Pooled Development Funds Act 1992

PART 1 - PRELIMINARY  

SECTION 3   OBJECT OF THE ACT  

3(1)   [Patient equity capital]  

The object of this Act is to develop, and demonstrate the potential of, the market for providing patient equity capital (including venture capital) to small or medium-sized Australian enterprises that carry on eligible businesses.

3(2)   [Scheme for companies]  

To achieve this object, the Act establishes a scheme under which companies that provide that kind of capital can become pooled development funds ( PDFs ), which entitles them to more competitive tax treatment.