1Commercialising Emerging Technologies (COMET) Program Directions No. 1 of 2006

Commonwealth of Australia

Industry Research and Development Act 1986

COMET Program Directions No 1 of 2006

I, Ian Elgin Macfarlane, Minister for Industry, Tourism and Resources, acting under subsections 18A(1),19(1) and 20(1) of the Industry Research and Development Act 1986, give the following Directions to the Industry Research and Development Board (‘the Board’). These Directions replace the previous Directions No. 1 of 2004. Policies and guidelines issued under the Directions No.1 of 2004 will remain in force until replaced following the commencement of these Directions and will continue to apply to COMET grant funding that was approved by the Program Delegate under the Directions No. 1 of 2004.

Dated 15/12/06 I. Macfarlane

Minister for Industry, Tourism and Resources

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PART 1 - PRELIMINARY

1. Name of Directions

These Directions are the Commercialising Emerging Technologies (COMET) Program Directions No 1 of 2006.

2. Commencement

These Directions will come into effect on and from the day on which both the following steps have been completed:

a) the Directions have been registered on the Federal Registrar of Legislative Instruments; and

b) the Directions have been published in the Gazette.

3. Object of these Directions

The object of this instrument is to give Directions to the Board in relation to:

a) an additional function of the Board, namely the provision of technical assessment and merit ranking of eligible applications under, the COMET Program; and

b) the policies and practices to be followed by the Board in the performance of the function.

4. Interpretation

a) In these Directions, unless the contrary intention applies:

agreement means an agreement between a recipient and the Commonwealth for grant funding under the program, as amended from time to time in accordance with the rules for the program;

applicant means an entity that makes an eligible application;

Assistance Plan means the tailored package of support for the recipient designed to increase the commercialisation of the recipient’s innovation;

Business Advisers are the private sector consultants to assist in the delivery of the COMET program. The role of the Business Adviser is to provide guidance with COMET applications, make assessment of applications, advise and assist recipients through the commercialisation process and undertake other activities against any operational plan agreed by the Department;