Pooled Development Funds Act 1992 (Cth)

Pooled Development Funds Act 1992

No. 100, 1992

Compilation No. 27

Compilation date: 14 October 2024

Includes amendments: Act No. 39, 2024

About this compilation

This compilation

This is a compilation of the Pooled Development Funds Act 1992 that shows the text of the law as amended and in force on 14 October 2024 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents 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 Endnotes Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history