Document ID: chunk:federal_register_of_legislation:C2016A00054:clause:2_73
Version: federal_register_of_legislation:C2016A00054
Segment Type: clause
Provision Reference: sch 2 cl 73
Character Range: 82577–83597

73  After subsection 275‑10(4)
Insert:
 (4A) In determining whether a trust is covered by subsection (4), disregard any interest that the trust has in a *VCLP or an *ESVCLP unless:
 (a) the trust is a *general partner of the VCLP or ESVCLP; or
 (b) the trust has *committed capital in the partnership that, taken together with the sum of the amounts of committed capital in the partnership of any of that partner's *associates (other than associates to whom subsection (4B) applies), exceeds 30% of the partnership's committed capital.
 (4B) This subsection applies to:
 (a) an *ADI; or
 (b) a *life insurance company; or
 (c) a public authority:
 (i) that is constituted by a law of a State or internal Territory; and
 (ii) that carries on life insurance business within the meaning of section 11 of the Life Insurance Act 1995; or
 (d) a widely‑held complying superannuation fund within the meaning of section 4A of the Pooled Development Funds Act 1992; or
 (e) a *widely held foreign venture capital fund of funds.