Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The registration requirements of a VCLP , in relation to a * limited partnership, are that:
(a) the partnership was established by or under a law in force in, or in any part of:
(i) Australia; or
(ii) a foreign country in respect of which a double tax agreement (as defined in Part X of the Income Tax Assessment Act 1936 ) is in force that is an agreement of a kind referred to in subparagraph (b)(i), (ia), (ii), (iii), (iv) or (v) of that definition; and
(b) all of the partners who are * general partners are residents of a country referred to in paragraph (a); and
(c) under the partnership agreement the partnership is to remain in existence for a period of not less than 5 years and not more than 15 years; and
(d) the partnership's * committed capital is at least $10 million; and
(e) each investment that the partnership holds is:
(i) an * eligible venture capital investment; or
(ii) an investment in a company, in which the partnership owns one or more eligible venture capital investments, that would have been an eligible venture capital investment but for subsections 118-425(2) and (6) of the Income Tax Assessment Act 1997 ; or
(iii) an investment in a unit trust, in which the partnership owns one or more eligible venture capital investments, that would have been an eligible venture capital investment but for subsections 118-427(3) and (7) of the Income Tax Assessment Act 1997 ; and
(f) the partnership only carries on activities that are related to making * eligible venture capital investments, investments to which subparagraph (e)(ii) applies or investments to which subparagraph (e)(iii) applies; and
(g) every * debt interest that the partnership owns is, and continues to be, a * permitted loan.
(2) The requirements in paragraphs (1)(e), (f) and (g) are investment registration requirements .
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