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Pooled Development Funds Act 1992
In force
Administered by
Department of Industry, Science and Resources
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C2024C00541 C27
14 October 2024
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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
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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
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Part 4—Regulation of PDFs
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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
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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
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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
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Part 7—Offences relating to PDFs
51 Offences—failure to comply with directions or requirements
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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
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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
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Part 10—Miscellaneous
70 Board to provide information about PDFs on request
71 Secrecy
76 Regulations
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Endnotes
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
