25Annual operational plans

#### 25 Annual operational plans (1) An R&D Corporation must, for each financial year during which an R&D plan is in force, prepare, in written form, an annual operational plan that is expressed to relate to that financial year. (2) The annual operational plan is to: (a) specify the broad groupings of research and development activities and marketing activities that the R&D Corporation proposes to fund, wholly or partly, during the financial year; and (b) describe how and to what extent funding those activities will: (i) give effect to the R&D plan in force during that financial year; and (ii) in particular, pursue the strategies outlined in the R&D plan and help to achieve the objectives described in the R&D plan; and (c) provide an estimate of: (i) the total amounts likely to be spent by the Corporation in respect of each broad grouping of research and development activities the Corporation proposes to fund during the financial year; and (ii) the total of all other amounts likely to be spent by the Corporation during the financial year; and (iii) the total of the amounts referred to in subparagraphs (i) and (ii); and (iv) the total of the amounts that are likely to be paid to the Corporation during the financial year (other than the amounts paid under the Primary Industries Levies and Charges Disbursement Act 2024). (3) A reference in this section to research and development activities or marketing activities that an R&D Corporation proposes to fund includes a reference to research and development activities or marketing activities that the Corporation is prepared, subject to its examination of specific proposals, to fund.