Document ID: chunk:federal_register_of_legislation:F2015L00516:body:0:p1
Version: federal_register_of_legislation:F2015L00516
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NOTICE OF APPROVAL
COMMONWEALTH OF AUSTRALIA
Higher Education Support Act 2003
VET Provider Approval No 10 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 (the Act).

I, Maryann Quagliata, a delegate of the Minister for Education and Training
    (a)           approve the application of Training and Education Programs Australia Pty Ltd (ACN: 145 751 962 ABN: 80 145 751 962) as a VET provider in accordance with subclause 6(1) of Schedule 1A to the Act; and
    (b)           imposes conditions on the approval of Training and Education Programs Australia Pty Ltd as a VET Provider in accordance with subclause 12A(1) of Schedule 1A to the Act; and
    (c)            note that this approval decides the application of Training and Education Programs Australia Pty Ltd as required by paragraph 11(1)(a) of Schedule 1A to the Act; and
    (d)           hereby give Training and Education Programs Australia Pty Ltd written notice of my approval as required by paragraph 11(1)(b) of Schedule 1A to the Act.

   Conditions

     1. Training and Education Programs Australia 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. Training and Education Programs Australia Pty Ltd must maintain a positive equity position for the period of its approval.

     3. Training and Education Programs Australia Pty Ltd must not declare or pay any dividends to its shareholders where such an action is likely to have a material impact on its ongoing financial viability for the period of its approval.

     4. Training and Education Programs Australia 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. Training and Education Programs Australia 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 30 June each year for the period of its approval.

     6. Training and Education Programs Australia Pty Ltd must, in writing, advise the Department responsible for administering the Higher Education Support Act 2003 of any events affecting Training and Education Programs Australia Pty Ltd or a related entity that may significantly affect the capacity of Training and Education Programs Australia Pty Ltd to meet the VET quality and accountability requirements under the Higher Education Support Act 2003 for the period