Other applications

The following information applies to both these partnerships unless stated:

• Early Stage Venture Capital Limited Partnership (ESVCLP)
• Venture Capital Limited Partnership (VCLP)

Applications may be made to ISA for decisions other than registration decisions, including to:

• allow a partner of a partnership's committed capital to exceed the 30% limit [ESVCLP only]
• extend the time for repayment of a permitted loan
• extend the time for the partnership to meet the registration requirements before making a revocation decision
• shorten the time period during which an investee business must satisfy the Australian location test
• determine that a requirement of the Australian location test does not apply to an investee business
• make a determination about whether the investee business's primary activity is not an ineligible activity
• make a private finding that a specified activity is a substantially novel application of technology
• approve an updated investment plan [ESVCLP only]
• revoke a partnership’s registration

Some of these applications must be in the form approved by Innovation and Science Australia, set out in Information Paper – Approved forms. For others no approved form is required.

An application for a partner to have committed capital that exceeds 30% of the ESVCLP’s total committed capital can be made by the relevant partner or the general partner of the ESVCLP. The application must be made using the online form as prescribed in Information Paper – Approved forms.

In considering this application, the Committee will have regard to the policy intent of the ESVCLP.

Further information, can be found in Information Paper – Exercise of s9-4(1) discretion.

It’s possible to apply to ISA for a private finding that a specified activity is a substantially novel application of technology. This application can be made by either:

• the business a private ruling will cover
• the general partner of a partnership

The application must be in the form set out in Information Paper – Approved forms, including the declaration required for that form

For more information on applying for such a finding refer to the Fintech - private finding application guidance.

Applications not required to be in the form approved by ISA must:

• be in writing
• be on appropriate letterhead
• be signed by the general partner or their authorised representative
• include the following declaration

I declare that:

• I am authorised to make the application in this letter and to sign and submit this declaration on behalf of the applicant.
• The information contained in this letter together with any statement attached and any further information or documentation subsequently provided to the Commonwealth in relation to this application is or will be – to the best of my knowledge – correct and complete. I also understand that the provision of false or misleading information or the making of a false or misleading statement to the Commonwealth is a serious offence.

The application may be provided electronically as a scanned copy of the signed original.