Pooled Development Funds Act 1992

A venture capital entity may apply to the Board for registration under this Part.

An application must be given to the Board within 30 days after the venture capital entity makes its first investment in venture capital equity.

An application must be in writing, and must include the following information:

the entity’s current residency status;

details of the entity’s tax exempt status in its country of residence;

details of the facts that qualify the entity as a foreign superannuation fund;

the address of the entity’s registered office;

the name and address of the first resident investment vehicle in which it has invested or proposes to invest and the industry in which it operates;

the amount of the investment and the date on which it was or is to be made;

the total value of the assets of the resident investment vehicle (worked out as mentioned in subsection 118‑510(3) of the Income Tax Assessment Act 1997) before the investment;

details of other investments that do not constitute venture capital equity the entity holds in the resident investment vehicle;

if the entity is the general partner or managing partner of a limited partnership referred to in subparagraph 118‑515(2)(b)(ii) of the Income Tax Assessment Act 1997—details of the partner’s interests in the assets of the partnership.

The Board must decide to register the entity under this Part if the Board is satisfied that the information has been provided.

If the Board registers an applicant under this Part, the Board must notify the applicant within 45 days of the application being made.