Medical Research Future Fund Act 2015 and related documentation

The Medical Research and Future Fund Act 2015 [External Site] (MRFF Act), which received Royal Assent on 26 August 2015, established the Medical Research Future Fund (the Fund) that will be used to financially support medical research and innovation.

The MRFF Act establishes the framework for credits to and payments from the Fund, and the responsibilities of the Treasurer, the Minister for Finance and the Minister for Health. The Treasurer and the Minister for Finance are responsible for making credits to the Fund. The Minister for Finance, on advice from the Minister for Health, is responsible for debits from the Fund.  The Treasurer is responsible for payments to States and Territories.

The MRFF Act requires the Treasurer and the Minister for Finance, as the responsible Ministers, to give the Future Fund Board written directions in relation to the investments of the Fund.

Last updated: 07 July 2017