Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The registration requirements of an AFOF , in relation to a * limited partnership, are that:
(a) the partnership is established by or under the law of a State or Territory; and
(b) all of the partners who are * general partners are * Australian residents; and
(c) under the partnership agreement, the partnership is to remain in existence for a period of not less than 5 years and not more than 20 years; and
(d) each investment that the partnership owns is:
(i) an investment in a * VCLP or an * ESVCLP ; or
(ii) an * eligible venture capital investment in a company or unit trust in which a VCLP or an ESVCLP , of which the partnership is a partner, owns one or more eligible venture capital investments; or
(iii) an investment in a company referred to in subparagraph ( ii) that would have been an eligible venture capital investment but for subsections 118 - 425(2) and (6) of the Income Tax Assessment Act 1997 ; or
(iv) an investment in a unit trust referred to in subparagraph ( ii) that would have been an eligible venture capital investment but for subsections 118 - 427(3) and (7) of the Income Tax Assessment Act 1997 ; and
(e) the partnership only carries on activities that are related to making eligible venture capital investments, investments to which subparagraph ( d)(iii) applies or investments to which subparagraph ( d)(iv) applies, or investing in VCLPs or ESVCLPs ; and
(f) every * debt interest that the partnership owns is, and continues to be, a * permitted loan.
(2) The requirements in paragraphs ( 1)(d), (e) and (f)
are investment registration requirements .