Venture Capital Act 2002

PART 2 - REGISTRATION OF LIMITED PARTNERSHIPS

Division 15 - Obligations while registered

SECTION 15-1

15-1 ANNUAL RETURN

A *general partner of a partnership registered under this Part as a *VCLP, an *ESVCLP or an *AFOF must, within 3 months after the end of each *financial year, give *Industry Innovation and Science Australia a written return that includes the following information:

(a) the name and address of each partner, and that partner ' s residency status at the end of the financial year (including details of changes to that status during the year);

(b) in relation to each partner claiming to be tax exempt - details of the facts that qualify the partner to be tax exempt in his or her country of residence;

(c) details of:

(i) the amount of each partner ' s *committed capital in the partnership; and

(ii) any acquisitions or disposals of a partner ' s *equity interests in the partnership during the year including any consideration given or received for that acquisition or disposal;

(d) details of any variation made to the partnership agreement during the year;

(e) details of:

(i) investments the partnership made during that year; and

(ii) investments the partnership owns at the end of that year; and

(iii) disposals of investments during that year including any profits derived or losses incurred from that disposal;

(f) if the partnership is registered under this Part as a VCLP - a statement from a general partner as to whether the partnership met the *registration requirements of a VCLP throughout the financial year;

(fa) if the partnership is registered under this Part as an ESVCLP - a statement from a general partner as to whether the partnership met the *registration requirements of an ESVCLP throughout the financial year;

(g) if the partnership is registered under this Part as an AFOF - a statement from a general partner as to whether the partnership met the *registration requirements of an AFOF throughout the financial year;

(ga)

View history reference

for an investment in a company that the partnership held throughout the financial year - a statement from a general partner as to whether the company met the requirements of subsections 118-425(3) , (4) , (4A) and (5) of the Income Tax Assessment Act 1997 at all times during that year;

(gb)

View history reference

for an investment in a unit trust that the partnership held throughout the financial year - a statement from a general partner as to whether the unit trust met the requirements of subsections 118-427(4) , (5) , (5A) and (6) of the Income Tax Assessment Act 1997 at all times during that year;

(h)

View history reference

such further information as Industry Innovation and Science Australia determines under section 15-5 .

Note:

Part 7.4 of the Criminal Code creates offences for making false or misleading statements, giving false or misleading information and producing false or misleading documents.

View history note

History

S 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 " in para (h), effective 11 September 2021.

S 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 " in para (h), effective 20 October 2016.

S 15-1 amended by No 54 of 2016, s 3 and Sch 2 items 35 and 36, by substituting para (ga) and inserting " , (5A) " in para (gb), applicable in relation to the first financial year to start on or after 1 July 2016, and in relation to later financial years. Para (ga) formerly read:

(ga) for an investment in a company that the partnership held throughout the financial year - a statement from a general partner as to whether:

(i) the company met the requirements of subsections 118-425(3), (4) and (5) of the Income Tax Assessment Act 1997 at all times during that year; and

(ii) if subsection 118-425(11) of that Act applied to the company in relation to another company - the other company failed to meet the requirements of subparagraph 118-425(11)(d)(i) of that Act at any time during that year; and

(iii) if subsection 118-425(11) of that Act applied to the company in relation to a unit trust - the unit trust failed to meet the requirements of subparagraph 118-425(11)(d)(ii) of that Act at any time during that year;

S 15-1 amended by No 164 of 2007, s 3 and Sch 12 items 158 and 159, by substituting " *Innovation Australia " for " the *Venture Capital Registration Board " and substituting " Innovation Australia " for " the Venture Capital Registration Board " in para (h), effective 27 September 2007.

S 15-1 amended by No 78 of 2007, s 3 and Sch 8 items 253 and 254, by substituting " *Venture Capital Registration Board " for " *PDF Board " and substituting " Venture Capital Registration Board " for " PDF Board " in para (h), effective 21 June 2007.

S 15-1 amended by No 78 of 2007, s 3 and Sch 8 items 185 and 186, by inserting " , an *ESVCLP " after " *VCLP " and inserting para (fa), effective 21 June 2007.

S 15-1 amended by No 78 of 2007, s 3 and Sch 8 items 65 and 66, by substituting all the words from and including " whether " in para (ga) and inserting para (gb), effective 21 June 2007. The words in para (ga) formerly read:

whether the company met the requirements of subsections 118-425(3), (4) and (5), and paragraph 118-425(11)(d), of the Income Tax Assessment Act 1997 at all times during that year;

S 15-1 amended by No 105 of 2004.

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.