Venture Capital Act 2002
Industry Innovation and Science Australia can register limited partnerships as venture capital limited partnerships, early stage venture capital limited partnerships or Australian venture capital funds of funds.
Registration is one of the requirements before investments of venture capital through a limited partnership can attract the operation of:
Broadly speaking, Industry Innovation and Science Australia will register a limited partnership under Division 13 if an application meets the requirements of Division 11 , unless Industry Innovation and Science Australia is satisfied that the partnership does not meet the applicable registration requirements of Division 9 .
Conditional registration is an option if an application does not meet the requirements of Division 11 .
Note:
Conditional registration becomes important if full registration is achieved. Registration is then backdated at least to the time of conditional registration.
Industry Innovation and Science Australia can revoke a registration under Division 17 . Broadly speaking, the grounds for revocation are:
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