VENTURE CAPITAL ACT 2002 No. 137, 2002 - SECT 11.1 Application for registration

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VENTURE CAPITAL ACT 2002 No. 137, 2002 - SECT 11.1

Application for registration

(1): A ^*general partner of a ^*limited partnership may apply, in the ^*form approved by the PDF Board, to the ^*PDF Board for registration of the partnership as a ^*VCLP or an ^*AFOF under this Part.
(2): An application must be in writing, and must include the following information:

(a): the name and residency status of, and the relevant qualifications and experience of, each ^*general partner;
(b): the name, address and residency status of each ^*limited partner;
(c): for each general partner that is a ^*company—the address of the general partner's registered office;
(d): for each general partner who is an individual—the general partner's business address;
(e): the partnership's business address;
(f): a copy of the partnership agreement, which must:

(i): require partners to contribute their ^*committed capital as and when required under the agreement; and
(ii): prohibit the addition of new partners to the partnership except as provided for in the agreement; and
(iii): prohibit increases in the partnership's committed capital except as provided for in the agreement; and
(iv): confer on a general partner the right to require partners to contribute their committed capital to the partnership; and
(v): include a plan which outlines the partnership's future intended investment activities;

(g): any documents that were issued inviting investment in the partnership;
(h): the amount of each partner's committed capital in the partnership;
(i): in relation to each limited partner claiming to be tax exempt in his or her country of residence—details of the facts that qualify the partner to be tax exempt in his or her country of residence;
(j): if the application is an application for registration as a VCLP—a statement by a general partner as to whether the partnership meets the ^*registration requirements of a VCLP;
(k): if the application is an application for registration as an AFOF—a statement by a general partner as to whether the partnership meets the ^*registration requirements of an AFOF;
(l): such further information as the ^*PDF Board determines under section 11-5.

Note: Part 7.4 of the Criminal Code creates offences for making false and misleading statements, giving false or misleading information and producing false or misleading documents.

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