Commonwealth Consolidated Acts

PRIMARY INDUSTRIES RESEARCH AND DEVELOPMENT ACT 1989 - SECT 33B

  (1)   This section applies if:

  (a)   a State or Territory makes a payment to an R&D Corporation in respect of research and development in respect of the fishing industry; or

  (b)   the Commonwealth makes a payment to an R&D Corporation of money paid by a State or Territory to the Commonwealth in respect of research and development in respect of the fishing industry.

  (2)   The R&D Corporation must, within 5 years of receiving the payment, spend an equal amount on R&D activities of relevance to the State or Territory.