Document ID: chunk:federal_register_of_legislation:F2014L01456:body:0:p1
Version: federal_register_of_legislation:F2014L01456
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NOTICE OF APPROVAL

COMMONWEALTH OF AUSTRALIA

Higher Education Support Act 2003

VET Provider Approval No 35 of 2014

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 (the Act).

I, Alison Cleary, a delegate of the Minister for Education
      (a)           approve the application of The Malka Group Pty. Ltd. (ACN: 111 581 107  ABN: 57 111 581 107) as a VET provider in accordance with subclause 6(1) of Schedule 1A to the Act; and
      (b)          impose conditions on the approval of The Malka Group Pty Ltd in accordance with subclause 12A(1) of Schedule 1A to the Act; and
      (c)           note that this approval decides the application of The Malka Group Pty. Ltd. as required by paragraph 11(1)(a) of Schedule 1A to the Act; and
      (d)          hereby give The Malka Group Pty. Ltd. written notice of my approval as required by paragraph 11(1)(b) of Schedule 1A to the Act.

Conditions

       1. The Malka Group Pty Ltd will maintain an adequate level of quality;

       2. The Malka Group Pty Ltd will advise the department the outcome of any compliance activity undertaken by ASQA;

       3. The Malka Group Pty Ltd will maintain adequate liquidity levels as measured by a current ratio of 1.0 or above;

       4. The Malka Group Pty Ltd will maintain a positive equity position at all times;

       5. The Malka Group 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;

       6. The Malka Group Pty Ltd will 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 and only in accordance with the provisions of this Undertaking;

       7. The Malka Group Pty Ltd will provide the Department with all required financial information as specified in the Financial Viability Instructions, on an annual basis and no later than 31 December each year;

       8. The Malka Group Pty Ltd will, in writing, advise the Department of any events affecting The Malka Group Pty Ltd or a related entity that may significantly affect The Malka Group Pty Ltd's capacity to meet the VET quality and accountability requirements under the Act. The written advice will be provided at the time the event occurs;

       9. The Malka Group Pty Ltd will inform the Department in writing of changes to directors, company structure and/or its constitution at the time any changes occur; and

      10. The Malka Group Pty Ltd will not include in VET units of study, any units of competency that