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Venture Capital Fund Act 2019

Preliminary provisions

4: Outline of Act

You could also call this:

"What the Venture Capital Fund Act is About"

Illustration for Venture Capital Fund Act 2019

This Act does several things. It sets up the Venture Capital Fund, which is called the VCF for short. You will see the VCF mentioned throughout this Act. The Act also explains how money goes into and out of the VCF. It says who manages the VCF and how they invest the money. The Guardians of New Zealand Superannuation are in charge of the VCF. They have to invest the money in New Zealand's venture capital markets. The Minister can also give them directions about the VCF. The Act covers other things about the VCF too.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS210791.

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3: Purpose of Act, or

"This law is about creating and managing a Venture Capital Fund."

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5: Interpretation, or

"What special words mean in the Venture Capital Fund Act 2019"

4Outline of Act

  1. This Act—

  2. establishes the Venture Capital Fund (the VCF):
    1. provides for payments into and out of the VCF:
      1. provides for the Guardians of New Zealand Superannuation to manage and administer the VCF:
        1. requires the Guardians to invest the VCF in New Zealand’s venture capital markets:
          1. empowers the Minister to give certain directions to the Guardians in respect of the VCF:
            1. provides for other matters relating to the VCF.