Commonwealth of Australia Explanatory Memoranda Commonwealth of Australia Explanatory Memoranda[Index] [Search] [Download] [Bill] [Help]
2019-2020-2021
THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA
THE SENATE
INDUSTRY RESEARCH AND DEVELOPMENT AMENDMENT (INDUSTRY
INNOVATION AND SCIENCE AUSTRALIA) BILL 2021
EXPLANATORY MEMORANDUM
(Circulated by authority of the Minister for Industry, Science and Technology, the Hon Karen
Andrews MP)
TABLE OF CONTENTS
GLOSSARY ........................................................................................................................................................ 1
OUTLINE .......................................................................................................................................................... 1
FINANCIAL IMPACT STATEMENT ...................................................................................................................... 1
CONSULTATION ............................................................................................................................................... 1
STATEMENT OF COMPATIBILITY WITH HUMAN RIGHTS................................................................................... 2
NOTES ON CLAUSES ......................................................................................................................................... 3
i
GLOSSARY
Abbreviation Definition
Bill Industry Research and Development
Amendment (Industry Innovation and
Science Australia) Bill 2021
ISA Innovation and Science Australia
IISA Industry Innovation and Science Australia
IR&D Act Industry Research and Development Act
1986
ii
INDUSTRY RESEARCH AND DEVELOPMENT AMENDMENT (INDUSTRY
INNOVATION AND SCIENCE AUSTRALIA) BILL 2021
OUTLINE
The purpose of the Industry Research and Development Amendment (Industry Innovation
and Science Australia) Bill 2021 (the Bill) is to amend the Industry Research and
Development Act 1986 (IR&D Act) to rename the independent statutory board known as
'Innovation and Science Australia' (ISA) to 'Industry Innovation and Science Australia'
(IISA), and to make consequential amendments to other Commonwealth legislation as a
consequence of the name change.
The amendment to the legislated name of ISA reflects the updated focus of the body on
Australian industry and industry's role in innovation and science. The change of name is part
of broader policy reform as per the Government's request to the Minister for Industry,
Science and Technology to reshape ISA to focus more on Australian industry. Other
measures in this policy reform include the appointment of new Board members, a new
Statement of Expectations, and the provision of advice to Government on the recently
announced Modern Manufacturing Strategy.
FINANCIAL IMPACT STATEMENT
The proposed Bill will have minimal to no financial impact for the Commonwealth. Any
minor administrative costs will be absorbed by the Department of Industry, Science, Energy
and Resources.
CONSULTATION
The Department of Finance and the Department of the Treasury were consulted in the
preparation of the Bill and this Explanatory Memorandum.
1
STATEMENT OF COMPATIBILITY WITH HUMAN RIGHTS
Prepared in accordance with Part 3 of the Human Rights (Parliamentary Scrutiny) Act 2011.
Industry Research and Development Amendment (Industry Innovation and Science Australia)
Bill 2021 (the Bill)
This Bill is compatible with the human rights and freedoms recognised or declared in the
international instruments listed in section 3 of the Human Rights (Parliamentary Scrutiny)
Act 2011.
Overview of the Bill
The purpose of this Bill is to amend the Industry Research and Development Act 1986 (IR&D
Act) to rename the independent statutory board known as 'Innovation and Science Australia'
(ISA) to 'Industry Innovation and Science Australia' (IISA), and to make consequential
amendments to other Commonwealth legislation as a consequence of the name change.
Changing ISA's name reflects a request from the Government that the Minister for Industry,
Science and Technology reshape ISA to focus more on Australian industry through new
members, a new mandate and the provision of advice to Government on the recently
announced Modern Manufacturing Strategy.
The effect of the Bill will be to legally amend the name of ISA to IISA in the IR&D Act and
make consequential amendments.
Human rights implications
This Bill does not engage any of the applicable rights or freedoms.
Conclusion
This Bill is compatible with human rights as it does not raise any human rights issues.
Minister for Industry, Science and Technology,
The Hon Karen Andrews MP
2
INDUSTRY RESEARCH AND DEVELOPMENT AMENDMENT (INDUSTRY
INNOVATION AND SCIENCE AUSTRALIA) BILL 2021
NOTES ON CLAUSES
Clause 1: Short title
1. This is a formal provision specifying that the short title is to be cited as the Industry
Research and Development Amendment (Industry Innovation and Science Australia)
Act 2021.
Clause 2: Commencement
2. The table in this clause sets out the commencement date of the Bill's provisions. The
whole of the Bill's provisions will commence the day after the Bill receives Royal
Assent.
Clause 3: Schedules
3. This clause is a machinery clause that gives effect to the provisions in the Schedules
to the Bill.
Schedule 1 - Amendments
Part 1 - Main amendments
Industry Research and Development Act 1986
Item 1: Subsection 4(1) (definition of Board)
4. This item amends the definition of "Board" in subsection 4(1) of the IR&D Act.
Item 2: Section 6
5. This item repeals section 6 of the IR&D Act and inserts a new section which specifies
that Innovation and Science Australia continues in existence with the new name
Industry Innovation and Science Australia. The new section operates in conjunction
with section 25B(1) of the Acts Interpretation Act 1901 and includes a note to that
effect.
Part 2 - Consequential amendments
Income Tax Assessment Act 1997
Item 3: The whole of the Act
6. This item amends the Tax Income Assessment Act 1997 by replacing references to
Innovation and Science Australia throughout that Act with references to Industry
Innovation and Science Australia.
3
Pooled Development Funds Act 1992
Item 4: Subsection 4(1) (definition of Board)
7. This item amends the definition of "Board" in the Pooled Development Funds Act
1992 by replacing the reference to Innovation and Science Australia with references
to Industry Innovation and Science Australia.
Taxation Administration Act 1953
Item 5: The whole of the Act
8. This item amends the Taxation Administration Act 1953 by replacing references to
Innovation and Science Australia throughout that Act with references to Industry
Innovation and Science Australia.
Venture Capital Act 2002
Item 6: The whole of the Act
This item amends the Venture Capital Act 2002 by replacing references to Innovation and
Science Australia throughout that Act with references to Industry Innovation and Science
Australia.
4