VENTURE CAPITAL ACT 2002 No. 137, 2002 - SECT 21.5 Registration as eligible venture capital investors

Commonwealth Numbered Acts

Registration as eligible venture capital investors

(1): An ^*entity may apply to the ^*PDF Board, in the ^*form approved by the PDF Board, for registration under this Part as an ^*eligible venture capital investor.
(2): An application must be given to the ^*PDF Board 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 non-resident;
(c): the address of the applicant's registered office;
(d): the name and address of the first ^*company in which the applicant has invested or proposes to invest and the industry in which the company 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 that are not ^*eligible venture capital investments.

(4): The ^*PDF Board must register the applicant under this Part if the PDF Board is satisfied that the information has been provided.
(5): If the ^*PDF Board registers an applicant under this Part, the PDF Board must notify the applicant within 60 days after the application was made.
(6): If the ^*PDF Board does not register an applicant under this Part, the PDF Board must:

(a): notify the applicant within 60 days after the application was made; and
(b): provide reasons for the decision.

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