The Royal Commission on the Bonuses for Manufactures Bill was established by Letters Patent issued on 15 January 1903 (No 1, page 151 Register of Patents). The Rt Hon Charles Cameron Kingston PC, KC, Minister for Trade and Customs was appointed Chairman of the Commission.  

The following Commissioners were appointed under Letters Patent issued on 15 January 1903:

Rt Hon Sir Edward Nicholas Coventry Braddon PC, KCMG, Member of the
 House of Representatives;
Hon Samuel Winter Cooke, Member of the House of Representatives; Joseph Cook Esquire, Member of the House of Representatives;
George Warburton Fuller Esquire, Member of the House of
 Representatives; 
Littleon Ernest Groom, Esquire, Member of the House of
 Representatives; 
William Morris Hughes Esquire, Member of the House of
 Representatives; 
John Waters Kirwan Esquire, Member of the House of Representatives; Samuel Mauger Esquire, Member of the House of Representatives; 
David Watkins Esquire, Member of the House of Representatives; 
John Christian Watson, Member of the House of Representatives;  

and under Letters Patent issued on 23 February 1903:

Hon James Whiteside McCay, Member of the House of Representatives.  

The Royal Commission continued the findings of the Select Committee appointed to gather information with respect to iron deposits of commercial value in New South Wales and their proximity to available fluxes and coal, and to gather information as to how deposits were held, whether by the Crown or under lease to the individual.
 
The Royal Commission was appointed "to inquire into the provisions of a Bill for an Act relating to bonuses for the encouragement of manufactures which was introduced into the House of Representatives, and to continue the inquiry commenced by the Select Committee of the House of Representatives in relation to the said Bill."
 
The Select Committee of the House of Representatives had held six meetings (4 in Melbourne and 2 in Sydney) and examined 5 witnesses. The evidence taken by the Select Committee accompanied the report of the Royal Commission and was considered together with the evidence taken by the Commissioners.
 
In the course of the inquiry by the Royal Commission, 35 witnesses were examined and meetings held as follows: Melbourne (14); Sydney (5); Brisbane (2); Newcastle (2); and Lithgow (2).
 
The evidence satisfied the Commissioners that all materials
necessary for the manufacture of iron from its ores were to be found in Australia in large quantities and of good quality and under conditions suitable for the successful establishment of the industry under proper encouragement.
 
The Commissioners considered the successful establishment of the manufacture of iron and steel an important addition to Australian industries, giving a boost to capital and labour, with the local supply of material being of great advantage to local manufacturers.
 
Encouragement was particularly required in the initial stage of the industry to secure the requisite capital. The novelty of the enterprise and powerful rival vested interests would induce hesitation in investment on the part of capitalists. Here the Commissioners differed, half the Commissioners suggested that the necessary encouragement should come in the form of bonuses on the manufacture of iron and steel from Australian ores quoting the success of the Canadian experience. The other half of the Commissioners maintained that there would be no guarantee that the bonuses proposed would permanently establish the industry, though probably the inducements offered might be instrumental in forming speculative companies, they did not consider the Canadian experience in this field successful.  
The Report of the Royal Commission was ordered to be printed on 2 March 1904 (Parliamentary Papers).
 
The Manufactures Encouragement Bill was passed in 1908.
 
 
Sources

Parliamentary Papers 1904, pp 1407-1620
Borchardt, Checklist of Royal Commissions, p 3
Historical agency address
Melbourne
Legislation administered
Commonwealth of Australia Act, No.12 of 1902, Royal Commissions Act 1902
 Letters Patent 15 January 1903 (Register of Patents 16 Jan 1903 No.1 p151)
 Letters Patent 23 February 1903 (Register of Patents 23 Feb 1903 No.1 p152)