(1) The Minister may:
(a) approve the proposal; or
(b) refuse the application.
(2) The Minister must not approve the proposal unless:
(a) the new body is recognised by the State Minister under the law of the State in which the non - systemic school or the schools in the approved school system are situated (if that law requires the new body to be recognised); and
(b) the school, or the schools in the system, are not conducted for profit; and
(c) if the application relates to a non - systemic school--the new body is a body corporate; and
(d) the agreement made by the new body with the Commonwealth as mentioned in subsection 30(1) provides that the new body agrees to fulfil the obligations (if any) of the existing authority under this Act or the former Act that have not been fulfilled in respect of the school or of the schools in the system.