Document ID: chunk:federal_register_of_legislation:F2020L01662:body:0:p1
Version: federal_register_of_legislation:F2020L01662
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NOTICE OF APPROVAL
COMMONWEALTH OF AUSTRALIA
Higher Education Support Act 2003
Higher Education Provider Approval No 4 of 2020

Approval under section 16-25, decision under paragraph 16-50(1a), and Notice of Approval under paragraph 16-50(1b) to the Higher Education Support Act 2003 (the Act).

I, Damian Coburn, a delegate of the Minister for Education for the purposes of 16-25, 16-50 and 16-60 of the Higher Education Support Act 2003 (the Act):

   (a)      approve the application of the Australian Chiropractic College Limited (ABN: 84 612 258 072, ACN: 612 258 072) as a higher education provider in accordance with section 16-25 of the Act;
   (b)      impose conditions on the approval of the Australian Chiropractic College Limited as a higher education provider in accordance with paragraph 16-60 of the Act;
   (c)       note that this approval decides the application of the Australian Chiropractic College Limited as required by paragraph 16-50 (1a) of the Act; and
   (d)      hereby give the Australian Chiropractic College Limited written notice of my approval as required by paragraph 16-50 (1b) of the Act.

Conditions
    1. Australian Chiropractic College Limited must maintain adequate liquidity levels as measured by a current ratio of 1.0 or above for the period of its approval.

  2.       Australian Chiropractic College Limited must maintain a positive equity position for the period of its approval.

  3.       Australian Chiropractic College Limited 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 Chiropractic College Limited 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 Chiropractic College Limited 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: Applicants and Providers of FEE-HELP on an annual basis by no later than 31 December each year for the period of its approval.

  6.       Australian Chiropractic College Limited must provide the department responsible for administering the Higher Education Support Act 2003 with audited financial statements, prepared in accordance with requirements of Financial Viability Instructions: Applicants and Providers of FEE-HELP, in respect of the Australian Chiropractic Investment Holdings Pty Ltd as trustee for the Australian Chiropractic College Investment Trust on an annual basis by no later than 31 December each year for the period of its approval, or so long as Australian Chiropractic Investment Holdings Pty Ltd as trustee for the Australian Chiropractic College Investment Trust remains in