20 MARCH

NEW ZEALAND GAZETTE

The foundation will have full discretion to manage the allocation of funds for the scheme in a way that achieves the outcome and objective of the scheme.

The Mechanism

The foundation will use the scheme to fund up to 33.3% of the costs that a firm will incur in undertaking research and development for a project that meets the scheme’s objective. The maximum amount the scheme will contribute to one project is $100,000.00 (G.S.T. inclusive).

Those costs can include the cost to the firm of contracting research and development capability.

Funding to be Allocated

Funds available for the scheme will be published each year in the Estimates of Appropriations.

The foundation will have the discretion to allocate up to 10% of funding for this scheme:

• to the Techlink Scheme, the Technology for Industry Fellowship Scheme or the Technology for Business Growth Scheme; or
• between the Techlink Scheme, the Technology for Industry Fellowship Scheme or the Technology for Business Growth Scheme.

This will occur if all schemes involved in the allocation are appropriated within the same non-departmental output class under the Public Finance Act 1989.

The Minister of Research, Science and Technology’s written approval is required before the foundation can transfer more than 10% of the scheme to any other scheme issued by the Minister of Research, Science and Technology under section 8A of the Foundation for Research, Science, and Technology Act 1990.

Period of Operation

The scheme will commence operation on 1 April 2003 and is estimated to continue for a period of five years.

Monitoring Agency

Monitoring of the scheme, including implementation of this notice by the Foundation for Research, Science and Technology and the extent to which the scheme achieves its stated objective, will be carried out by the Ministry of Research, Science and Technology.

Dated at Wellington this 11th day of March 2003.

PETE HODGSON, Minister of Research, Science and Technology.

Notes

1The definition that is applied to research and development will be determined by the Minister of Research, Science and Technology based on the recommendations of the Ministry of Research, Science and Technology and the foundation.

2A firm is defined as a body corporate or other entity that has a legal personality or existence distinct from those of its members (including sole traders) and is resident in New Zealand. For the purposes of this scheme, a firm excludes sole traders, partnerships, any Crown-owned body corporate or other entity (including but not limited to those that are governed by the Education Act 1989, the Local Government Act 1974 or the Crown Research Institutes Act 1992).

3Technologically aware firms are those firms that, in the foundation’s view, have developed a basic set of competencies in the area of technological innovation and recognise that increased investment in research and development can lead to improved business performance.

4A small and medium sized firm is defined as a firm that has an annual turnover of up to and including $50 million.

Social Development

Social Security Act 1964

Training Incentive Allowance Amendment 2003

Pursuant to section 124 (1) (d) of the Social Security Act 1964, the Minister of Social Services and Employment establishes and approves the following amendment to the Training Incentive Allowance Programme (as established and approved on 30 November 1998).

Dated at Wellington this 3rd day of March 2003.

STEVE MAHAREY, Minister of Social Services and Employment.

Amendment

1. Title—(1) This amendment is the Training Incentive Allowance Amendment 2003.

(2) In this amendment, the Training Incentive Allowance Programme is called “the programme”.

2. Commencement—This amendment comes into effect on 10 March 2003.

3. Restrictions—The programme is amended by revoking clause 5.2.1, and substituting the following clause:

“5.2.1. If the applicant is a domestic purposes beneficiary or in receipt of a widow’s benefit, an allowance may be granted only if the chief executive considers the course the applicant intends to undertake is consistent with the employment goals set out in the applicant’s personal development and employment plan.”

Explanatory Note

This note is not part of the amendment, but is intended to explain its general effect.

This amendment to the Training Incentive Allowance Programme makes changes consequential on removal of work-test obligations for domestic purposes beneficiaries and widow’s beneficiaries, effective 10 March 2003.

Treasury

Public Finance Act 1989

Notice of Guarantee Given Pursuant to Section 59 (1) of the Public Finance Act 1989

Pursuant to section 59 (2) of the Public Finance Act 1989, the Minister of Finance hereby gives notice that:

On 8 January 2003, I, The Honourable Dr Michael John Cullen, Minister of Finance, on behalf of the Crown, gave a guarantee to Tainui Corporation Limited in relation to obligations arising from the lease of Tainui land at Huntly Power Station, Meremere, and related land in order to facilitate their transfer from ECNZ to Genesis Power.

Dated at Wellington this 11th day of March 2003.

DR MICHAEL CULLEN, Minister of Finance.