PART 2
-
REGISTRATION OF LIMITED PARTNERSHIPS
History
Part 2 (heading) substituted by No 78 of 2007, s 3 and Sch 8 item 168, effective 21 June 2007. The heading formerly read:
PART 2
-
REGISTRATION OF VENTURE CAPITAL LIMITED PARTNERSHIPS AND AUSTRALIAN VENTURE CAPITAL FUNDS OF FUNDS
Division 13
-
Registration
SECTION 13-1
REGISTRATION
13-1(1)
*Industry Innovation and Science Australia must register a partnership as a *VCLP under this Part if:
(a)
a *general partner has applied for registration as a VCLP; and
(b)
the application meets the requirements under section
11-1
; and
(c)
any further information requested under section
11-10
has been provided; and
(d)
a general partner has notified Industry Innovation and Science Australia that the VCLP has sufficient funds to begin its investment program;
unless Industry Innovation and Science Australia is satisfied that the partnership:
(e)
does not meet the *registration requirements of a VCLP; or
(f)
has had a previous registration revoked under Division
17
.
History
S 13-1(1) amended by No 101 of 2021, s 3 and Sch 1 items 6(a) and (c), by substituting
"
*Industry Innovation and Science Australia
"
for
"
*Innovation and Science Australia
"
and
"
Industry Innovation and Science Australia
"
for
"
Innovation and Science Australia
"
(wherever occurring), effective 11 September 2021.
S 13-1(1) amended by No 63 of 2016, s 3 and Sch 1 items 49(a) and (c), by substituting
"
*Innovation and Science Australia
"
for
"
*Innovation Australia
"
and
"
Innovation and Science Australia
"
for
"
Innovation Australia
"
(wherever occurring), effective 20 October 2016.
S 13-1(1) amended by No 164 of 2007, s 3 and Sch 12 items 127 to 129, by substituting
"
*Innovation Australia
"
for
"
The *Venture Capital Registration Board
"
, substituting
"
Innovation Australia
"
for
"
the Venture Capital Registration Board
"
in para (d) and substituting
"
Innovation Australia
"
for
"
the Venture Capital Registration Board
"
(last occurring), effective 27 September 2007.
S 13-1(1) amended by No 78 of 2007, s 3 and Sch 8 items 239 to 241, by substituting
"
*Venture Capital Registration Board
"
for
"
*PDF Board
"
, substituting
"
Venture Capital Registration Board
"
for
"
PDF Board
"
in para (d) and substituting
"
Venture Capital Registration Board
"
for
"
PDF Board
"
(last occurring), effective 21 June 2007.
13-1(1A)
*Industry Innovation and Science Australia must register a partnership as an *ESVCLP under this Part if:
(a)
a *general partner has applied for registration as an ESVCLP; and
(b)
the application meets the requirements under section
11-1
; and
(c)
Industry Innovation and Science Australia is satisfied that the partnership
'
s investment plan (as set out in the application or that plan as since approved by Industry Innovation and Science Australia) is appropriate; and
Note:
Section
13-20
deals with deciding whether an investment plan is appropriate.
(d)
Industry Innovation and Science Australia is satisfied that the partnership has access to the skills and resources necessary to implement, and is reasonably likely to be able to implement, its investment plan; and
(e)
any further information requested under section
11-10
has been provided; and
(f)
a general partner has notified Industry Innovation and Science Australia that the ESVCLP has sufficient funds to begin its investment program;
unless Industry Innovation and Science Australia is satisfied that the partnership:
(g)
does not meet the *registration requirements of an ESVCLP; or
(h)
has had a previous registration revoked under Division
17
.
History
S 13-1(1A) amended by No 101 of 2021, s 3 and Sch 1 items 6(a) and (c), by substituting
"
*Industry Innovation and Science Australia
"
for
"
*Innovation and Science Australia
"
and
"
Industry Innovation and Science Australia
"
for
"
Innovation and Science Australia
"
(wherever occurring), effective 11 September 2021.
