The Minister must not approve the proposal unless:
(a) if the application is made by the responsible body:
(i) the application is accompanied by evidence that the approved authority of the approved school system agrees to the school stopping being a member of the approved school system; or
(ii) the Minister has given notice to the approved authority of the approved school system in relation to the proposal; and
(b) the school is not conducted for profit; and
(c) the responsible body is a body corporate; and
(d) the responsible body has made a funding agreement with the Commonwealth for the earliest program year to which the proposal relates, and all later program years; and
(e) the funding agreement provides that the responsible body agrees to fulfil the obligations (if any) of the approved authority of the approved school system under this Act or the former Act in relation to the school that have not been fulfilled.