Document ID: chunk:federal_register_of_legislation:C2024C00617:body:0:p10
Version: federal_register_of_legislation:C2024C00617
Segment Type: other
Provision Reference: 
Character Range: 25379–28423

a legislative instrument.

11‑10  Further information may be requested
  If *Industry Innovation and Science Australia needs further information to decide an application for registration under this Part, it may ask a *general partner to provide further information.

11‑15  Period within which application must be decided
 (1) Subject to this section, *Industry Innovation and Science Australia must decide an application for registration or conditional registration under this Part within 60 days after receiving it.
 (2) If *Industry Innovation and Science Australia thinks that it will take longer to decide the application, Industry Innovation and Science Australia may extend, by up to 60 days, the period for deciding it.
 (3) An extension must be made by written notice given to a *general partner within 60 days after *Industry Innovation and Science Australia receives the application.
 (4) If *Industry Innovation and Science Australia extends the period, Industry Innovation and Science Australia must decide the application within the extended period.

Division 13—Registration

Table of sections
13‑1 Registration
13‑5 Conditional registration
13‑10 When registration is in force
13‑15 An ESVCLP's approved investment plan
13‑20 Deciding whether investment plans are appropriate

13‑1  Registration
 (1) *Industry Innovation and Science Australia must register a partnership as a *VCLP under this Part if:
 (a) a *general partner has applied for registration as a VCLP; and
 (b) the application meets the requirements under section 11‑1; and
 (c) any further information requested under section 11‑10 has been provided; and
 (d) a general partner has notified Industry Innovation and Science Australia that the VCLP has sufficient funds to begin its investment program;
unless Industry Innovation and Science Australia is satisfied that the partnership:
 (e) does not meet the *registration requirements of a VCLP; or
 (f) has had a previous registration revoked under Division 17.
 (1A) *Industry Innovation and Science Australia must register a partnership as an *ESVCLP under this Part if:
 (a) a *general partner has applied for registration as an ESVCLP; and
 (b) the application meets the requirements under section 11‑1; and
 (c) Industry Innovation and Science Australia is satisfied that the partnership's investment plan (as set out in the application or that plan as since approved by Industry Innovation and Science Australia) is appropriate; and
Note: Section 13‑20 deals with deciding whether an investment plan is appropriate.
 (d) Industry Innovation and Science Australia is satisfied that the partnership has access to the skills and resources necessary to implement, and is reasonably likely to be able to implement, its investment plan; and
 (e) any further information requested under section 11‑10 has been provided; and
 (f) a general partner has notified Industry Innovation and Science Australia that the ESVCLP has sufficient funds to begin its investment program;
unless Industry Innovation and Science