VENTURE CAPITAL ACT 2002

PART 2 - REGISTRATION OF LIMITED PARTNERSHIPS  

Division 11 - Application for registration  

SECTION 11-1   APPLICATION FOR REGISTRATION  

11-1(1)  


A *general partner of a *limited partnership may apply, in the *form approved by Innovation and Science Australia, to *Innovation and Science Australia for registration of the partnership as a *VCLP, an *ESVCLP or an *AFOF under this Part.

11-1(2)  


An application must be in writing, and must include the following information:


(a) the name and residency status of, and the relevant qualifications and experience of, each *general partner;


(b) the name, address and residency status of each *limited partner;


(c) for each general partner that is a *company - the address of the general partner ' s registered office;


(d) for each general partner who is an individual - the general partner ' s business address;


(e) the partnership ' s business address;


(f) a copy of the partnership agreement, which must:


(i) require partners to contribute their *committed capital as and when required under the agreement; and

(ii) prohibit the addition of new partners to the partnership except as provided for in the agreement; and

(iii) prohibit increases in the partnership ' s committed capital except as provided for in the agreement; and

(iv) confer on a general partner the right to require partners to contribute their committed capital to the partnership; and

(v) include a plan which outlines the partnership ' s future intended investment activities;


(g) any documents that were issued inviting investment in the partnership;


(h) the amount of each partner ' s committed capital in the partnership;


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


(j) if the application is an application for registration as a VCLP - a statement by a general partner as to whether the partnership meets the *registration requirements of a VCLP;


(ja) if the application is an application for registration as an *ESVCLP - a statement by a general partner as to whether the partnership meets the *registration requirements of an ESVCLP;


(k) if the application is an application for registration as an AFOF - a statement by a general partner as to whether the partnership meets the *registration requirements of an AFOF;


(l) such further information as *Innovation and Science Australia determines under section 11-5 .

Note:

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




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