SCIENCE AND TECHNOLOGY FUND ACT

[RSBC 1996] CHAPTER 414

Contents

1 — Special account

1 The account called the Science and Technology Fund is continued as a special account in the general fund of the consolidated revenue fund.

2 — Object

2 The object of the fund is to ensure continuity of funding for scientific and technological initiatives in British Columbia, with emphasis on applied research and development, in order to enhance resource industry technologies and other advanced technologies, taking into account that many such initiatives span more than a single fiscal year.

3 — Funding

3 The fund consists of

(a) money appropriated by the Legislature, and

(b) money received by the government as a result of any activity funded under this Act, including any money received under an agreement or arrangement made respecting that activity.

4 — Expenditure

4 On the written authorization of the minister, money may be paid out of the fund for any of the following purposes:

(a) to provide financial assistance for scientific and technological research and development;

(b) to promote public awareness of science and technology;

(c) to ensure the availability of the trained personnel and the facilities that are necessary to provide an infrastructure conducive to the conduct of scientific and technological research;

(d) to provide funding for programs to encourage the growth of advanced technology in British Columbia;

(e) to provide funding for major projects leading to greater economic diversification in British Columbia and increased industrial competitiveness.