(1) ASIC must register the scheme within 14 days of lodgment of the application, unless it appears to ASIC that:

(c)

the application does not comply with section 601EA; or

(d)

the proposed responsible entity does not meet the requirements of section 601FA; or

(e)

the scheme's constitution does not meet the requirements of sections 601GA and 601GB; or

(f)

the scheme's compliance plan does not meet the requirements of section 601HA; or

(g)

the copy of the compliance plan lodged with the application is not signed as required by section 601HC; or

(h)

arrangements are not in place that will satisfy the requirements of section 601HG in relation to audit of compliance with the plan.

(2) If ASIC registers the scheme, ASIC must give it an ARSN. (3) ASIC must keep a record of the registration of the scheme. (4) For the purpose of determining whether subsection (1) is satisfied in relation to the scheme:

(a)

references in Parts 5C.3, 5C.4 and 5C.5 to a registered scheme are taken to include a reference to the scheme; and

(b)

references in those Parts to the responsible entity of a registered scheme are taken to include a reference to the proposed responsible entity of the scheme.