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NOTICE OF APPROVAL

COMMONWEALTH OF AUSTRALIA

Higher Education Support Act 2003

VET Provider Approval No 32 of 2015

Approval under subclause 6(1), decision under paragraph 11(1)(a), and notice of approval under paragraph 11(1)(b) of Schedule 1A to the Higher Education Support Act 2003 (HESA).

I, Shelley Owen, a delegate of the Minister for Education and Training
      (a)           approve the application of Australian College of Fitness and Bodywork Pty Ltd
      (ACN: 095 258 763  ABN: 23 095 258 763) as a VET provider in accordance with subclause 6(1) of Schedule 1A to HESA; and
      (b)           impose conditions on the approval of Australian College of Fitness and Bodywork Pty Ltd in accordance with subclause 11(1)(a) of Schedule 1A to HESA; and
      (c)           note that this approval decides the application of
      Australian College of Fitness and Bodywork Pty Ltd as required by paragraph 11(1)(a) of Schedule 1A to HESA; and
      (d)          hereby give Australian College of Fitness and Bodywork Pty Ltd written notice of my approval as required by paragraph 11(1)(b) of Schedule 1A to HESA.

Conditions
    1. Australian College of Fitness and Bodywork Pty Ltd must maintain adequate liquidity levels as measured by a current ratio of 1.0 or above for the period of its approval.
    2. Australian College of Fitness and Bodywork Pty Ltd must maintain a positive equity position for the period of its approval.
    3. Australian College of Fitness and Bodywork Pty Ltd will not provide any new guarantees or loans to its directors or related entities that could have a material effect on its finances for the period of its approval.
    4. Australian College of Fitness and Bodywork Pty Ltd must not offer its assets as security for the benefit of any other person or entity including associated entities except as a consequence of any commercial loan arrangements with a recognised financial institution for the period of its approval. Associated entity has the meaning given by section 50AAA of the Corporations Act 2001.
    5. Australian College of Fitness and Bodywork Pty Ltd must provide the Department responsible for administering the Higher Education Support Act 2003 with all required financial information as specified in the Financial Viability Instructions, on an annual basis by no later than 31 December each year for the period of its approval.
    6. Australian College of Fitness and Bodywork Pty Ltd must, in writing, advise the Department responsible for administering the Higher Education Support Act 2003 of any events affecting Australian College of Fitness and Bodywork Pty Ltd or a related entity that may significantly affect the capacity of Australian College of Fitness and Bodywork Pty Ltd to meet the VET quality and accountability requirements under the Act for the period of its approval. The