But i would think that obtaining a FSL would necessarily open the Feds and the MBF up to a far higher level of scrutiny than has been applied in the past. That may prove interesting.
Instead of "thinking" why don't you ring up the MBF and ask what effect having a proper FSL will have? If they say anything other than didly-squat, Na Da, nil, apart from being a truly independent body, as the AFAP set it up to be in the 60s, then I'd be very surprised.