(1) An industry forum may prepare a voluntary industry code dealing with any matter provided for in this Act—
 

(a) on its own initiative; or 

 

(b) upon request by the Commission. 
 

(2) The voluntary industry code shall not be effective until it is registered by the Commission.

 

(3) The Commission may refuse registration of the voluntary industry code, under subsection (1), if the Commission is not satisfied that sufficient opportunity for public consultation has occurred in the development of the voluntary industry code by the industry forum.

 

(4) The Commission shall register a voluntary industry code if it is consistent with—
 

(a) the objects of this Act;

 

(b) any relevant instrument under this Act; and

 

(c) any provisions of this Act which are relevant to the particular matter or activity.
 

(5) The Commission shall either register or refuse registration of a voluntary industry code.

 

(6) If registration of a voluntary industry code is refused, then the Commission shall notify the relevant industry forum of its decision in writing and provide the reasons for it.

 

(7) If the Commission neither registers nor refuses to register a voluntary industry code within a period of thirty days from the date that the voluntary industry code was submitted for registration, the Commission is deemed to have refused the registration of the voluntary industry code unless the industry forum receives a written notice of registration of the voluntary industry code after that period.