Senator PATTERSON (1:38 PM) —The provisions of the Industry Research and Development Amendment Bill 1998 amend the Industry Research and Development Act 1986 in a manner identified in the government's industry statement Investing for Growth of December 1997. As has been outlined, they are designed mainly to streamline the administration of the research and development tax concession scheme. It also contains a range of other measures aimed at improving the administration of the R&D tax concession scheme consistent with improving its integrity and efficacy and some measures to improve the effectiveness of IR&D Board activities. I commend the bill to the Senate and thank honourable senators for their contributions.

Question resolved in the affirmative.

Bill read a second time, and passed through its remaining stages without amendment or debate.