Document ID: chunk:federal_register_of_legislation:F2009L02265:body:0:p3
Version: federal_register_of_legislation:F2009L02265
Segment Type: other
Provision Reference: 
Character Range: 5493–8558

that has entered into a funding agreement with the Commonwealth under the IIFF program.

    "IIFF Guidelines" means the guidelines made under section 20 of the Industry Research and Development Act 1986 for the IIFF program.

    "IIFF program" means the Commonwealth's Innovation Investment Follow-on Fund program.

    "IIF program" means the Commonwealth's Innovation Investment Fund program.

    "licensed fund" means a fund whose manager has been granted a licence by the Commonwealth in respect of that fund under the IIF program (Rounds 1 or 2), the PSF program or the REEF program.

    "Minister" means the Minister for Innovation, Industry, Science and Research.

"portfolio investee companies" means, as the context requires:

          (a) in respect of an applicant, those eligible investee companies proposed by the applicant for follow-on funding under the IIFF program; or

          (b) in respect of an IIFF fund manager, those of the eligible investee companies referred to in paragraph (a) that have been approved for follow-on funding under the IIFF program.
    "prior Commonwealth investment" means funding provided by the Commonwealth or a Commonwealth company to either a licensed fund or an ICT Incubator under an eligible Commonwealth program prior to commencement of the IIFF program.

    "Program Delegate" means an employee of the Department who has been empowered by the Minister, or is otherwise duly authorised, to carry out the relevant function in respect of the IIFF program.

    "Program Guidelines" means the Program Guidelines that are given by the Minister to the Department to provide a framework for the operation and administration of the IIFF program.

    "PSF program" means the Commonwealth's Pre-Seed Fund program.

    "R&D activities" means systematic investigation or experimentation activities:

         (a) that involve innovation, technology transfer into Australia or technical risk;

    (b) that are carried out in Australia; and

         (c) the object of which is new knowledge (with or without a specific practical application) or new or improved materials, products, devices, processes or services.
    "recoverable expenses" are expenses incurred by an IIFF fund manager in that capacity that are of a kind approved by the Program Delegate for payment or reimbursement out of the proceeds of IIFF program funding and set out in a funding agreement.  Those expenses will not include any amount in the nature of a management fee for the IIFF fund manager.
    "REEF program" means the Commonwealth's Renewable Energy Equity Fund program.
    "repayable grant" means an amount of IIFF program funding provided to an approved applicant on terms that it is, together with interest, repayable to the Commonwealth at a fixed or determinable future time.
    "selection round" means the process of inviting applications for IIFF program funding selecting the successful applicants and awarding funding agreements.

     6                     A reference in this direction to a statute is a reference to