Document ID: chunk:federal_register_of_legislation:C2024C00617:body:0:p8
Version: federal_register_of_legislation:C2024C00617
Segment Type: other
Provision Reference: 
Character Range: 20168–22938

the *equity interests that the partnership owns in the company; and
 (ii) any debt interests that the partnership owns in the company that can be converted into equity interests in the company;
  is at least 10% of the sum of:
 (iii) all of the equity interests in the company; and
 (iv) all of the debt interests in the company that can be converted into equity interests in the company;
  and the company meets the requirements of subsections 118‑425(2) to (7) of the Income Tax Assessment Act 1997 in relation to the investments referred to in subparagraphs (i) and (ii); or
 (aa) it is a loan made to a unit trust and the sum of:
 (i) the *equity interests that the partnership owns in the unit trust; and
 (ii) any *debt interests that the partnership owns in the unit trust that can be converted into equity interests in the unit trust;
  is at least 10% of the sum of:
 (iii) all of the equity interests in the unit trust; and
 (iv) all of the debt interests in the unit trust that can be converted into equity interests in the unit trust;
  and the unit trust meets the requirements of subsections 118‑427(3) to (8) of the Income Tax Assessment Act 1997 in relation to the investments referred to in subparagraphs (i) and (ii); or
 (b) it is repaid within 6 months, or such longer period as *Industry Innovation and Science Australia allows under subsection (3).
 (2) A *general partner may apply to *Industry Innovation and Science Australia, in the *form approved by Industry Innovation and Science Australia, for Industry Innovation and Science Australia to allow a longer period for the purposes of paragraph (1)(b).
 (3) *Industry Innovation and Science Australia may, for the purposes of paragraph (1)(b), allow a longer period if Industry Innovation and Science Australia is satisfied that:
 (a) there are exceptional circumstances; and
 (b) the extended period is no longer than reasonably necessary.

Division 11—Application for registration

Table of sections
11‑1 Application for registration
11‑5 Determination of further information to be included in application
11‑10 Further information may be requested
11‑15 Period within which application must be decided

11‑1  Application for registration
 (1) A *general partner of a *limited partnership may apply, in the *form approved by Industry Innovation and Science Australia, to *Industry Innovation and Science Australia for registration of the partnership as a *VCLP, an *ESVCLP or an *AFOF under this Part.
 (2) An application must be in writing, and must include the following information:
 (a) the name and residency status of, and the relevant qualifications and experience of, each *general partner;
 (b) the name, address and residency status of each *limited partner;
 (c) for each general