Industry Research and Development (Capacity Investment Scheme Program) Instrument 2023

made under section 33 of the

Industry Research and Development Act 1986

Compilation No. 1 

Compilation date: 28 March 2024

Includes amendments: F2024L00396

About this compilation

This compilation

This is a compilation of the Industry Research and Development (Capacity Investment Scheme Program) Instrument 2023 that shows the text of the law as amended and in force on 28 March 2024 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents

1  Name

3  Authority

4  Definitions

5  Prescribed program...............................................1

6  Specified legislative power

Endnotes 3

Endnote 1—About the endnotes 3

Endnote 2—Abbreviation key 4

Endnote 3—Legislation history 5

Endnote 4—Amendment history 6

1  Name

  This instrument is the Industry Research and Development (Capacity Investment Scheme Program) Instrument 2023.

3  Authority

  This instrument is made under section 33 of the Industry Research and Development Act 1986.

4  Definitions

  In this instrument:

Act means the Industry Research and Development Act 1986.

Kyoto Protocol means the Kyoto Protocol to the United Nations Framework Convention on Climate Change, done at Kyoto on 11 December 1997, as in force for Australia from time to time.

Paris Agreement means the Paris Agreement, done at Paris on 12 December 2015, as in force for Australia from time to time.

program: see subsection 5(1).

United Nations Framework Convention on Climate Change means the United Nations Framework Convention on Climate Change, done at New York on 9 May 1992, as in force for Australia from time to time.

5  Prescribed program

(1)    For the purposes of subsection 33(1) of the Act, the Capacity Investment Scheme Program (the program) is prescribed.

(2)    The program provides underwriting, either directly or indirectly, for either or both of the following projects:

(a)                clean dispatchable capacity projects;

(b)                renewable generation capacity projects.

(3)    The purpose of the program is to encourage new investment in clean renewable generation capacity and clean dispatchable capacity to support a reliable, affordable and low-emissions energy system.

(4)    Applicants for underwriting support may be required to provide a bond or other form of security as part of the application process.

6  Specified legislative power

For the purposes of subsection 33(3) of the Act, the powers of the Parliament to make laws with respect to the following are specified:

(a)    external affairs (within the meaning of paragraph 51(xxix) of the Constitution) as it relates to measures to give effect to Australia’s obligations under one or more of the following:

(i)                  the Kyoto Protocol, particularly Article 10;

(ii)               the Paris Agreement, particularly Article 4;

(iii)             the United Nations Framework Convention on Climate Change, particularly Article 4;

(b)    matters in respect of which the Constitution makes provision until the Parliament otherwise provides (within the meaning of paragraph 51(xxxvi) of the Constitution), together with section 96 of the Constitution (financial assistance to States).

Endnotes

Endnote 1—About the endnotes

The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Abbreviation key—Endnote 2

The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4

Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.

If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and “(md not incorp)” is added to the amendment history.

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history