Document ID: chunk:federal_register_of_legislation:F2011L02738:body:0:p4
Version: federal_register_of_legislation:F2011L02738
Segment Type: other
Provision Reference: 
Character Range: 8706–11975

of capital to be committed by each;

(d)               the amount of capital, if any, to be committed by the proposed key personnel of the fund manager;

    The applicant's proposed investment strategy

(e)                the extent to which the fund's proposed investment strategy is consistent with the objectives of the IIF program, including the establishment and management of a balanced portfolio of investments in early stage companies;

(f)                 the number and the size of investments the fund proposes to make and the proposed investment sector by activity;

(g)               the level and structure of management fees proposed;

    The experience of the applicant's investment team

(h)               whether the applicant has a balanced management team including relevantly qualified and skilled personnel;

(i)                 the applicant's capacity and experience in early stage equity investing giving particular attention to realising returns from investments, sourcing investment opportunities and managing an investment portfolio;

(j)                 whether the applicant has an understanding of and experience in dealing with issues related to Australian and international investments, products, services and markets;

(k)               whether the proposed applicant has effective strategies to contribute to training and developing of Australian based staff in all aspects of making venture capital investments in early stage companies;

    Intent

(l)                 whether the applicant has a demonstrated willingness to operate within the intent of the IIF program.

Other Matters

10.             The Board may, in its absolute discretion, attribute a higher level of relative importance to one or more of the merit criteria.

11.             Applicants may, at the request of the Program Delegate, be required, at the time of lodgement of application, to demonstrate to the satisfaction of the Board their ability to access the required level of privately sourced capital.

12.             The Board may have regard to the accessibility of the program for industry around Australia.

13.             The Board may have regard to additional criteria and undertake other enquiries in order to consider the suitability of applicants.

14.             The Program Delegate may make policies of general application in relation to the administration of the IIF program. When making such policies the Program Delegate will seek the advice of the Board.

15.             The Program Delegate may make decisions and guidelines in relation to the administration of the IIF program. When making such decisions and guidelines the Program Delegate may seek the advice of the Board.

16.             The Program Delegate will seek the advice of the Board on the following matters:

             (a)            new investments by a licensed fund beyond the fifth anniversary of the granting of a licence;

             (b)           changes to the key personnel of a licensed fund;

             (c)            changes in the structure of a licensed fund;

             (d)           the application of sanctions against a manager or investor;

             (e)            the suspension of funding in relation