Document ID: chunk:federal_register_of_legislation:F2015L00374:body:0:p1
Version: federal_register_of_legislation:F2015L00374
Segment Type: other
Provision Reference: 
Character Range: 0–2723

NOTICE OF APPROVAL
COMMONWEALTH OF AUSTRALIA
Higher Education Support Act 2003
VET Provider Approval No 1 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 ASH Pty. Ltd. (ACN:  060 542 789 ABN: 76 060 542 789) as a VET provider in accordance with subclause 6(1) of Schedule 1A to the Act; and
   (b)      imposes conditions on the approval of ASH 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 ASH Pty. Ltd. as required by paragraph 11(1)(a) of Schedule 1A to the Act; and
   (d)      hereby give ASH Pty. Ltd. written notice of my approval as required by paragraph 11(1)(b) of Schedule 1A to the Act.

Conditions
    i. ASH Pty. Ltd. must maintain adequate liquidity levels as measured by a current ratio of 1.0 or above for the period of its approval.
ii. ASH Pty. Ltd. must maintain a positive equity position for the period of its approval.
    iii. ASH Pty. Ltd. must 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.
    iv. ASH 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.
    v. ASH Pty. Ltd. must provide the department responsible for administering the Act 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.
    vi. ASH Pty. Ltd. must, in writing, advise the department responsible for administering the Act of any events affecting ASH Pty. Ltd. or a related entity that may significantly affect the capacity of ASH Pty. Ltd. 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 occurring.
    vii. ASH Pty. Ltd. must inform the department responsible for administering the Act in writing of changes to directors, company structure and/or its constitution for the period of its approval. The written advice must be provided within 10 working days of the event occurring.
    viii. ASH