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.
View history note
Hide history note*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.