Document ID: chunk:federal_register_of_legislation:C2024C00617:body:0:p19
Version: federal_register_of_legislation:C2024C00617
Segment Type: other
Provision Reference: 
Character Range: 49195–52099

and Science Australia, for an extension of the 60 day period.
 (4) *Industry Innovation and Science Australia may, for the purposes of paragraph (2)(c), extend, by up to 60 days, the period if it is satisfied that:
 (a) reasonable progress is being made towards meeting the requirements; and
 (b) the requirements will be met within the extended period.
 (5) A *general partner may make submissions about the matters in the notice at any time during:
 (a) the 60 day period; or
 (b) if the period was extended under subsection (4)—that extended period.
 (6) *Industry Innovation and Science Australia must revoke the registration if, after considering any submissions made under subsection (5), it is satisfied that:
 (a) at the end of the 60 day period; or
 (b) if the period was extended under subsection (4)—that extended period;
the partnership does not meet the *registration requirements of a VCLP, the *registration requirements of an ESVCLP or the *registration requirements of an AFOF, as the case may be.

17‑10  Revocation at discretion of Industry Innovation and Science Australia
 (1) Subject to subsection (2), *Industry Innovation and Science Australia may revoke a partnership's registration as a *VCLP, an *ESVCLP or an *AFOF under this Part if Industry Innovation and Science Australia is satisfied that the partnership has:
 (a) failed to lodge an annual return under section 15‑1; or
 (b) failed to lodge a quarterly return under section 15‑10; or
 (c) failed to provide any further information requested under section 15‑15; or
 (d) failed to provide any information requested under section 15‑20; or
 (e) during a 12 month period, received more than one notice under section 17‑1:
 (i) that related to a failure to meet the registration requirement set out in paragraph 9‑1(1)(e), 9‑3(1)(f) or 9‑5(1)(d) (whichever is applicable); and
 (ii) in relation to which the partnership's registration has not been revoked.
 (2) *Industry Innovation and Science Australia must not revoke the partnership's registration unless Industry Innovation and Science Australia:
 (a) by notice in writing given to a *general partner of the partnership, allows the general partner at least 28 days after the notice is given in which to make written submissions to Industry Innovation and Science Australia about the matters specified in the notice that, in Industry Innovation and Science Australia's opinion, may constitute grounds for revocation; and
 (b) considers any such submissions.

17‑15  Notice of revocation
  As soon as practicable after revoking a partnership's registration under section 17‑1, 17‑5 or 17‑10, *Industry Innovation and Science Australia must give a *general partner of the partnership a notice that advises of the revocation and sets out Industry Innovation and Science Australia's reasons for deciding to revoke.

17‑20  Date of effect of revocation
  The revocation takes