(1) A * capital gain or * capital loss is disregarded if it is made from a * CGT event happening in relation to a * CGT asset that is * venture capital equity where the asset:
(a) was * acquired by a * venture capital entity; and
(b) at the time of the CGT event:
(i) was owned by that entity; and
(ii) had been owned by that entity for at least 12 months.
(2) The * venture capital entity must be registered under Part 7A of the Pooled Development Funds Act 1992 at the time of the * CGT event.