SPECIFICATION OF ENTITIES 2016/074 (Paragraph 5.19E(6)(b))
Key Words: investor,188e,888e
Regulation 5.19E prescribes the requirements of a “complying entrepreneurial activity” for an applicant seeking to satisfy the primary criteria for a Subclass 188 (Business Innovation and Investment (Provisional)) visa in the Entrepreneur stream or a Subclass 888 (Business Innovation and Investment (Permanent)) visa in the Entrepreneur stream. In particular, subregulation 5.19E(3) requires that funding in relation to the activity is to be provided under one or more legally enforceable agreements with one or more entities covered by subregulation 5.19E(5) of the Regulations. This Instrument specifies the entities with which applicants can make legally enforceable agreements for the purposes of a “complying entrepreneurial activity”. The entities specified for the purposes of paragraph 5.19E(5)(b), pursuant to the power in paragraph 5.19E(6)(b), are: all agencies of the Commonwealth, a State or a Territory; bodies that undertake publicly funded research or innovation initiatives and are established under a law of the Commonwealth, a State or a Territory; venture capital limited partnerships and early stage venture capital limited partnerships registered or conditionally registered under Part 2 of the Venture Capital Act 2002; and higher education providers listed under Part 2-1 of the Higher Education Support Act 2003 as Table A or Table B providers.