98Approval of fidelity fund scheme—decision on

98 Approval of fidelity fund scheme—decision on application (1) If the Minister receives an application under section 96, the Minister must approve, or refuse to approve, the fidelity fund scheme. Note An approval may be given subject to conditions (see s 100). (2) The Minister may approve a fidelity fund scheme only if satisfied the scheme complies with the approval criteria.

(3) Before approving a fidelity fund scheme, the Minister may require changes to be made to the scheme to ensure that it complies with the approval criteria. (4) An approval is a notifiable instrument.