In March 2005 the Prime Minister’s Science, Engineering and Innovation Council received a comprehensive report on nanotechnology. Following the acceptance of the PMSEIC Report, the Australian Department of Industry Tourism and Resources established a National Nanotechnology Strategy Taskforce to develop options for a National Nanotechnology Strategy. In the present study, the National Nanotechnology Strategy Taskforce commissioned the National Academies Forum (through the Australian Academy of Technological Sciences and Engineering) to provide their expert opinions on the environmental, social, legal and ethical issues associated with nanotechnologies and to scope a strategic framework for analysis of real and perceived risks.