Commonwealth legislation

Innovation Investment Fund program (Additional Function of the IR&D Board) Direction No. 1 of 1998

In ForceCTH

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

3/10 complexity

This Direction (s3) gives the Industry Research and Development Board an additional statutory function: to administer the Innovation Investment Fund (IIF) program. Mechanically the Board may invest in, or provide finance to, managed funds that then invest in or provide finance to companies described as “eligible investee companies” in the IIF Program, Policies and Practices Direction No.1 of 1997. It changes who decides on public investment flows, affects managed funds and eligible companies, and creates operational and compliance tasks for the Board.

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Current sections

Direct links to the current provisions in Innovation Investment Fund program (Additional Function of the IR&D Board) Direction No. 1 of 1998.

Innovation Investment Fund program (Additional Function of the IR&D Board) Direction No. 1 of 1998

Commonwealth of Australia

Industry Research and Development Act 1986

Innovation Investment Fund program (Additional Function of the IR&D Board) Direction No. 1 of 1998

I, JOHN COLINTON MOORE, Minister for Industry, Science and Tourism, acting under subsection 19 (1) of the Industry Research and Development Act 1986, give the following direction to the Industry Research and Development Board.

Dated Tenth August 1998.

john moore

Minister for Industry, Science and Tourism

Name of Direction

This Direction is the Innovation Investment Fund program (Additional Function of the IR&D Board) Direction No. 1 of 1998.

Commencement

This Direction commences on the day on which the Direction is published in the Gazette.

Direction

(1) An additional function of the Board is to administer the Innovation Investment Fund program.

(2) The function includes investment in, or provision of finance to, managed funds to invest in, or provide finance to, companies that are eligible investee companies as defined in the IIF Program, Policies and Practices Direction No. 1 of 1997, as amended from time to time.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Innovation Investment Fund program (Additional Function of the IR&D Board) Direction No. 1 of 1998

Commonwealth of Australia

Industry Research and Development Act 1986

Innovation Investment Fund program (Additional Function of the IR&D Board) Direction No. 1 of 1998

Dated Tenth August 1998.

john moore

Minister for Industry, Science and Tourism

Name of Direction

This Direction is the Innovation Investment Fund program (Additional Function of the IR&D Board) Direction No. 1 of 1998.

Commencement

This Direction commences on the day on which the Direction is published in the Gazette.

Direction

(1) An additional function of the Board is to administer the Innovation Investment Fund program.