Venture Capital Act 2002
PART 3
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REGISTRATION OF ELIGIBLE VENTURE CAPITAL INVESTORS
Division 21
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Registration of eligible venture capital investors
Operative provisions
SECTION 21-5
REGISTRATION AS ELIGIBLE VENTURE CAPITAL INVESTORS
21-5(1)
An *entity may apply to *Industry Innovation and Science Australia, in the *form approved by Industry Innovation and Science Australia, for registration under this Part as an *eligible venture capital investor.
21-5(2)
An application must be given to *Industry Innovation and Science Australia within 30 days after the applicant enters into the contract to acquire its first *eligible venture capital investment after the commencement of this Act.
21-5(3)
An application must be in writing, and must include the following information: (a) the applicant ' s current residency status; (b) details of the facts that qualify the applicant as a *tax-exempt foreign resident; (c) the address of the applicant ' s registered office; (d) the name and address of the first *company or unit trust in which the applicant has invested or proposes to invest and the industry in which the company or unit trust operates; (e) the amount of the investment and the date on which it was or is to be made; (f) details of any other investments that the applicant holds in the company or unit trust that are not *eligible venture capital investments.
21-5(4)
*Industry Innovation and Science Australia must register the applicant under this Part if Industry Innovation and Science Australia is satisfied that the information has been provided.
21-5(5)
If *Industry Innovation and Science Australia registers an applicant under this Part, Industry Innovation and Science Australia must notify the applicant within 60 days after the application was made.
21-5(6)
If *Industry Innovation and Science Australia does not register an applicant under this Part, Industry Innovation and Science Australia must: (a) notify the applicant within 60 days after the application was made; and (b) provide reasons for the decision.
An *entity may apply to *Industry Innovation and Science Australia, in the *form approved by Industry Innovation and Science Australia, for registration under this Part as an *eligible venture capital investor.
View history note
Hide history note21-5(2)
An application must be given to *Industry Innovation and Science Australia within 30 days after the applicant enters into the contract to acquire its first *eligible venture capital investment after the commencement of this Act.
21-5(3)
An application must be in writing, and must include the following information: (a) the applicant ' s current residency status; (b) details of the facts that qualify the applicant as a *tax-exempt foreign resident; (c) the address of the applicant ' s registered office; (d) the name and address of the first *company or unit trust in which the applicant has invested or proposes to invest and the industry in which the company or unit trust operates; (e) the amount of the investment and the date on which it was or is to be made; (f) details of any other investments that the applicant holds in the company or unit trust that are not *eligible venture capital investments.
21-5(4)
*Industry Innovation and Science Australia must register the applicant under this Part if Industry Innovation and Science Australia is satisfied that the information has been provided.
21-5(5)
If *Industry Innovation and Science Australia registers an applicant under this Part, Industry Innovation and Science Australia must notify the applicant within 60 days after the application was made.
21-5(6)
If *Industry Innovation and Science Australia does not register an applicant under this Part, Industry Innovation and Science Australia must: (a) notify the applicant within 60 days after the application was made; and (b) provide reasons for the decision.
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