Provisional registration eligibility requires collective investment schemes to meet governance and conduct safeguards before grant. Provisional registration requires applicants to show their schemes are collective investment schemes, that affairs are not conducted detrimentally to existing investors, that at least 50% of directors are independent (not associates of scheme operators), and that no connected person has prior registration. The Board may inspect schemes, books, records and recover inspection expenses, including auditor and appraising agency fees; failure to meet requirements can lead to rejection and winding up under regulation 73.