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 13-15
AN ESVCLP
'
S APPROVED INVESTMENT PLAN
13-15(1)
A notice under subsection
13-1(3)
to the effect that *Industry Innovation and Science Australia has decided to register a partnership as an *ESVCLP must specify a document that sets out the investment plan in relation to which Industry Innovation and Science Australia is satisfied as mentioned in paragraph
13-1(1A)(c)
.
History
S 13-15(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
"
, effective 11 September 2021.
S 13-15(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
"
, effective 20 October 2016.
S 13-15(1) amended by No 164 of 2007, s 3 and Sch 12 items 148 and 149, by substituting
"
*Innovation Australia
"
for
"
the *Venture Capital Registration Board
"
and substituting
"
Innovation Australia
"
for
"
the Venture Capital Registration Board
"
, effective 27 September 2007.
13-15(2)
An *ESVCLP
'
s
approved investment plan
is:
(a)
the investment plan set out in the document that the notice under subsection
13-1(3)
specifies; or
(b)
if that plan has been replaced under this section, that plan as so replaced.
13-15(3)
A *general partner of an *ESVCLP may, by writing, request Industry Innovation and Science Australia to approve a new plan as a replacement for the ESVCLP
'
s *approved investment plan.
History
S 13-15(3) amended by No 101 of 2021, s 3 and Sch 1 item 6(c), by substituting
"
Industry Innovation and Science Australia
"
for
"
Innovation and Science Australia
"
, effective 11 September 2021.
S 13-15(3) 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 13-15(3) amended by No 164 of 2007, s 3 and Sch 12 item 150, by substituting
"
*Innovation Australia
"
for
"
the *Venture Capital Registration Board
"
, effective 27 September 2007.
13-15(4)
The request must state why the *ESVCLP wants the replacement plan.
13-15(5)
If *Industry Innovation and Science Australia is satisfied that the replacement plan is appropriate, it must grant the request and approve the replacement plan.
Note:
Section
13-20
deals with deciding whether a replacement plan is appropriate.
History
S 13-15(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 13-15(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 13-15(5) amended by No 164 of 2007, s 3 and Sch 12 item 150, by substituting
"
*Innovation Australia
"
for
"
the *Venture Capital Registration Board
"
, effective 27 September 2007.
13-15(6)
If *Industry Innovation and Science Australia approves the replacement plan, the ESVCLP
'
s *approved investment plan is replaced accordingly on the giving of the approval.
History
S 13-15(6) 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 13-15(6) 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 13-15(6) amended by No 164 of 2007, s 3 and Sch 12 item 150, by substituting
"
*Innovation Australia
"
for
"
the *Venture Capital Registration Board
"
, effective 27 September 2007.
13-15(7)
If *Industry Innovation and Science Australia is not satisfied as mentioned in subsection
(5)
, Industry Innovation and Science Australia must refuse the request.
History
S 13-15(7) 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 13-15(7) 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 13-15(7) amended by No 164 of 2007, s 3 and Sch 12 items 151 and 152, by substituting
"
*Innovation Australia
"
for
"
the *Venture Capital Registration Board
"
and substituting
"
Innovation Australia
"
for
"
the Board
"
, effective 27 September 2007.
13-15(8)
*Industry Innovation and Science Australia must give the *general partner who made the request written notice of its decision on the request as soon as practicable after the decision is made.
History
S 13-15(8) 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 13-15(8) 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 13-15(8) amended by No 164 of 2007, s 3 and Sch 12 item 153, by substituting
"
*Innovation Australia
"
for
"
The *Venture Capital Registration Board
"
, effective 27 September 2007.
13-15(9)
If *Industry Innovation and Science Australia
'
s decision is to refuse the request, the notice must also include a statement of its reasons for its decision.
History
S 13-15(9) amended by No 101 of 2021, s 3 and Sch 1 item 6(b), by substituting
"
*Industry Innovation and Science Australia
'
s
"
for
"
*Innovation and Science Australia
'
s
"
, effective 11 September 2021.
S 13-15(9) amended by No 63 of 2016, s 3 and Sch 1 item 49(b), by substituting
"
*Innovation and Science Australia
'
s
"
for
"
*Innovation Australia
'
s
"
, effective 20 October 2016.
S 13-15(9) amended by No 164 of 2007, s 3 and Sch 12 item 154, by substituting
"
*Innovation Australia
'
s
"
for
"
the *Venture Capital Registration Board
'
s
"
, effective 27 September 2007.
13-15(10)
A failure to comply with subsection
(8)
or
(9)
does not affect the validity of the decision.
History
S 13-15 inserted by No 78 of 2007, s 3 and Sch 8 item 184, effective 21 June 2007.
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