Venture Capital Act 2002

PART 2 - REGISTRATION OF LIMITED PARTNERSHIPS

Division 15 - Obligations while registered

SECTION 15-1

15-1 ANNUAL RETURN

A *general partner of a partnership registered under this Part as a *VCLP, an *ESVCLP or an *AFOF must, within 3 months after the end of each *financial year, give *Industry Innovation and Science Australia a written return that includes the following information:

(a) the name and address of each partner, and that partner ' s residency status at the end of the financial year (including details of changes to that status during the year);

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

(c) details of:

(i) the amount of each partner ' s *committed capital in the partnership; and

(ii) any acquisitions or disposals of a partner ' s *equity interests in the partnership during the year including any consideration given or received for that acquisition or disposal;

(d) details of any variation made to the partnership agreement during the year;

(e) details of:

(i) investments the partnership made during that year; and

(ii) investments the partnership owns at the end of that year; and

(iii) disposals of investments during that year including any profits derived or losses incurred from that disposal;

(f) if the partnership is registered under this Part as a VCLP - a statement from a general partner as to whether the partnership met the *registration requirements of a VCLP throughout the financial year;

(fa) if the partnership is registered under this Part as an ESVCLP - a statement from a general partner as to whether the partnership met the *registration requirements of an ESVCLP throughout the financial year;

(g) if the partnership is registered under this Part as an AFOF - a statement from a general partner as to whether the partnership met the *registration requirements of an AFOF throughout the financial year;

(ga)

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for an investment in a company that the partnership held throughout the financial year - a statement from a general partner as to whether the company met the requirements of subsections 118-425(3) , (4) , (4A) and (5) of the Income Tax Assessment Act 1997 at all times during that year;

(gb)

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for an investment in a unit trust that the partnership held throughout the financial year - a statement from a general partner as to whether the unit trust met the requirements of subsections 118-427(4) , (5) , (5A) and (6) of the Income Tax Assessment Act 1997 at all times during that year;

(h)

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such further information as Industry Innovation and Science Australia determines under section 15-5 .

Note:

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

View history note

History

S 15-1 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 " in para (h), effective 11 September 2021.

S 15-1 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 " in para (h), effective 20 October 2016.

S 15-1 amended by No 54 of 2016, s 3 and Sch 2 items 35 and 36, by substituting para (ga) and inserting " , (5A) " in para (gb), applicable in relation to the first financial year to start on or after 1 July 2016, and in relation to later financial years. Para (ga) formerly read:

(ga) for an investment in a company that the partnership held throughout the financial year - a statement from a general partner as to whether:

(i) the company met the requirements of subsections 118-425(3), (4) and (5) of the Income Tax Assessment Act 1997 at all times during that year; and

(ii) if subsection 118-425(11) of that Act applied to the company in relation to another company - the other company failed to meet the requirements of subparagraph 118-425(11)(d)(i) of that Act at any time during that year; and

(iii) if subsection 118-425(11) of that Act applied to the company in relation to a unit trust - the unit trust failed to meet the requirements of subparagraph 118-425(11)(d)(ii) of that Act at any time during that year;

S 15-1 amended by No 164 of 2007, s 3 and Sch 12 items 158 and 159, by substituting " *Innovation Australia " for " the *Venture Capital Registration Board " and substituting " Innovation Australia " for " the Venture Capital Registration Board " in para (h), effective 27 September 2007.

S 15-1 amended by No 78 of 2007, s 3 and Sch 8 items 253 and 254, by substituting " *Venture Capital Registration Board " for " *PDF Board " and substituting " Venture Capital Registration Board " for " PDF Board " in para (h), effective 21 June 2007.

S 15-1 amended by No 78 of 2007, s 3 and Sch 8 items 185 and 186, by inserting " , an *ESVCLP " after " *VCLP " and inserting para (fa), effective 21 June 2007.

S 15-1 amended by No 78 of 2007, s 3 and Sch 8 items 65 and 66, by substituting all the words from and including " whether " in para (ga) and inserting para (gb), effective 21 June 2007. The words in para (ga) formerly read:

whether the company met the requirements of subsections 118-425(3), (4) and (5), and paragraph 118-425(11)(d), of the Income Tax Assessment Act 1997 at all times during that year;

S 15-1 amended by No 105 of 2004.