Document ID: chunk:federal_register_of_legislation:F2009B00223:body:0:p3
Version: federal_register_of_legislation:F2009B00223
Segment Type: other
Provision Reference: 
Character Range: 5686–8735

Australia;

       (d)    to assist in the development of biotechnology innovation to attract private sector investment; and

        (e)  to increase the level of commercialisation of biotechnology in Australia to provide national benefit.

PART 3 — PROCEDURE FOR CONSIDERING APPLICATIONS

Procedure

       8. (1) The Board will grant financial assistance, subject to clause 15, to applicants whose applications are accepted by the Board and assessed on a merit basis under Part 5.

(2) The Board must consider applications made in relation to a particular funding round as soon as practicable after the closing date for applications determined by the Board for that funding round.

       (3) Funding rounds must be held quarterly unless the Board otherwise determines.

PART 4 — ELIGIBILITY FOR FINANCIAL ASSISTANCE

Eligible applications

       9. (1) Subject to subclauses (2) to (4), the Board must accept an application if the Board is satisfied that:

           (a) the applicant meets the requirements of clause 10; and

           (b) the project to which the application relates meets the requirements of clause 11.
       (2) The Board may refuse an application that the Board reasonably considers is the same, or substantially the same, as another application:

           (a) that was not accepted by the Board; or

           (b) that was accepted by the Board, but related to a project for which the financial assistance (including financial assistance under the Biotechnology Innovation Fund as conducted under the revoked directions) was not granted.

       (3) The Board may refuse an application if the applicant has already made a number of applications:

           (a) that exceeds 1; and

           (b)       in relation to which the Board has not decided whether to grant financial assistance.

       (4) The Board may refuse a particular application if the Board considers that:

           (a)        the applicant is registered under section 39P or the Act;

           (b)        the applicant, if it is a body corporate, is related to a company that is registered under section 39P of the Act;

           (c)        the application relates to a product, service or process that involves intellectual property developed under a project in relation to which a company is registered under section 39P of the Act; or

           (d)        the application otherwise relates to or is connected with a project in relation to which a company is registered under section 39P of the Act.

Applicant requirements

    10. (1) An applicant must:

           (a) be a company or a proposed company that will be incorporated before financial assistance is granted;

           (b) have rights to intellectual property to enable the applicant to carry out the project; and

           (c) disclose to the Board any government funding that the applicant has received or will receive in relation to the project.

       (2) The Board must not approve an application for financial assistance for part of the