Industry Research and Development Amendment (Innovation and Science Australia) Act 2016 (63 of 2016)

Schedule 1   Amendments

Part 1   Main amendments

Industry Research and Development Act 1986

2   Section 3

Repeal the section, substitute:

3 Object of Act

The object of this Act is to position Australia as a leading innovation nation by:

(a) facilitating the provision of independent strategic advice about investment in industry, innovation, science and research; and

(b) supporting and encouraging collaboration in the development and delivery of programs relating to industry, innovation, science and research; and

(c) authorising spending on programs relating to industry, innovation, science and research; and

(d) promoting the development, and improving the efficiency and international competitiveness, of Australian industry by encouraging R&D activities, innovation and science activities and venture capital activities.