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Commonwealth act
What is this? This is one of Australia's oldest pieces of scientific funding legislation. It created a permanent fund — the Science and Industry Endowment Fund — to support scientific research and train the next generation of researchers in Australia.
How does it work? The Australian Government initially tipped in £100,000 (one hundred thousand pounds) as seed money back in 1926. That money is invested in government securities or other approved investments, and the income (interest/returns) generated is used to provide grants and assistance to:
The fund can also grow through donations and bequests (gifts left in someone's will), which are handled according to the donor's wishes.
Who's in charge? The Chief Executive of CSIRO (Australia's national science agency) acts as the trustee (the person legally responsible for managing the fund).
Who does this affect?
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Direct links to the current provisions in Science and Industry Endowment Act 1926.
Zoe has indexed the source text for search and analysis. Use the official register for the original document and download formats.
View on official registerSourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.
Accountability The fund's accounts are regularly audited by the Auditor-General (Australia's independent financial watchdog), and audit reports must be tabled in both houses of Parliament — so there is public oversight.
Why does it matter? While modest by modern standards, this Act represents a long-standing legal commitment to funding Australian science. It remains in force today, meaning the fund and its obligations are still legally active.