Tax Laws Amendment (2007 Measures No. 2) Act 2007 (78 of 2007)

Schedule 8   Venture capital

Part 2   Early stage venture capital limited partnerships

Venture Capital Act 2002

188   After section 15-15

Insert:

15-17 Annual reports for ESVCLPs

(1) A *general partner of a partnership registered under this Part as an *ESVCLP must, within 3 months after the end of each *financial year give the *Venture Capital Registration Board a written report on the implementation of the partnership’s *approved investment plan during the financial year that:

(a) includes descriptions of any investments the partnership made during the year and any disposals of investments during the year; and

(b) meets the requirements of any guidelines issued under subsection (2).

(2) The *Venture Capital Registration Board may, by legislative instrument, issue guidelines relating to reports under this section (including the publication of those reports).

(3) The *Venture Capital Registration Board must publish reports it receives under subsection (1).

(4) The *Venture Capital Registration Board may comply with its obligation under subsection (3) by including copies of those reports in its annual report under section 75 of the Pooled Development Funds Act 1992.