Commonwealth Consolidated Acts Commonwealth Consolidated Acts(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.
(2) The application must be in the * form approved by Industry Innovation and Science Australia .
(3) In considering whether to make such a decision, * Industry Innovation and Science Australia must apply the principles specified under subsection ( 4).
(4) * Industry Innovation and Science Australia may, by legislative instrument, make principles about making decisions under this section.
(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.
(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.