Venture Capital Act 2002

PART 2 - REGISTRATION OF LIMITED PARTNERSHIPS  

Division 9 - Registration requirements  

SECTION 9-4   ALLOWING A PARTNER ' S COMMITTED CAPITAL TO EXCEED THE 30% LIMIT  

9-4(1)    


*Industry Innovation and Science Australia may, on the application of a partner of a partnership, make a decision allowing the partner ' s committed capital in the partnership to exceed 30% of the partnership ' s committed capital.

9-4(2)    


The application must be in the *form approved by Industry Innovation and Science Australia.

9-4(3)    


In considering whether to make such a decision, *Industry Innovation and Science Australia must apply the principles specified under subsection (4) .

9-4(4)    


*Industry Innovation and Science Australia may, by legislative instrument, make principles about making decisions under this section.

9-4(5)    


If *Industry Innovation and Science Australia makes a decision under this section, Industry Innovation and Science Australia must notify the *general partner as soon as practicable after the decision is made.

9-4(6)    


If *Industry Innovation and Science Australia refuses to make a decision allowing the partner ' s committed capital in the partnership to exceed 30% of the partnership ' s committed capital, Industry Innovation and Science Australia must:


(a) notify the *general partner as soon as practicable after the refusal; and


(b) provide reasons for the refusal.





This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.