Commonwealth Numbered Acts

Industrial Research and Development Incentives Amendment Act 1983 No. 121 of 1983 - SECT 9

9. Section 31 of the Principal Act is repealed and the following section is
inserted: Total amounts allocated and committed under this Division in respect
of a year

''31. (1) The Minister shall, as soon as practicable after each 1 July, by
notice in writing to the Chairman-

   (a)  specify the total amount allocated for project grants during the year
        commencing on that date; and

   (b)  if the year is a grant year, specify the total amount of the
        commitments the Board may incur during the year.

''(2) The Minister may, during any year commencing on 1 July, by notice in
writing to the Chairman-

   (a)  specify an amount as an additional amount allocated for project grants
        during the year; and

   (b)  if the year is a grant year, specify an amount as an additional amount
        of commitments the Board may incur during the year.

''(3) In entering into agreements under section 30, the Board shall ensure
that-

   (a)  the total amount of project grants payable during a year do not exceed
        the sum of the amounts specified under paragraphs (1) (a) and (2) (a)
        in respect of that year; and

   (b)  if the year is a grant year, the total amount of commitments it incurs
        in respect of the year does not exceed the sum of the amounts
        specified under paragraphs (1) (b) and (2) (b) in respect of that
        year.

''(4) In this section-

   (a)  a reference to the Chairman shall, if there is an acting Chairman, be
        read as a reference to the acting Chairman; and

   (b)  a reference to commitments, in relation to a year, shall be read as a
        reference to the amounts that will become payable at any time as a
        result of the Board entering into agreements under section 30 during
        that grant year.''.