Commonwealth Consolidated Acts

VENTURE CAPITAL ACT 2002 - SECT 13.20

  (1)   In deciding, for the purposes of paragraph   13 - 1(1A)(c) or subsection   13 - 15(5), whether it is satisfied that a partnership's investment plan, or a replacement for a partnership's * approved investment plan, is appropriate, * Industry Innovation and Science Australia must take into account the extent to which the partnership focuses on early stage venture capital, having regard to:

  (a)   the stages of development of the entities in which the partnership proposes to invest; and

  (b)   the levels of cash flow of those entities; and

  (c)   the levels of technology of those entities; and

  (d)   the proportions of intellectual property to total assets of those entities; and

  (e)   the levels of risk and return of those entities; and

  (f)   the amount of tangible assets and collateral of those entities against which borrowings may be secured; and

  (g)   the requirements of this Act relating to an * ESVCLP making and holding investments; and

  (h)   whether the partnership's * committed capital can only be used in relation to early stage venture capital, and whether it can be transferred to other entities; and

  (i)   whether the investment plan is connected with other plans for investment that, if combined with the investment plan, would lead to the partnership exceeding the limit on * committed capital under subparagraph   9 - 3(1)(d)(ii); and

  (j)   any additional matters specified in guidelines made under subsection   ( 2).

  (2)   * Industry Innovation and Science Australia may, by legislative instrument, make guidelines specifying additional matters that it must take into account in deciding, for the purposes of paragraph   13 - 1(1A)(c) or subsection   13 - 15(5), whether it is satisfied that:

  (a)   a partnership's investment plan is appropriate; or

  (b)   a replacement for a partnership's * approved investment plan is appropriate;

as the case requires.

  (3)   This section does not limit the matters that * Industry Innovation and Science Australia may take into account in deciding, for the purposes of paragraph   13 - 1(1A)(c) or subsection   13 - 15(5), whether it is satisfied that:

  (a)   a partnership's investment plan is appropriate; or

  (b)   a replacement for a partnership's * approved investment plan is appropriate;

as the case requires.

Table of sections

15 - 1   Annual return

15 - 5   Determination of further information to be included in returns

15 - 10   Quarterly returns

15 - 15   Further information may be requested

15 - 17   Annual reports for ESVCLPs

15 - 20   Other information may be requested