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This is a Bill, not an Act. For current law, see the Acts databases.
New South Wales
Partnership Amendment (Venture
Capital) Bill 2007
Contents
Page
1 Name of Act 2
2 Commencement 2
3 Amendment of Partnership Act 1892 No 12 2
4 Consequential amendment of Partnership Regulation 2007 2
5 Repeal of Act 2
Schedule 1 Amendment of Partnership Act 1892 3
Schedule 2 Consequential amendment of Partnership Regulation 2007 5
I certify that this public bill, which originated in the Legislative Assembly, has
finally passed the Legislative Council and the Legislative Assembly of New
South Wales.
Clerk of the Legislative Assembly.
Legislative Assembly,
Sydney, , 2007
New South Wales
Partnership Amendment (Venture
Capital) Bill 2007
Act No , 2007
An Act to amend the Partnership Act 1892 to enable early stage venture capital
limited partnerships to be registered as incorporated limited partnerships under that
Act; and for other purposes.
I have examined this bill and find it to correspond in all respects with the bill as
finally passed by both Houses.
Assistant Speaker of the Legislative Assembly.
Clause 1 Partnership Amendment (Venture Capital) Bill 2007
The Legislature of New South Wales enacts:
1 Name of Act
This Act is the Partnership Amendment (Venture Capital) Act 2007.
2 Commencement
This Act commences on the date of assent to this Act.
3 Amendment of Partnership Act 1892 No 12
The Partnership Act 1892 is amended as set out in Schedule 1.
4 Consequential amendment of Partnership Regulation 2007
The Partnership Regulation 2007 is amended as set out in Schedule 2.
5 Repeal of Act
(1) This Act is repealed on the day following the day on which this Act
commences.
(2) The repeal of this Act does not, because of the operation of section 30
of the Interpretation Act 1987, affect any amendment made by this Act.
Page 2
Partnership Amendment (Venture Capital) Bill 2007
Amendment of Partnership Act 1892 Schedule 1
Schedule 1 Amendment of Partnership Act 1892
(Section 3)
[1] Section 53D Who may apply for registration?
Insert after section 53D (3) (a) (ii):
(iii) an ESVCLP within the meaning of that Act, or
[2] Section 54 Application for registration
Omit "VCLP or an AFOF" wherever occurring in section 54 (2) (j) and (k).
Insert instead "VCLP, AFOF or ESVCLP".
[3] Section 67A Limited partner not to take part in the management of
incorporated limited partnership
Omit "VCLP or an AFOF" from section 67A (3) (k).
Insert instead "VCLP, AFOF or ESVCLP".
[4] Section 73E Lodgment of certain documents with the Registrar
Omit "VCLP or an AFOF" wherever occurring in section 73E (1) and (3) (a).
Insert instead "VCLP, AFOF or ESVCLP".
[5] Schedule 1 Winding up of incorporated limited partnerships
Omit "VCLP or an AFOF" from clause 3 (3) (a).
Insert instead "VCLP, AFOF or ESVCLP".
[6] Schedule 2 Savings, transitional and other provisions
Insert before clause 1:
Part 1 General
[7] Schedule 2, clause 1
Insert at the end of clause 1 (1):
Partnership Amendment (Venture Capital) Act 2007
Page 3
Partnership Amendment (Venture Capital) Bill 2007
Schedule 1 Amendment of Partnership Act 1892
[8] Schedule 2, Part 2, heading
Insert before clause 2:
Part 2 Provisions consequent on enactment of
Partnership Amendment (Venture Capital
Funds) Act 2004
[9] Schedule 2, Part 3
Insert after clause 2:
Part 3 Provisions consequent on enactment of
Partnership Amendment (Venture Capital)
Act 2007
3 Applications for registration of ESVCLPs or proposed ESVCLPs
made before amendments commence
(1) The provisions of this Act (as amended by the amending Act)
extend to any application for the registration of an ESVCLP or
proposed ESVCLP as an incorporated limited partnership that
was made on or after the day on which the Bill for the amending
Act was first introduced into Parliament.
(2) In this clause:
amending Act means the Partnership Amendment (Venture
Capital) Act 2007.
ESVCLP has the same meaning as in the Venture Capital Act
2002 of the Commonwealth.
Page 4
Partnership Amendment (Venture Capital) Bill 2007
Consequential amendment of Partnership Regulation 2007 Schedule 2
Schedule 2 Consequential amendment of
Partnership Regulation 2007
(Section 4)
Schedule 2 Fees
Omit "VCLP or an AFOF" wherever occurring in items 6 and 8.
Insert instead "VCLP, AFOF or ESVCLP".
Page 5
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