Document ID: chunk:federal_register_of_legislation:F2015L01347:body:0:p1
Version: federal_register_of_legislation:F2015L01347
Segment Type: other
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Character Range: 0–2926

NOTICE OF APPROVAL
COMMONWEALTH OF AUSTRALIA
Higher Education Support Act 2003
VET Provider Approval No 16 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, Maryann Quagliata, a delegate of the Minister for Education and Training
   (a)      approve the application of St George & Sutherland Community College Incorporated (ABN: 89 753 440 576) as a VET provider in accordance with subclause 6(1) of Schedule 1A to HESA; and
   (b)      imposes conditions on the approval of St George & Sutherland Community College Incorporated as a VET Provider in accordance with subclause 12A(1) of Schedule 1A to HESA; and
   (c)       note that this approval decides the application of St George & Sutherland Community College Incorporated  as required by paragraph 11(1)(a) of Schedule 1A to HESA; and
   (d)      hereby give St George & Sutherland Community College Incorporated written notice of my approval as required by paragraph 11(1)(b) of Schedule 1A to HESA.

Conditions
    1. St George & Sutherland Community College Incorporated must maintain adequate liquidity levels as measured by a current ratio of 1.0 or above for the period of its approval.
     2. St George & Sutherland Community College Incorporated must maintain a positive equity position for the period of its approval.
     3. St George & Sutherland Community College Incorporated 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. St George & Sutherland Community College Incorporated 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. St George & Sutherland Community College Incorporated 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 30 June each year for the period of its approval.
     6. St George & Sutherland Community College Incorporated must, in writing, advise the Department responsible for administering the Higher Education Support Act 2003 of any events affecting St George & Sutherland Community College Incorporated or a related entity that may significantly affect the capacity of St George & Sutherland Community College Incorporated to meet the VET quality and accountability requirements under the Act for the period of its approval. The written advice must be provided within 10 working days of the event