To transfer its registration, an Aboriginal and Torres Strait Islander corporation must lodge an application with the Registrar together with:
(a) a copy of the special resolution that resolves to change the corporation's registration to a registration under the law of the Commonwealth, the State or the Territory concerned; and
(b) a statement signed by the directors of the corporation that in their opinion the corporation's creditors are not likely to be materially prejudiced by the change and that sets out their reasons for that opinion.