Venture Capital Act 2002

PART 2 - REGISTRATION OF LIMITED PARTNERSHIPS

Division 15 - Obligations while registered

SECTION 15-10

15-10 QUARTERLY RETURNS

A *general partner of a partnership registered under this Part as a *VCLP, an *ESVCLP or an *AFOF must, within one month after the end of each *quarter, give *Industry Innovation and Science Australia a written return that includes:

(a) details of any investments it has made during the quarter, and the consideration given for those investments; and

(b) details of any disposals of investments during the quarter, and any profit derived or loss incurred from those disposals (including details of how that profit or loss was calculated); and

(c)

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for each investment in a company made during the quarter - 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 the quarter after the investment was made; and

(d)

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for each disposal of an investment in a company during the quarter - 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 the quarter up to the day of disposal; and

(e)

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for each investment in a unit trust made during the quarter - 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 the quarter after the investment was made; and

(f)

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for each disposal of an investment in a unit trust during the quarter - a statement from a general partner as to whether the unit trust met those requirements at all times during the quarter up to the day of disposal.

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History

S 15-10 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 15-10 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 15-10 amended by No 54 of 2016, s 3 and Sch 2 items 37 and 38, by substituting para (c) and (d) and inserting " , (5A) " in para (e), applicable in relation to the first quarter to start on or after 1 July 2016, and in relation to later quarters. Para (c) and (d) formerly read:

(c) for each investment in a company made during the quarter - 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 the quarter after the investment was made; 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 the quarter after the investment was made; 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 the quarter after the investment was made; and

(d) for each disposal of an investment in a company during the quarter - 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 the quarter up to the day of disposal; 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 the quarter up to the day of disposal; 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 the quarter up to the day of disposal; and

S 15-10 amended by No 164 of 2007, s 3 and Sch 12 item 162, by substituting " *Innovation Australia " for " the *Venture Capital Registration Board " , effective 27 September 2007.

S 15-10 amended by No 78 of 2007, s 3 and Sch 8 item 257, by substituting " *Venture Capital Registration Board " for " *PDF Board " , effective 21 June 2007.

S 15-10 amended by No 78 of 2007, s 3 and Sch 8 item 187, by inserting " , an *ESVCLP " after " *VCLP " , effective 21 June 2007.

S 15-10 amended by No 78 of 2007, s 3 and Sch 8 items 67 to 69, by substituting all the words from and including " whether " in para (c) and (d) and inserting paras (e) and (f) at the end, effective 21 June 2007. The words from and including " whether " in paras (c) and (d) 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 the quarter after the investment was made; and

whether the company met those requirements at all times during the quarter up to the day of disposal

S 15-10 amended by No 105 of 2004.

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