33B
In forceState and Territory fisheries R&D money
Part 2Research and Development Corporations
Division 5Finance
33B State and Territory fisheries R&D money
(1)
This section applies if:
(a)
a State or Territory makes a payment to an R&D Corporation in respect of research and development in respect of the fishing industry; or
(b)
the Commonwealth makes a payment to an R&D Corporation of money paid by a State or Territory to the Commonwealth in respect of research and development in respect of the fishing industry.
(2)
The R&D Corporation must, within 5 years of receiving the payment, spend an equal amount on research and development activities of relevance to the State or Territory.
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