157ADRegistration of scheme by Chief Commissioner

#### 157AD Registration of scheme by Chief Commissioner 157AD Registration of scheme by Chief Commissioner > > (1) The Chief Commissioner may, on application, register a unit trust scheme if the Chief Commissioner is satisfied that— > > > > > (a) the unit trust scheme— > > > > > > > (i) is a wholesale unit trust scheme, or > > > > > > > (ii) will be a wholesale unit trust scheme within 12 months after the day on which the first units in the scheme are issued to a qualified investor (an imminent wholesale unit trust scheme), and > > > > > (b) registration is not being sought for a purpose of avoiding or reducing duty under this Act. > > > (2) The application must— > > > > > (a) be made by the responsible entity for the unit trust scheme, and > > > > > (b) be in a form approved by the Chief Commissioner, and > > > > > (c) include the information reasonably required by the Chief Commissioner, and > > > > > (d) be accompanied by the fee determined by the Chief Commissioner. > > > (3) Registration may be granted subject to conditions imposed by the Chief Commissioner. > > > (4) The Chief Commissioner may vary the conditions of registration for a unit trust scheme at any time by written notice given to the responsible entity for the scheme. > > > (5) It is a condition of registration of an imminent wholesale unit trust scheme that units are not issued in the scheme other than for the purposes of the scheme becoming a wholesale unit trust scheme. > > **s 157AD:** Ins 2023 No 26, Sch 1\[8\].