Document ID: chunk:federal_register_of_legislation:F2015L02105:body:0:p1
Version: federal_register_of_legislation:F2015L02105
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NOTICE OF APPROVAL

COMMONWEALTH OF AUSTRALIA

Higher Education Support Act 2003

VET Provider Approval No 24 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 House of Learning Pty Ltd
      (ACN: 144 869 634 ABN: 21 144 869 634) as a VET provider in accordance with subclause 6(1) of Schedule 1A to HESA; and
      (b)           impose conditions on the approval of House of Learning Pty Ltd in accordance with subclause 11(1)(a) of Schedule 1A to HESA; and
      (c)           note that this approval decides the application of House of Learning Pty Ltd as required by paragraph 11(1)(a) of Schedule 1A to HESA; and
      (d)          hereby give House of Learning Pty Ltd written notice of my approval as required by paragraph 11(1)(b) of Schedule 1A to HESA.

Conditions
     1. House of Learning 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. House of Learning Pty Ltd must maintain a positive equity position for the period of its approval.
     3. House of Learning 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.
     4. House of Learning 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. House of Learning 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 31 December each year for the period of its approval.
     6. House of Learning Pty Ltd must provide the Department responsible for administering the
        Higher Education Support Act 2003 with a copy of the audited financial statements of Simonds Group Limited for the year ending 30 June each year. These statements must be provided no later than six months following the close of each financial year for the period of House of Learning Pty Ltd 's approval.
     7. House of Learning Pty Ltd must, in writing, advise the Department responsible for administering the Higher Education Support Act 2003 of any events affecting House of Learning Pty Ltd or a related