21‑5 Registration as eligible venture ca21‑5 Registration as eligible venture capital investors

21‑5 Registration as eligible venture capital investors

(1) An *entity may apply to *Industry Innovation and Science Australia, in the *form approved by Industry Innovation and Science Australia, for registration under this Part as an *eligible venture capital investor. (2) An application must be given to *Industry Innovation and Science Australia within 30 days after the applicant enters into the contract to acquire its first *eligible venture capital investment after the commencement of this Act. (3) An application must be in writing, and must include the following information: (a) the applicant’s current residency status; (b) details of the facts that qualify the applicant as a *tax‑exempt foreign resident; (c) the address of the applicant’s registered office; (d) the name and address of the first *company or unit trust in which the applicant has invested or proposes to invest and the industry in which the company or unit trust operates; (e) the amount of the investment and the date on which it was or is to be made; (f) details of any other investments that the applicant holds in the company or unit trust that are not *eligible venture capital investments. (4) *Industry Innovation and Science Australia must register the applicant under this Part if Industry Innovation and Science Australia is satisfied that the information has been provided. (5) If *Industry Innovation and Science Australia registers an applicant under this Part, Industry Innovation and Science Australia must notify the applicant within 60 days after the application was made. (6) If *Industry Innovation and Science Australia does not register an applicant under this Part, Industry Innovation and Science Australia must: (a) notify the applicant within 60 days after the application was made; and (b) provide reasons for the decision.