Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An * entity may apply to * Industry Innovation and Science Australia, in the * form approved by Industry Innovation and Science Australia, for registration under this Part as an * eligible venture capital investor.
(2) An application must be given to * Industry Innovation and Science Australia within 30 days after the applicant enters into the contract to acquire its first * eligible venture capital investment after the commencement of this Act.
(3) An application must be in writing, and must include the following information:
(a) the applicant's current residency status;
(b) details of the facts that qualify the applicant as a * tax - exempt foreign resident;
(c) the address of the applicant's registered office;
(d) the name and address of the first * company or unit trust in which the applicant has invested or proposes to invest and the industry in which the company or unit trust operates;
(e) the amount of the investment and the date on which it was or is to be made;
(f) details of any other investments that the applicant holds in the company or unit trust that are not * eligible venture capital investments.
(4) * Industry Innovation and Science Australia must register the applicant under this Part if Industry Innovation and Science Australia is satisfied that the information has been provided.
(5) If * Industry Innovation and Science Australia registers an applicant under this Part, Industry Innovation and Science Australia must notify the applicant within 60 days after the application was made.
(6) If * Industry Innovation and Science Australia does not register an applicant under this Part, Industry Innovation and Science Australia must:
(a) notify the applicant within 60 days after the application was made; and
(b) provide reasons for the decision.