Venture Capital Act 2002

PART 3 - REGISTRATION OF ELIGIBLE VENTURE CAPITAL INVESTORS  

Division 21 - Registration of eligible venture capital investors  

Guide to Division 21  

SECTION 21-1   WHAT THIS DIVISION IS ABOUT  

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Industry Innovation and Science Australia can register entities as eligible venture capital investors, and revoke their registration.

Registration is one of the requirements before investments of venture capital by an entity directly (rather than through a limited partnership) can attract the operation of section 118-415 of the Income Tax Assessment Act 1997 (and the related provisions about similar income gains and losses).

Note:

Section 118-415 of the Income Tax Assessment Act 1997 gives to an individual investor an equivalent capital gains tax exemption to the one that the investor could have, under section 118-405 or 118-410 of that Act, from investing through a limited partnership registered under Part 2 of this Act.

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History

S 21-1 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 21-1 amended by No 63 of 2016, s 3 and Sch 1 item 49(c), by substituting " Innovation and Science Australia " for " Innovation Australia " , effective 20 October 2016.

S 21-1 amended by No 164 of 2007, s 3 and Sch 12 item 200, by substituting " Innovation Australia " for " The Venture Capital Registration Board " , effective 27 September 2007.

S 21-1 amended by No 78 of 2007, s 3 and Sch 8 item 279, by substituting " Venture Capital Registration Board " for " PDF Board " , effective 21 June 2007.

TABLE OF SECTIONS
Operative provisions
21-5	Registration as eligible venture capital investors
21-10	Period within which application must be decided
21-15	When registration is in force
21-20	Annual return by eligible entity
21-25	Revocation at discretion of Industry Innovation and Science Australia
21-30	Revocation on application

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