Venture Capital Act 2002
21‑25 Revocation at discretion of Indust21‑25 Revocation at discretion of Industry Innovation and Science Australia
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21‑25 Revocation at discretion of Industry Innovation and Science Australia
(1) Subject to this section, *Industry Innovation and Science Australia may revoke an *entity’s registration under this Part if Industry Innovation and Science Australia is satisfied that the entity has failed to comply with section 21‑20. (2) As soon as practicable after revoking an *entity’s registration under this Part, *Industry Innovation and Science Australia must give the entity a notice that advises of the revocation and sets out *Industry Innovation and Science Australia’s reasons for deciding to revoke. (3) *Industry Innovation and Science Australia must not revoke a registration unless Industry Innovation and Science Australia: (a) by notice in writing given to the *entity, allows the entity at least 14 days after the notice is given in which to make written submissions to Industry Innovation and Science Australia about the matters specified in the notice that, in *Industry Innovation and Science Australia’s opinion, may constitute grounds for revocation; and (b) considers any such submissions.