Document ID: chunk:federal_register_of_legislation:F2021C00656:body:0:p3
Version: federal_register_of_legislation:F2021C00656
Segment Type: other
Provision Reference: 
Character Range: 5830–8610

with this instrument
       For subregulation 5.19C(6) of the Regulations, the requirements for an investment applying at any particular time are that the investment complies with all requirements under this instrument that are applicable at that time.
Note 1 Regulation 5.19C of the Regulations includes additional requirements for an investment to be a complying significant investment:
Note 2 The primary criteria for a Subclass 188 (Business Innovation and Investment (Provisional)) visa in the Significant Investor stream include a minimum total amount for the investment that is required to be made on or after the time of application to satisfy the criteria for grant of the visa (see subclause 188.252(1) of Schedule 2 to the Regulations).
Note 2A The primary criteria for a Subclass 188 (Business Innovation and Investment (Provisional)) visa in the Investor stream include a minimum total amount for the investment that is required to be made on or after the time of application to satisfy the criteria for grant of the visa—see Regulations, Schedule 2, subclause 188.244(2)(b)(ii).
Note 3 If an investment is based on one or more other investments, regulation 5.19C of the Regulations and this instrument apply to the other investment or other investments in the same way, to the extent practicable.

6 Value of required investments
       (1)The investment must include:
(a) at least 20% of the total investment in 1 or more venture capital funds in accordance with section 8; and
(b) at least 30% of the total investment in emerging companies investments in accordance with section 9.
       (2)Any remaining portion of the investment must be invested in any of the following:
(a) 1 or more venture capital funds in accordance with section 8;
(b) emerging companies investments in accordance with section 9.
(c) 1 or more balancing investments in accordance with section 10.

7 Timing of required investments
  The investment must be made on or after the time of application for the visa.

8 Venture capital fund investments
       General
       (1) Investments by the investor in a venture capital fund or funds must comply with the requirements of this section.
       Initial investment requirements
       (2) Between the time of application for the investor's visa, and the time that is 6 months after the visa is granted to the investor:
(a) the investor must enter into an agreement with the general partner of each of one or more venture capital funds committing the investor to make an investment in one or more venture capital funds of at least 20% of the total investment; and
(b) the amount of each investment in a venture capital fund must be held:
 (i) in escrow in favour of the general partner of the fund; or
 (ii) as security for a guarantee issued