28Annual report

#### 28 Annual report The annual report prepared by the directors of an R&D Corporation and given to the Minister under section 46 of the Public Governance, Performance and Accountability Act 2013 for a period must include: (a) particulars of: (i) the research and development activities that it co‑ordinated or funded, wholly or partly, during the period; and (ia) the marketing activities that it coordinated or funded, wholly or partly, during the period; and (ii) the amount that it spent during the period in relation to each of those activities; and (iib) the impact of those activities on each designated primary industry sector in relation to the Corporation; and (iii) revisions of its R&D plan approved by the Minister during the period; and (iv) the entering into of agreements under sections 13 and 14 during the period and its activities during the period in relation to agreements entered into under that section during or prior to the period; and (v) its activities during the period in relation to applying for patents for inventions, commercially exploiting patented inventions and granting licences under patented inventions; and (vi) the activities of any companies in which the Corporation has an interest; and (vii) any activities relating to the formation of a company; and (viii) significant acquisitions and dispositions of real property by it during the period; and (b) an assessment of the extent to which its operations during the period have: (i) achieved its objectives as stated in its R&D plan; and (ii) implemented the annual operational plan applicable to the period; and (c) an assessment of the extent to which the Corporation has, during the period, contributed to the attainment of the objects of this Act as set out in section 3; and (d) in respect of the grain industry or such other primary industry or class of primary industries as is prescribed in the regulations, particulars of sources and expenditure of funds, including: (i) commodity, cross commodity and regional classifications; and (ii) funds derived from transfer of assets, debts, liabilities and obligations under section 144. > Note: For subparagraph (a)(ia), an R&D Corporation is permitted to carry out marketing activities as mentioned in paragraphs 11(ea) and (eb).