188.246A
If the time of invitation to apply for the visa was on or after 1 July 2021, the requirements in subclauses (2), (3) and (4) are met.
The applicant:
has made a complying significant investment of at least AUD2,500,000; and
has a genuine intention to hold the complying significant investment for the whole of the visa period.
The funds used to make the complying significant investment mentioned in subclause (2) were accumulated from either or both of the following:
one or more qualifying businesses conducted by the applicant, the applicant’s spouse or de facto partner, or the applicant and the applicant’s spouse or de facto partner together;
eligible investment activities of the applicant, the applicant’s spouse or de facto partner, or the applicant and the applicant’s spouse or de facto partner together.
The applicant has given the Minister:
evidence that the complying significant investment mentioned in subclause (2) complies with the requirements set out in regulation 5.19C as in force at the time of application; and
a completed copy of approved form 1412, signed by the applicant and each other applicant aged at least 18.
Approved form 1412 is a deed of acknowledgement, undertaking and release, signed by each person mentioned in paragraph (b), under which they:
acknowledge that they are responsible for their financial and legal affairs; and
undertake not to bring an action against the Commonwealth in relation to any loss relating to the complying significant investment; and
release the Commonwealth from any liabilities in relation to any loss relating to the complying significant investment.
This Act’s bill:Explanatory statement
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