THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA

 

 

 

 

 

HOUSE OF REPRESENTATIVES

 

 

 

 

 

AUSTRALIAN RESEARCH COUNCIL AMENDMENT BILL (No.2) 2010

 

 

 

 

 

EXPLANATORY MEMORANDUM

 

 

 

 

 

 

 

 

 

 

(Circulated by authority of the Minister for Innovation, Industry, Science and Research, Senator the Honourable Kim Carr)

 

AUSTRALIAN RESEARCH COUNCIL AMENDMENT BILL (No.2) 2010

 

 

GENERAL OUTLINE

 

The purpose of the Australian Research Council Amendment Bill (No.2) 2010 (the Bill) is to apply indexation against existing schemes and add the last year of the forward budget estimates.

Specifically the Bill will alter three existing financial year funding figures for indexation and extend the forward estimate period to include the financial year starting on 1 July 2013, resulting in additional spending of $824.637 million over the four financial years.

Bills to amend the ARC Act to receive administered funding must occur each financial year to apply indexation to existing appropriation amounts and add the last year of the forward budget estimates. The proposed amendments only impact on administered special appropriation; they do not alter the substance of the Act or increase departmental funds.

 

FINANCIAL IMPACT STATEMENT

 

By adding an extra outyear to the forward estimates and updating indexation, the Bill will increase spending by approximately $824.637 million over four financial years.

 

NOTES ON CLAUSES

Clause 1 ­­- Short Title

This clause provides for the Bill, once enacted, to be cited as the Australian Research Council Amendment Act (No.2) 2010.

Clause 2 - Commencement

This clause specifies the commencement date for the Bill. This means that the proposed amendments set out in Schedule 1 will commence on the day the Bill, once enacted, receives the Royal Assent.

Clause 3 Schedules(s)

Clause 3 provides that the proposed amendments to any Act specified in Schedule 1 to the Bill, and any other items in a Schedule, are amended or repealed as set out in the applicable items in the Schedule concerned. Any item in a schedule to this Act has effect according to its terms.

SCHEDULE 1 - AMENDMENTS

Item 1 - At the end of Subsection 48(2)

The proposed amendment in Item 1 provides for a new paragraph (j) at the end of subsection 48(2).

The proposed amendment makes reference to a new financial year of financial information, commencing 1 July 2013.

Item 2 - Paragraph 49(k), (l), (m) and (n)

The proposed amendment in Item 2 provides for the repeal of current paragraphs 49(k), (l), and (m) of the Australian Research Council Act 2001.

In place of the repealed paragraphs 49(j), (k), and (l), new paragraphs 49(k), (l), (m) and (n) are substituted.