{"id":"F2008B00432","name":"R & D Start Program (Additional Function of the IR&D Board) Direction No. 1 of 1996 (Amendment No. 1 of 1997)","slug":"r-d-start-program-additional-function-of-the-ir-d-board-direction-no-1-of-1996-amendment-no-1-of-199","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":73424,"registerId":"commonwealth-F2008B00432-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Industry Research and Development Act 19","sectionType":"part","heading":"Industry Research and Development Act 1986","content":"## Industry Research and Development Act 1986\n\nR&D Start Program (additional function of the IR&D Board) Direction No. 1 of 1996 (amendment No. 1 of 1997)\n\nI, JOHN COLINTON MOORE, Minister for Industry, Science and Tourism of the Commonwealth of Australia, acting under subsection 19 (1) of the Industry Research and Development Act 1986, make the following instrument of amendment.\n\nDated 20th day of August 1997\n\nJOHN MOORE\n\nMinister for Industry, Science and Tourism\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_","sortOrder":0},{"sectionNumber":"Citation","sectionType":"division","heading":"Citation","content":"### Citation\n\n1. This direction may be cited as R&D Start Program (additional function of the IR&D Board) Direction No. 1 of 1996.","sortOrder":1},{"sectionNumber":"Amendment","sectionType":"division","heading":"Amendment","content":"### Amendment\n\n2. The R&D Start Program (additional function of the IR&D Board) Direction No. 1 of 1996 is amended as set out in this instrument.","sortOrder":2},{"sectionNumber":"Commencement","sectionType":"division","heading":"Commencement","content":"### Commencement\n\n3. This direction commences on the day on which particulars of the direction are published in the Gazette.\n\n\\[NOTE: As to publication of the particulars, see subsection 19(2) of the Act.\\]","sortOrder":3},{"sectionNumber":"Clause 3 (Interpretation)","sectionType":"division","heading":"Clause 3 (Interpretation)","content":"### Clause 3 (Interpretation)\n\n4. Under \"R&D Start Program\", following paragraph (f) insert:\n\n\"(g) Investment in or provision of finance to managed funds to invest in or provide finance to early stage companies based on new technology;\"\n\nClause 4 (Additional function of the Board)\n\n5. Omit paragraph 4(1)(c), and insert:\n\n\"(c) to authorise payments by way of grant, investment, loan or other financial accommodation made by the Commonwealth;\"","sortOrder":4}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1871},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":true,"description":"The amendment materially expands the Program's scope from what appears to have been a grants-based scheme to encompass equity investments, loans, and other financial accommodation. It introduces a new indirect investment mechanism through managed funds, fundamentally shifting the model from direct government grants to a venture capital-style approach where the Commonwealth invests in early-stage technology companies via professional fund managers."},"complexity_factors":["Very short instrument containing only 5 clauses","Simple amendment structure requiring only one insertion and one substitution","No conditional logic, exceptions, or elaborate definitions","Minimal cross-referencing (only to Gazette publication and parent Act subsection)"],"plain_english_summary":"This direction changes how the **R&D Start Program** works by giving the government more flexible ways to fund new technology companies.\n\n**What it does:**\n* **Broadens financial tools:** The Industry Research and Development (IR&D) Board can now approve not just grants (money that doesn't need to be repaid), but also investments, loans, and other forms of financial support.\n* **Allows indirect investment:** The Program can now put money into **managed funds** (investment pools run by professional managers), which then use that money to invest in early-stage tech companies. Previously, the Program likely only gave money directly to individual companies.\n\n**Why it matters:**\nThis change lets the government back startups through professional venture capital-style funds rather than only handing out direct grants. It gives the Board more options to help turn new technology into commercial products."}},"importantCases":[],"_links":{"self":"/api/acts/r-d-start-program-additional-function-of-the-ir-d-board-direction-no-1-of-1996-amendment-no-1-of-199","history":"/api/acts/r-d-start-program-additional-function-of-the-ir-d-board-direction-no-1-of-1996-amendment-no-1-of-199/history","analysis":"/api/acts/r-d-start-program-additional-function-of-the-ir-d-board-direction-no-1-of-1996-amendment-no-1-of-199/analysis","conflicts":"/api/acts/r-d-start-program-additional-function-of-the-ir-d-board-direction-no-1-of-1996-amendment-no-1-of-199/conflicts","importantCases":"/api/acts/r-d-start-program-additional-function-of-the-ir-d-board-direction-no-1-of-1996-amendment-no-1-of-199/important-cases","documents":"/api/acts/r-d-start-program-additional-function-of-the-ir-d-board-direction-no-1-of-1996-amendment-no-1-of-199/documents"}}