Document ID: chunk:federal_register_of_legislation:F2017C01061:body:0:p2
Version: federal_register_of_legislation:F2017C01061
Segment Type: other
Provision Reference: 
Character Range: 2648–5457

in accordance with section 16-25 of the Act; and
   (b) impose conditions on the approval of Australian College of Nursing Ltd as a higher education provider in accordance with paragraph 16-60 of the Act;
   (c) note that this approval decides the application of Australian College of Nursing Ltd as required by paragraph 16-50 (1a) of the Act; and
   (d) hereby give Australian College of Nursing Ltd written notice of my approval as required by paragraph 16-50 (1b) of the Act.

Conditions
  1. Australian College of Nursing Ltd must maintain adequate liquidity levels as measured by a current ratio of 1.0 or above for the period of its approval.
  2. Australian College of Nursing Ltd must maintain a positive equity position for the period of its approval.
  3. Australian College of Nursing Ltd will not provide any new guarantees or loans to its directors or related entities that could have a material effect on its finances.
  4. Australian College of Nursing 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. Australian College of Nursing 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.
  6. Australian College of Nursing Ltd must, in writing, advise the department responsible for administering the Act of any events affecting Australian College of Nursing Ltd or a related entity that may significantly affect the capacity of Australian College of Nursing Ltd to meet the 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.
  7. Australian College of Nursing 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.
  8. Australian College of Nursing Ltd must, as soon as practicable advise the department responsible for administering the Act of any regulatory activity that has been or is being undertaken in relation to Australian Consumer Law and/or fair trading laws for the period of its approval.
  9. Australian College of Nursing Ltd must, as soon as practicable,  advise the department responsible for administering the Act of any regulatory activity that has been or