MOORE, Minister for Industry, Science and Tourism of the         Commonwealth of Australia, acting under subsection 19 (1) of the Industry Research and  Development Act 1986, make the following instrument of amendment.

Dated 20th day of August 1997

JOHN MOORE

Minister for Industry, Science and Tourism

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Citation

1.  This direction may be cited as R&D Start Program (additional function of the IR&D Board) Direction No. 1 of 1996.

Amendment

2.  The R&D Start Program (additional function of the IR&D Board) Direction No. 1 of 1996            is amended as set out in this instrument.

Commencement

3.  This direction commences on the day on which particulars of the direction are published in            the Gazette.

[NOTE: As to publication of the particulars, see subsection 19(2) of the Act.]

Clause 3 (Interpretation)

4.   Under "R&D Start Program", following paragraph (f) insert:

"(g) Investment in or provision of finance to managed funds to invest in or provide finance to early stage companies based on new technology;"

Clause 4 (Additional function of the Board)

5.                    Omit paragraph 4(1)(c), and insert:

"(c) to authorise payments by way of grant, investment, loan or other financial accommodation made by the Commonwealth;"