S 13-1(1A) amended by No 63 of 2016, s 3 and Sch 1 items 49(a) and (c), by substituting
"
*Innovation and Science Australia
"
for
"
*Innovation Australia
"
and
"
Innovation and Science Australia
"
for
"
Innovation Australia
"
(wherever occurring), effective 20 October 2016.
S 13-1(1A) amended by No 164 of 2007, s 3 and Sch 12 items 130 to 133, by substituting
"
*Innovation Australia
"
for
"
The *Venture Capital Registration Board
"
, substituting
"
Innovation Australia
"
for
"
the Venture Capital Registration Board
"
(wherever occurring) in para (c), substituting
"
Innovation Australia
"
for
"
the Venture Capital Registration Board
"
in paras (d) and (f) and substituting
"
Innovation Australia
"
for
"
the Venture Capital Registration Board
"
(last occurring), effective 27 September 2007.
S 13-1(1A) inserted by No 78 of 2007, s 3 and Sch 8 item 177, effective 21 June 2007.
13-1(2)
*Industry Innovation and Science Australia must register a partnership as an *AFOF under this Part if:
(a)
a *general partner has applied for registration as an AFOF; and
(b)
the application meets the requirements under section
11-1
; and
(c)
any further information requested under section
11-10
has been provided; and
(d)
a general partner has notified Industry Innovation and Science Australia that the AFOF has sufficient funds to begin its investment program;
unless Industry Innovation and Science Australia is satisfied that the partnership:
(e)
does not meet the *registration requirements of an AFOF; or
(f)
has had a previous registration revoked under Division
17
.
History
S 13-1(2) amended by No 101 of 2021, s 3 and Sch 1 items 6(a) and (c), by substituting
"
*Industry Innovation and Science Australia
"
for
"
*Innovation and Science Australia
"
and
"
Industry Innovation and Science Australia
"
for
"
Innovation and Science Australia
"
(wherever occurring), effective 11 September 2021.
S 13-1(2) amended by No 63 of 2016, s 3 and Sch 1 items 49(a) and (c), by substituting
"
*Innovation and Science Australia
"
for
"
*Innovation Australia
"
and
"
Innovation and Science Australia
"
for
"
Innovation Australia
"
(wherever occurring), effective 20 October 2016.
S 13-1(2) amended by No 164 of 2007, s 3 and Sch 12 items 134 to 136, by substituting
"
*Innovation Australia
"
for
"
The *Venture Capital Registration Board
"
, substituting
"
Innovation Australia
"
for
"
the Venture Capital Registration Board
"
in para (d) and substituting
"
Innovation Australia
"
for
"
the Venture Capital Registration Board
"
(last occurring), effective 27 September 2007.
S 13-1(2) amended by No 78 of 2007, s 3 and Sch 8 items 242 to 244, by substituting
"
*Venture Capital Registration Board
"
for
"
*PDF Board
"
, substituting
"
Venture Capital Registration Board
"
for
"
PDF Board
"
in para (d) and substituting
"
Venture Capital Registration Board
"
for
"
PDF Board
"
(last occurring), effective 21 June 2007.
13-1(3)
If *Industry Innovation and Science Australia decides to register the partnership as a *VCLP, an *ESVCLP or an *AFOF under this Part, Industry Innovation and Science Australia must notify a *general partner of the partnership as soon as practicable after the decision is made.
History
S 13-1(3) amended by No 101 of 2021, s 3 and Sch 1 items 6(a) and (c), by substituting
"
*Industry Innovation and Science Australia
"
for
"
*Innovation and Science Australia
"
and
"
Industry Innovation and Science Australia
"
for
"
Innovation and Science Australia
"
, effective 11 September 2021.
S 13-1(3) amended by No 63 of 2016, s 3 and Sch 1 items 49(a) and (c), by substituting
"
*Innovation and Science Australia
"
for
"
*Innovation Australia
"
and
"
Innovation and Science Australia
"
for
"
Innovation Australia
"
, effective 20 October 2016.
