Industrial Research and Development Grants Regulations (Amendment)

Overview

The Industrial Research and Development Grants Act 1967-1972 was enacted to provide financial assistance to businesses and entities in Australia for the purpose of encouraging and facilitating industrial research and development activities. This Act was intended to address the need for increased investment in research and development in the Australian industry to boost innovation, competitiveness, and economic growth. The Act was enacted by the Parliament of Australia with the objective of supporting and promoting research and development activities that contribute to the advancement of industrial technology and the improvement of industrial processes. The accompanying regulation, Statutory Rules 1973 No. 61, was made under the authority of the Act to provide further detail on the administration and application process for grants. This regulation specifically amends the Industrial Research and Development Grants Regulations to modify the application submission requirements for the grant year ending on 30 June 1972.

Scope and Application

The Industrial Research and Development Grants Regulations, made under the Industrial Research and Development Grants Act 1967-1972, apply to entities and individuals seeking grants for industrial research and development within Australia. These regulations govern the process of applying for grants, stipulating the specific methods and timelines for submitting applications. They primarily concern businesses and organisations engaged in research and development activities that aim to foster innovation and technological advancement in various industries. The regulations are applicable nationally, impacting all entities across the Commonwealth of Australia. Notably, these regulations include provisions that allow for modifications to the application process, as evidenced by the amendment concerning the submission of applications for the grant year ending on June 30, 1972. This amendment mandates that applications be either posted under pre-paid postage to the Board or delivered to its office by November 30, 1972, illustrating how the application scope and procedural requirements can be adjusted through subordinate instruments to meet specific needs or circumstances.

Key Provisions

The primary operative sections of the Industrial Research and Development Grants Regulations 1973, as amended, concern the submission of applications for grants under the Industrial Research and Development Grants Act 1967-1972. Specifically, Regulation 2 has been modified to include a new subparagraph (bb) (1) that outlines the requirements for applications submitted for the grant year ending 30 June 1972. According to this amendment, applicants must either post their applications to the Board in a prepaid envelope or deliver them in person to the Board’s office by 30 November 1972. The amended regulations impose specific obligations on applicants seeking grants. Firstly, they must ensure that their applications are submitted by one of the two specified methods: either posting the application in a prepaid envelope addressed to the Board or delivering it in person to the Board’s office. This requirement aims to streamline the submission process and ensure that applications are received by the Board within the prescribed timeframe. The regulation also mandates that applications be submitted by 30 November 1972, providing a clear deadline for compliance. Failure to adhere to the specified submission requirements outlined in the amended regulations may result in certain consequences. While the precise civil or criminal penalties for non-compliance are not explicitly stated within the text, it is reasonable to infer that not meeting the application submission deadlines could lead to disqualification from the grant program for that particular grant year. This outcome underscores the importance of strict adherence to the stipulated procedures to avoid any potential adverse effects on grant eligibility.