Technically, it is possible for an authorised representative to be appointed to provide any authorised financial service on behalf of a licensee.
Operating a registered scheme is a financial service and comes within this provision. However, under section 601FA of the Corporations Act 2001 the responsible entity of a registered MIS must hold an AFSL. Being an authorised representative would, obviously, not meet this requirement.
We have considerable experience in assisting product issuers to obtain AFSLs. Please let us know if we can be of further assistance.