Document ID: chunk:federal_register_of_legislation:F2024C00020:reg:14
Version: federal_register_of_legislation:F2024C00020
Segment Type: reg
Provision Reference: reg 14
Character Range: 33426–34985

14    Requirements that may amount to ceasing to provide a VET course of study

        (1)    The first body must, as soon as possible, give written notice of any of the following events (should they arise) to the first body's VET tuition assurance administrators and to the Secretary:

(a)    the first body fails to comply with a statutory demand within the meaning of section 459F of the Corporations Act 2001;
(b)    the first body is unable to pay all of its debts when they become due;
(c)    proceedings are initiated for an order for the first body's winding up;
(d)    a shareholder, member or director of the first body convenes a meeting to consider a resolution for the first body's winding up.

        (2)    If the Secretary becomes aware (whether under subsection (1) or otherwise) that any of the events described in that subsection have arisen, or may arise, in relation to the first body, then:
(a)    the first body must, within the period specified in writing by the Secretary, provide the Secretary with such information about the event that the Secretary reasonably requests in writing; and
(b)    the Secretary may, after considering any information provided by the first body under paragraph (a), declare in writing that, for the purposes of this Part, the first body has ceased to provide one or more specified VET courses of study; and
(c)    the Secretary must give a copy of the declaration to the first body and to the first body's VET tuition assurance administrators.

Division 5—Administrative and activation requirements