Commonwealth Consolidated Acts

POOLED DEVELOPMENT FUNDS ACT 1992

TABLE OF PROVISIONS

           Long Title

   PART 1--PRELIMINARY

   1.      Short title  
   2.      Commencement  
   3.      Object of the Act  
   4.      Interpretation  
   4A.     Definition of widely - held complying superannuation fund  
   4B.     Application of the Criminal Code  

   PART 3--BECOMING--A PDF

   10.     How a company becomes a PDF  
   11.     Application for registration declaration  
   12.     Further information may be requested  
   13.     Period within which registration application to be decided  
   14.     Deciding a registration application  
   15.     Applicant to be notified of decision  
   16.     Board to publish notice of registration declaration in the Gazette  
   17.     A PDF's approved investment plan  
   18.     Conditions of registration declaration  

   PART 4--REGULATION--OF PDFS

           Division 1--Making investments

   19.     Investments to be in accordance with this Division  
   20.     First kind of allowed investment: acquiring shares  
   20A.    Second kind of allowed investment: acquiring non - transferable options  
   20B.    Third kind of allowed investment: lending money to existing investee companies  
   21.     Intended use by investee company of money invested by PDF  
   22.     Investee company must not be a PDF  
   23.     Primary activity of investee company must not be an excluded activity  
   24.     Limit on size of investee company  
   25.     PDF not to commit more than 30% of its committed capital to investee company  
   27.     Amount invested in investee company to be at least 10% of its paid - up capital  
   27A.    PDF to notify Board of initial investments  
   28.     Provisions relating to approvals by Board  
   28A.    Indirect investments  

           Division 2--Other provisions regulating the capital structure and activities of PDFs

   29.     PDF to carry on a business of making and holding PDF investments  
   30.     Restrictions on raising money etc.  
   31.     Limit on shareholding in a PDF  
   32.     Timetable for investing funds raised by PDF  
   32A.    PDFs may merge  

           Division 3--Board's powers to give directions

   33.     PDF to comply with directions in relation to its approved investment plan  
   34.     PDF to comply with directions if investee company's primary activity is an excluded activity  
   35.     PDF to comply with other directions  
   36.     Shareholders to comply with directions about shareholdings in PDFs  
   37.     Board to advise of reasons for giving directions  

           Division 4--Consequences of contravention of this Part

   38.     Acts in contravention of Part not invalid  

   PART 5--MONITORING--COMPLIANCE

   39.     Board to monitor compliance  
   40.     Board to consider compliance on receipt of annual return  
   41.     Annual return by PDF  
   42.     PDF to notify Board of events affecting information previously given  
   43.     Board may require certain persons to provide information or produce documents  
   44.     Board may request persons to provide information or produce documents  

   PART 6--REVOCATION--OF REGISTRATION DECLARATIONS

   45.     Automatic revocation if PDF is not an eligible corporation  
   46.     Revocation on application by PDF  
   47.     Revocation at discretion of Board  
   48.     Board to publish notice of revocations in the Gazette  
   49.     Company to notify its shareholders if it ceases to be a PDF  

   PART 7--OFFENCES--RELATING TO PDFS

   51.     Offences--failure to comply with directions or requirements  

   PART 7A--INVESTMENTS--BY VENTURE CAPITAL ENTITIES

   52A.    Registration of venture capital entities  
   52B.    Period within which application must be decided  
   52C.    Annual return by venture capital entities  
   52D.    Revocation at discretion of Board  

   PART 8--REVIEW--OF DECISIONS

   53.     Notification of certain decisions  
   54.     Notification of right to seek internal review  
   55.     Internal review of decisions  
   56.     Review of decisions by Administrative Review Tribunal  

   PART 10--MISCELLANEOUS

   70.     Board to provide information about PDFs on request  
   71.     Secrecy  
   76.     Regulations