Commercial Ready Program Directions No. 1 of 2007
Criterion 5: Need for fundingCriterion 5: Need for funding
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Criterion 5: Need for funding
Merit may be indicated by the company through:
- the project budget is realistic; and
- Commercial Ready funding is required for the project to progress satisfactorily, for one or more of the following reasons:
- the company has insufficient resources to fund the entire project;
- a longer time frame for project delivery would erode competitive advantage;
- the technical risk of the project mitigates against it proceeding; and/or
- the applicant cannot adequately capture the benefits of the project that may justify government investment.
PART 3 – ASSESSMENT OF PROPOSALS FOR VARIATION TO THE AGREED PROJECT
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If a recipient has submitted a proposal to the Department for approval of changes to the project, including the addition of new activities, the discontinuance of activities, the substitution of new activities in the place of discontinued activities, a variation to funding, or a variation to the project’s timeframe, the Program Delegate may request that the Board assess the proposal.
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If the Board receives a request under clause 11, it must assess the proposal as soon as is practicable and provide the assessment to the Program Delegate.
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In undertaking an assessment of a proposal to change the project the Board will determine:
(a) the extent to which the changed project meets the Merit Criteria; and
(b) whether the change to the project would:
(i) significantly improve the outcomes of the project;
(ii) be consistent with the policy objectives set out in the Commercial Ready Program Guidelines; and
(iii) otherwise be appropriate in all the circumstances.
PART 4 – OTHER TECHNICAL ASSESSMENTS
- The Program Delegate shall request the Board to provide an assessment of technical matters associated with applications, activities and projects, or on any other matter relevant to or impacting on a merit criterion, including:
(a) technical matters relating to the eligibility of applications, activities or projects against the definitions contained in these Directions;
(b) the progress reported by a recipient against the technical milestones for a project or compliance with agreement conditions that are of a technical nature;
(c) matters pertaining to national benefits assessments;
(d) any other matter that pertains to technical merit or the technical assessment of compliance with the terms and conditions of the program or an agreement.