Medical Research Future Fund Act 2015

The Advisory Board must determine the priorities for providing financial assistance under this Act for medical research and medical innovation.

The Australian Medical Research and Innovation Priorities must be consistent with the Australian Medical Research and Innovation Strategy that is in force.

In determining the Australian Medical Research and Innovation Priorities, the Advisory Board must take into account the following:

the burden of disease on the Australian community;

how to deliver practical benefits from medical research and medical innovation to as many Australians as possible;

how to ensure that financial assistance provided under this Act provides the greatest value for all Australians;

how to ensure that financial assistance provided under this Act complements and enhances other financial assistance provided for medical research and medical innovation;

any other relevant matter.

The Advisory Board is also required to provide a consultation process before determining the Priorities—see section 32EA.

Australian Medical Research and Innovation Priorities must be determined as soon as practicable after the first Australian Medical Research and Innovation Strategy is registered under the Legislation Act 2003. Subsequent Australian Medical Research and Innovation Priorities must be determined and in force as soon as the current Priorities cease to be in force.

Australian Medical Research and Innovation Priorities are in force for 2 years.

Australian Medical Research and Innovation Priorities are a legislative instrument, but section 42 (disallowance) of the Legislation Act 2003 does not apply to the priorities.

In addition to the requirement under the Legislation Act 2003 for Australian Medical Research and Innovation Priorities to be registered, the Advisory Board must ensure that the Priorities that are in force are published on the internet.

Subsection 33(3) of the Acts Interpretation Act 1901 does not apply in relation to the power under this section to determine Australian Medical Research and Innovation Priorities.