S 13-1(3) amended by No 164 of 2007, s 3 and Sch 12 items 137 and 138, by substituting
"
*Innovation Australia
"
for
"
the *Venture Capital Registration Board
"
and substituting
"
Innovation Australia
"
for
"
the Venture Capital Registration Board
"
, effective 27 September 2007.
S 13-1(3) amended by No 78 of 2007, s 3 and Sch 8 items 245 and 246, by substituting
"
*Venture Capital Registration Board
"
for
"
*PDF Board
"
and substituting
"
Venture Capital Registration Board
"
for
"
PDF Board
"
, effective 21 June 2007.
S 13-1(3) amended by No 78 of 2007, s 3 and Sch 8 item 178, by inserting
"
, an *ESVCLP
"
after
"
*VCLP
"
, effective 21 June 2007.
13-1(4)
If *Industry Innovation and Science Australia decides not to register the partnership as a *VCLP, an *ESVCLP or an *AFOF under this Part, Industry Innovation and Science Australia must:
(a)
notify a *general partner of the partnership as soon as practicable after the decision is made; and
(b)
provide reasons for the decision.
History
S 13-1(4) amended by No 101 of 2021, s 3 and Sch 1 items 6(a) and (c), by substituting
"
*Industry Innovation and Science Australia
"
for
"
*Innovation and Science Australia
"
and
"
Industry Innovation and Science Australia
"
for
"
Innovation and Science Australia
"
, effective 11 September 2021.
S 13-1(4) amended by No 63 of 2016, s 3 and Sch 1 items 49(a) and (c), by substituting
"
*Innovation and Science Australia
"
for
"
*Innovation Australia
"
and
"
Innovation and Science Australia
"
for
"
Innovation Australia
"
, effective 20 October 2016.
S 13-1(4) amended by No 164 of 2007, s 3 and Sch 12 items 139 and 140, by substituting
"
*Innovation Australia
"
for
"
the *Venture Capital Registration Board
"
and substituting
"
Innovation Australia
"
for
"
the Venture Capital Registration Board
"
, effective 27 September 2007.
S 13-1(4) amended by No 78 of 2007, s 3 and Sch 8 items 247 and 248, by substituting
"
*Venture Capital Registration Board
"
for
"
*PDF Board
"
and substituting
"
Venture Capital Registration Board
"
for
"
PDF Board
"
, effective 21 June 2007.
S 13-1(4) amended by No 78 of 2007, s 3 and Sch 8 item 178, by inserting
"
, an *ESVCLP
"
after
"
*VCLP
"
, effective 21 June 2007.
13-1(5)
*Industry Innovation and Science Australia cannot register the partnership:
(a)
both as a *VCLP and as an *ESVCLP; or
(b)
both as a VCLP and as an *AFOF; or
(c)
both as an ESVCLP and as an AFOF; or
(d)
as a VCLP, as an ESVCLP and as an AFOF.
History
S 13-1(5) amended by No 101 of 2021, s 3 and Sch 1 item 6(a), by substituting
"
*Industry Innovation and Science Australia
"
for
"
*Innovation and Science Australia
"
, effective 11 September 2021.
S 13-1(5) amended by No 63 of 2016, s 3 and Sch 1 item 49(a), by substituting
"
*Innovation and Science Australia
"
for
"
*Innovation Australia
"
, effective 20 October 2016.
S 13-1(5) amended by No 164 of 2007, s 3 and Sch 12 item 141, by substituting
"
*Innovation Australia
"
for
"
The *Venture Capital Registration Board
"
, effective 27 September 2007.
S 13-1(5) substituted by No 78 of 2007, s 3 and Sch 8 item 179, effective 21 June 2007. S 13-1(5) formerly read:
13-1(5)
The *PDF Board cannot register the partnership both as a *VCLP and as an *AFOF.
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