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VENTURE CAPITAL ACT 2002 - SECT 13.5

Conditional registration

  (1)   * Industry Innovation and Science Australia may conditionally register the partnership as a * VCLP if:

  (a)   a * general partner has applied for registration as a VCLP; and

  (b)   one or more of the following applies:

  (i)   the application for registration does not meet the requirements under section   11 - 1;

  (ii)   any further information requested under section   11 - 10 has not been provided;

  (iii)   the partnership does not meet the * registration requirements of a VCLP;

unless Industry Innovation and Science Australia is satisfied that the partnership:

  (c)   would not, if it was conditionally registered, meet the registration requirements of a VCLP within the period specified under subsection   13 - 10(3); or

  (d)   has had a previous registration revoked under Division   17.

  (1A)   * Industry Innovation and Science Australia may conditionally register the partnership as an * ESVCLP if:

  (a)   a * general partner has applied for registration as an ESVCLP; and

  (b)   one or more of the following applies:

  (i)   the application for registration does not meet the requirements under section   11 - 1;

  (ii)   any further information requested under section   11 - 10 has not been provided;

  (iii)   the partnership does not meet the * registration requirements of an ESVCLP;

unless Industry Innovation and Science Australia is satisfied that the partnership:

  (c)   would not, if it was conditionally registered, meet the registration requirements of an ESVCLP within the period specified under subsection   13 - 10(3); or

  (d)   has had a previous registration revoked under Division   17.

  (2)   * Industry Innovation and Science Australia may conditionally register the partnership as an * AFOF if:

  (a)   a * general partner has applied for registration as an AFOF; and

  (b)   one or more of the following applies:

  (i)   the application for registration does not meet the requirements under section   11 - 1;

  (ii)   any further information requested under section   11 - 10 has not been provided;

  (iii)   the partnership does not meet the * registration requirements of an AFOF;

unless Industry Innovation and Science Australia is satisfied that the partnership:

  (c)   would not, if it was conditionally registered, meet the registration requirements of an AFOF within the period specified under subsection   13 - 10(3); or

  (d)   has had a previous registration revoked under Division   17.

  (3)   Conditional registration under this section does not mean that the partnership is registered under this Part as a * VCLP, an * ESVCLP or an * AFOF.



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