PART 3
-
REGISTRATION OF ELIGIBLE VENTURE CAPITAL INVESTORS
Division 21
-
Registration of eligible venture capital investors
Operative provisions
SECTION 21-5
REGISTRATION AS ELIGIBLE VENTURE CAPITAL INVESTORS
21-5(1)
An *entity may apply to *Industry Innovation and Science Australia, in the *form approved by Industry Innovation and Science Australia, for registration under this Part as an *eligible venture capital investor.
History
S 21-5(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 21-5(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 21-5(1) amended by No 164 of 2007, s 3 and Sch 12 items 201 and 202, by substituting
"
*Innovation Australia
"
for
"
the *Venture Capital Registration Board
"
and substituting
"
*form approved by Innovation Australia
"
for
"
*form approved by the Venture Capital Registration Board
"
, effective 27 September 2007.
S 21-5(1) amended by No 78 of 2007, s 3 and Sch 8 items 280 and 281, by substituting
"
*Venture Capital Registration Board
"
for
"
*PDF Board
"
and substituting
"
Venture Capital Registration Board
"
for
"
PDF Board
"
, effective 21 June 2007.
21-5(2)
An application must be given to *Industry Innovation and Science Australia within 30 days after the applicant enters into the contract to acquire its first *eligible venture capital investment after the commencement of this Act.
History
S 21-5(2) 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 21-5(2) 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 21-5(2) amended by No 164 of 2007, s 3 and Sch 12 item 203, by substituting
"
*Innovation Australia
"
for
"
the *Venture Capital Registration Board
"
, effective 27 September 2007.
S 21-5(2) amended by No 78 of 2007, s 3 and Sch 8 item 282, by substituting
"
*Venture Capital Registration Board
"
for
"
*PDF Board
"
, effective 21 June 2007.
21-5(3)
An application must be in writing, and must include the following information:
(a)
the applicant
'
s current residency status;
(b)
details of the facts that qualify the applicant as a *tax-exempt foreign resident;
(c)
the address of the applicant
'
s registered office;
(d)
the name and address of the first *company or unit trust in which the applicant has invested or proposes to invest and the industry in which the company or unit trust operates;
(e)
the amount of the investment and the date on which it was or is to be made;
(f)
details of any other investments that the applicant holds in the company or unit trust that are not *eligible venture capital investments.
History
S 21-5(3) amended by No 78 of 2007, s 3 and Sch 8 items 70 to 72, by inserting
"
or unit trust
"
after
"
*company
"
and inserting
"
or unit trust
"
after
"
the company
"
in para (d) and inserting
"
or unit trust
"
after
"
company
"
in para (f), effective 21 June 2007.
S 21-5(3) amended by No 41 of 2005.
21-5(4)
*Industry Innovation and Science Australia must register the applicant under this Part if Industry Innovation and Science Australia is satisfied that the information has been provided.
History
S 21-5(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 21-5(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 21-5(4) amended by No 164 of 2007, s 3 and Sch 12 items 204 and 205, 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 21-5(4) amended by No 78 of 2007, s 3 and Sch 8 items 282 and 283, by substituting
"
*Venture Capital Registration Board
"
for
"
*PDF Board
"
and substituting
"
Venture Capital Registration Board
"
for
"
PDF Board
"
, effective 21 June 2007.
21-5(5)
If *Industry Innovation and Science Australia registers an applicant under this Part, Industry Innovation and Science Australia must notify the applicant within 60 days after the application was made.
History
S 21-5(5) 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 21-5(5) 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 21-5(5) amended by No 164 of 2007, s 3 and Sch 12 items 206 and 207, 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 21-5(5) amended by No 78 of 2007, s 3 and Sch 8 items 284 and 285, by substituting
"
*Venture Capital Registration Board
"
for
"
*PDF Board
"
and substituting
"
Venture Capital Registration Board
"
for
"
PDF Board
"
, effective 21 June 2007.
21-5(6)
If *Industry Innovation and Science Australia does not register an applicant under this Part, Industry Innovation and Science Australia must:
(a)
notify the applicant within 60 days after the application was made; and
(b)
provide reasons for the decision.
History
S 21-5(6) 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 21-5(6) 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 21-5(6) amended by No 164 of 2007, s 3 and Sch 12 items 208 and 209, 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 21-5(6) amended by No 78 of 2007, s 3 and Sch 8 items 286 and 287, by substituting
"
*Venture Capital Registration Board
"
for
"
*PDF Board
"
and substituting
"
Venture Capital Registration Board
"
for
"
PDF Board
"
, effective 21 June 2007.
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