The Investment Funds Legislation Amendment Bill 2021 will:
- change the way the MRFF is invested,
- allow the annual disbursements from the MRFF to be set for a period of up to five years, and
- change the period for the MRFF Strategy and Priorities to six years and 3 years respectively (currently 5years and 2 years.)
In its submission to the The Senate Finance and Public Administration Legislation Committee Inquiry, Research Australia has welcomed the changes, which have the potential to increase the funds available from the MRFF to fund research and innovation and provide greater stability. Research Australia has urged the MRFF Act be amended to make it explicit that the capital value of the MRFF is to be maintained in the long term.
Research Australia’s submission is available here.