This instrument is the Industry Research and Development (Resourcing Australia’s Prosperity Program) Instrument 2024.

(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.

Commencement information
Column 1	Column 2	Column 3
Provisions	Commencement	Date/Details
1. The whole of this instrument	The day after this instrument is registered.

Note: This table relates only to the provisions of this instrument as originally made.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

(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 published version of this instrument.

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.

program: see subsection 5(1).

5 Prescribed program

For the purposes of subsection 33(1) of the Act, the Resourcing Australia’s Prosperity Program (the program) is prescribed.
The program provides funding to produce a minerals, energy and groundwater resources prospectus for Australia, including through the following key activities:

(a) collecting and analysing new and existing geoscience data using geophysical, geochemical, geological and other tools and techniques;

(b) assessing Australia’s mineral, energy, and groundwater resource potential, geological storage potential, offshore renewable energy site suitability, techno-economics, and environmental, social and governance (ESG) factors;

(c) developing, maintaining and delivering geoscience data and information, decision support tools, and online platforms; and

(d) working with regional communities, industry, landholders, academia and First Nations peoples including through awareness raising, consultation and co-design of projects.

The purpose of the program is to deliver an improved understanding of Australia’s potential for mineral, energy, and groundwater resources onshore and offshore. The program will identify the resources for a net zero emissions economy, attract investment, accelerate resource discovery and development, secure Australia’s sovereign capability in critical resources development, support agriculture and sustainable management of our natural resources. It will also empower First Nations peoples and local community to understand and manage their land and water resources.

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) matters incidental to the exercise of the executive power of the Commonwealth, including enterprises and activities that are peculiarly adapted to the government of a nation and cannot otherwise be carried on for the benefit of the nation (see paragraph 51(xxxix) and section 61 of the Constitution);

(b) external affairs (within the meaning of paragraph 51(xxix) of the Constitution);