Document ID: chunk:federal_register_of_legislation:C2024C00617:body:0:p18
Version: federal_register_of_legislation:C2024C00617
Segment Type: other
Provision Reference: 
Character Range: 46553–49434

satisfied is a reasonable period; and
 (b) does not exceed 6 months.
 (3) The notice must:
 (a) state the matters that in *Industry Innovation and Science Australia's opinion, may constitute grounds for revocation; and
 (b) state the period, determined by Industry Innovation and Science Australia under subsection (2), within which the *investment registration requirements must be complied with; and
 (c) state that the *general partner may make written submissions to Industry Innovation and Science Australia about the matters in the notice within that period.
 (4) A *general partner may make submissions about the matters in the notice at any time during that period.
 (5) *Industry Innovation and Science Australia must revoke the registration if, after considering any submissions made under subsection (4), it is satisfied that, at the end of that period, the partnership does not meet the *investment registration requirements of a VCLP, the *investment registration requirements of an ESVCLP or the *investment registration requirements of an AFOF, as the case may be.
 (6) Subsection (5) does not apply if the registration is revoked under section 17‑10 within that period.

17‑5  Revoking registration for not meeting other registration requirements
 (1) If *Industry Innovation and Science Australia has reason to believe that:
 (a) a partnership registered as a *VCLP does not meet the *registration requirements of a VCLP that are not *investment registration requirements; or
 (ab) a partnership registered as an *ESVCLP does not meet the *registration requirements of an ESVCLP that are not *investment registration requirements; or
 (b) a partnership registered as an *AFOF does not meet the *registration requirements of an AFOF that are not *investment registration requirements;
it must notify a *general partner of the partnership, in writing, that it will revoke the registration if it is satisfied that, in 60 days time, the partnership does not meet the registration requirements of a VCLP, an ESVCLP or an AFOF, as the case may be.
 (2) The notice must:
 (a) state the matters that, in *Industry Innovation and Science Australia's opinion, may constitute grounds for revocation; and
 (b) state that the *general partner may apply for an extension of the 60 day period; and
 (c) state that the general partner may make written submissions to Industry Innovation and Science Australia about the matters in the notice within the 60 day period or that period as extended under subsection (4).
 (3) A *general partner may apply to *Industry Innovation and Science Australia, in the *form approved by Industry Innovation 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