60AResearch and development scheme

#### 60A Research and development scheme (1) The Minister must, by writing, formulate a scheme (the R&D scheme) for the issuing, in respect of ACIS Stage 2, of duty credits to MVPs in return for the MVPs undertaking type J investment. Matters that the scheme may provide for (2) Without limiting subsection (1), the scheme may provide for the following: (a) the kinds of research and development undertaken by MVPs that are allowed for the purposes of the scheme; (b) the amount of credits available to be issued under the scheme; (c) guidelines for working out the amount of unmodulated type J investment credit available to be issued to an MVP in respect of a quarter; (d) the amount of credits available for issuing under the scheme in respect of each year of the scheme; (e) conferring of powers on the Minister or Secretary to make decisions of an administrative character relating to the scheme. When must scheme be formulated? (3) The Minister must formulate the scheme by the end of the period of one calendar year beginning on the day on which the ACIS Administration Amendment Act 2003 receives the Royal Assent. Scheme a disallowable instrument (4) An instrument under this section is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901.