Document ID: chunk:federal_register_of_legislation:C2004A01172:clause:2_12
Version: federal_register_of_legislation:C2004A01172
Segment Type: clause
Provision Reference: sch 2 cl 12
Character Range: 3677–5136

12  Transitional provision for funding approvals etc.

(1) This item applies if, before the commencement of this Schedule, the Minister had approved under subsection 51(1) of the Australian Research Council Act 2001 a proposal as deserving financial assistance in respect of one or more of the following years:
 (a) the calendar year 2004;
 (b) the calendar year 2005;
 (c) the calendar year 2006.

(2) Division 1 of Part 7 of that Act as in force after that commencement has effect as if:
 (a) the Minister had approved the proposal as deserving financial assistance in respect of each year (the new year) to which that Division (as in force after that commencement) applies that falls partly or wholly within a calendar year (the old year) in respect of which the Minister had approved the proposal before that commencement; and
 (b) the approved amount for the funding approval in respect of each of the new years for the proposal equalled the sum of 50% of the approved amount for the funding approval in respect of each old year within which part or all of the new year falls; and
 (c) the funding approval reflected the effect of paragraphs (a) and (b).

(3) Subitem (2) does not prevent variation of the funding approval or approved amount under that Division after the commencement of this Schedule.

(4) Subitem (2) does not affect the operation of that Division in relation to a year to which that Division applies that ends before 1 January 2004.