35Spending of matching payments—Fisheries Research and Development Corporation

35 Spending of matching payments—Fisheries Research and Development Corporation

(1) If the Fisheries Research and Development Corporation is paid an amount under subsection 26(1) or 27(1), then the amount may be spent by the body only on matters covered by this section. Research and development activities (2) For an amount paid under subsection 26(1), a matter is research and development activities for the fishing industry (except any declared fishery), where expenditure on those activities is: (a) for the benefit of the fishing industry (except any declared fishery); and (b) for the benefit of the Australian community generally; and (c) in accordance with the Corporation’s funding agreement and annual operational plan; and (d) in accordance with the rules (if any). (3) For an amount paid under subsection 27(1), a matter is research and development activities for the declared fishery, where expenditure on those activities is: (a) for the benefit of the declared fishery; (b) for the benefit of the Australian community generally; and (c) in accordance with the Corporation’s funding agreement and annual operational plan; and (d) in accordance with the rules (if any). Debt (4) A matter is making a payment of a debt (if any) mentioned in subsection 86(2), to the extent that the debt arose because of a purported payment under subsection 26(1) or 27(1) to the Corporation. General payments (5) For an amount paid under subsection 26(1), a matter is doing the following (except in relation to any declared fishery): (a) paying or discharging expenses, charges, obligations and liabilities incurred by the body in the performance of its functions or the exercise of its powers; (b) paying remuneration, allowances, fees or expenses payable under the Primary Industries Research and Development Act 1989. (6) For an amount paid under subsection 27(1), a matter is doing the following in relation to the declared fishery: (a) paying or discharging expenses, charges, obligations and liabilities incurred by the body in the performance of its functions or the exercise of its powers; (b) paying remuneration, allowances, fees or expenses payable under the Primary Industries Research and Development Act 1989. (7) Paragraph (5)(a) or (6)(a) does not apply to a matter covered by subsection 21(2), (4), (5) or (6). Matters prescribed by the rules (8) A matter is any matter that is prescribed by the rules for the purposes of this subsection in relation to the Corporation. The rules may provide that expenditure by the Corporation on the matter is subject to any conditions prescribed by the rules.