INDUSTRY RESEARCH AND DEVELOPMENT ACT 1986 - SECT 27A Registering R&D entities for R&D activities

INDUSTRY RESEARCH AND DEVELOPMENT ACT 1986 - SECT 27A

  (1)   The Board must, on application by an R&D entity, decide whether to register or refuse to register the entity for either or both of the following for an income year:

  (a)   one or more specified activities as core R&D activities conducted during the income year;

  (b)   one or more specified activities as supporting R&D activities conducted during the income year.

Note 1:   A decision under this subsection is reviewable (see Division   5).

Note 2:   For requirements of applications, see section   27D.

  (2)   If the Board decides under subsection   (1) to register the R&D entity, the Board must do so consistently with:

  (a)   any findings already in force under subsection   27B(1) in relation to the application; and

  (b)   any findings already in force under subsection   28A(1) (advance findings about the nature of activities) in relation to the R&D entity.

  (3)   For each activity registered under subsection   (1) as a supporting R&D activity for an R&D entity for an income year, the registration is to also specify:

  (a)   one or more activities as the corresponding core R&D activities; and

  (b)   if any of those activities specified as a core R&D activity is not registered under paragraph   (1)(a) for the R&D entity for the income year--each income year for which that core R&D activity:

  (i)   was registered under paragraph   (1)(a) for the R&D entity; or

  (ii)   is proposed to be registered under paragraph   (1)(a) for the R&D entity.