Summary

Introduced with the Medical Research Future Fund (Consequential Amendments) Bill 2015 to establish the Medical Research Future Fund (MRFF) to support medical research and medical innovation from 1 August 2015, the bill provides for: initial funding of $1 billion from the uncommitted balance of the Health and Hospitals Fund; the establishment of the Australian Medical Research Advisory Board to develop the Australian Medical Research and Innovation Strategy and the Australian Medical Research and Innovation Priorities; and for the MRFF to be managed by the Future Fund Board of Guardians.