Commonwealth Consolidated Acts

INDUSTRY RESEARCH AND DEVELOPMENT ACT 1986 - SECT 39HB

[Board to make guidelines setting out criteria for entry on Register]

             (1)  The Board must, as soon as practicable (and, in any event, within 90 days) after the commencement of this section, formulate written guidelines ( commercial government bodies guidelines ) setting out criteria to be met by eligible government bodies wishing to be entered on the Register of Commercial Government Bodies.

[Guidelines to be published etc.]

             (2)  The Board must cause the commercial government bodies guidelines to be:

                     (a)  published in the Gazette ; and

                     (b)  made available, without charge, to any interested person.

[Matters to be taken into account in making guidelines]

             (3)  In making commercial government bodies guidelines about a particular kind of eligible government body, the matters to which the Board is to have regard include, but are not limited to:

                     (a)  the commercial environment in which the eligible government body operates; and

                     (b)  whether there is a framework for the oversight of the operations, and the monitoring of the performance, of the eligible government body and, if so, the nature of that framework; and

                     (c)  the extent to which the eligible government body is:

                              (i)  bound by regulatory laws of the Commonwealth, the States and the Territories; and

                             (ii)  subject to taxation and charges under the laws of the Commonwealth, the States and the Territories; and

                     (d)  the extent of private sector equity investment (whether direct or indirect through one or more interposed companies, partnerships or trusts) in the eligible government body; and

                     (e)  if the eligible government body is established by or under a law of the Commonwealth, a State or a Territory--the policies of the Commonwealth, the State or the Territory, as the case requires, regarding the issue of the extent to which the eligible government body should be treated as a fully commercial entity.

             (4)  The commercial government bodies guidelines must set out a criterion to the effect that an eligible government body will not be entered on the Register of Commercial Government Bodies with effect on a particular day if on that day the body is or will be an exempt entity within the meaning of the Income Tax Assessment Act 1997 .

[Board may repeal, replace or amend guidelines]

          (4A)  The Board may, at any time and whether or not within 90 days after the commencement of this section, by writing, repeal, replace or amend guidelines made under this section.

[Guidelines to be disallowable]

             (5)  An instrument formulating commercial government bodies guidelines, or repealing, replacing or amending such guidelines, is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901 .