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Regarding Managed Investment Schemes, it is noted that A scheme must be registered with ASIC in any of the following situations: * It is promoted

Regarding Managed Investment Schemes, it is noted that "A scheme must be registered with ASIC in any of the following situations":

* It is promoted by a person who is in the business of promoting managed investment schemes

Could you please clarify, does "promoting managed investment schemes" refer to promotions that specifically identify the product as a "managed investment scheme"? Or is the promotion of something that would be defined as an MIS, without stating to the consumer that it is an MIS, constitute "promoting managed investment schemes"?

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