VENTURE CAPITAL ACT 2002

PART 2 - REGISTRATION OF LIMITED PARTNERSHIPS  

Division 13 - Registration  

SECTION 13-10   WHEN REGISTRATION IS IN FORCE  

13-10(1)  
Registration of the partnership as a *VCLP, an *ESVCLP or an *AFOF comes into force on the day on which registration under section 13-1 was granted.

13-10(2)  


However, if conditional registration of the partnership had been granted under section 13-5 and was in force on the day on which registration under section 13-1 was granted:


(a) for the purposes of this Act and the Income Tax Assessment Act 1936 , registration of the partnership as a *VCLP, an *ESVCLP or an *AFOF is taken to have come into force on:


(i) if, since its establishment, the partnership has only carried on activities related to becoming registered as a VCLP, an ESVCLP or an AFOF - the day on which it was established; or

(ii) otherwise - the day on which the conditional registration was granted;
and the partnership is taken, for the purposes of this Act and that Act, to have been *unconditionally registered from the day; and


(b) for the purposes of the Income Tax Assessment Act 1997 :


(i) registration of the partnership as a VCLP, an ESVCLP or an AFOF is taken to have come into force on the day on which the conditional registration was granted; and

(ii) the partnership is taken to have been unconditionally registered from the day.

13-10(3)  
If a *VCLP, an *ESVCLP or an *AFOF is not registered under section 13-1 within 24 months after the day on which the conditional registration of the partnership was granted under section 13-5 , the conditional registration lapses.

13-10(4)  
Registration is taken to be in force until revoked under Division 17 .




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