Document ID: chunk:federal_register_of_legislation:C2025C00140:clause:1_13:p2
Version: federal_register_of_legislation:C2025C00140
Segment Type: clause
Provision Reference: sch 1 cl 13 (pt 2/9)
Character Range: 227601–230606

Economic Accelerator

Subdivision 42‑A—Research commercialisation strategy and investment plan

42‑1  Research commercialisation strategy
 (1) The *AEA Advisory Board must make a written strategy, to be known as the research commercialisation strategy, to:
 (a) outline the vision, aims and objectives for translation and commercialisation of university research in areas of national priority; and
 (b) identify new and emerging technologies in areas of national priority; and
 (c) identify and propose ways of addressing regulatory, financial and cultural barriers to translating and commercialising university research in areas of national priority.
Note: For variation and revocation of a strategy, see subsection 33(3) of the Acts Interpretation Act 1901.
 (1A) The strategy must not be inconsistent with *Australia's greenhouse gas emissions reduction targets.
 (2) The first strategy must be made as soon as practicable after this section commences. A subsequent strategy must be made and in force as soon as the current strategy ceases to be in force.
 (3) A strategy is in force for 5 years.
 (4) The *AEA Advisory Board must give a copy of a strategy to the Minister as soon as practicable after making it.
 (5) The Minister must cause a copy of a strategy to be laid before each House of the Parliament.
 (6) A strategy made under subsection (1) is not a legislative instrument.

42‑5  Investment plan
 (1) The *AEA Advisory Board must, in relation to each year, formulate written policies for the *Australia's Economic Accelerator program, dealing with the following matters in relation to the year:
 (a) areas of national priority;
 (b) the total amount of funding available;
 (c) any other matters the AEA Advisory Board considers appropriate to deal with to ensure the program meets the program's objectives.
 (2) The *AEA Advisory Board must ensure that the policies are consistent with the research commercialisation strategy in force under section 42‑1.
 (3) A member of the *AEA Advisory Board, or a person performing functions or exercising powers under the *Australia's Economic Accelerator program, must not act inconsistently with policies formulated under subsection (1).

Subdivision 42‑B—Advisory Board

42‑10  Australia's Economic Accelerator Advisory Board
  The Australia's Economic Accelerator Advisory Board (AEA Advisory Board) is established.

42‑15  Functions of the AEA Advisory Board
  The *AEA Advisory Board has the following functions:
 (a) to advise the Minister in relation to translation and commercialisation of university research;
 (b) to advise the Minister in relation to the *Australia's Economic Accelerator program, including in relation to objectives, conditions of eligibility and conditions of grants;
 (c) to oversee the performance of functions by priority managers engaged under section 42‑75;
 (d) any other functions conferred on the *AEA Advisory Board by this Act or the Other Grants Guidelines;
 (e) to do anything incidental or conducive to the