Section 69
Voluntary deregistration
The management company of a registered scheme may lodge an application for deregistration of the scheme with the Registrar.
(2)
The management company may only apply for deregistration if the scheme did not meet the minimum requirement of the interest holders as specified in the prospectus or product disclosure statement and all the interest holders agree that the scheme shall be deregistered.
(3)
If the Registrar is satisfied that the application complies with subsection (2), the Registrar shall publish the notice of the proposed
Interest Schemes
77
deregistration in the website of the Commission and a copy of the notice shall be given to the management company and the trustees.
(4)
After the lapse of seven days from the date of the publication of the notice on the website, the Registrar shall deregister the scheme and the scheme shall be deemed to have been dissolved.