Document ID: chunk:federal_register_of_legislation:F2023C00945:reg:111
Version: federal_register_of_legislation:F2023C00945
Segment Type: reg
Provision Reference: reg 111
Character Range: 80142–81439

111  Other events
 (1) An approved course provider must give written notice to the Secretary of any of the following events within 24 hours of the event occurring:
 (a) the provider defaults in relation to a student;
 (b) notice is served on the provider, or proceedings are taken, to:
 (i) cancel the provider's incorporation or registration under the Corporations Act 2001 or similar legislation; or
 (ii) dissolve the provider as a legal entity;
 (c) the provider comes under a form of external administration referred to in subsection 600H(2) of the Corporations Act 2001 or an equivalent arrangement;
 (d) the provider fails to comply with a statutory demand within the meaning of section 459F of the Corporations Act 2001;
 (e) the provider is unable to pay all of its debts when they become due;
 (f) proceedings are initiated for an order for the provider's winding up;
 (g) at a meeting of the provider, a resolution is made to wind up the provider.
 (2) If an approved course provider intends to default in relation to a student, the provider must give the Secretary written notice of the intention as soon as practicable.
Note: Section 66B of the VET Student Loans Act 2016 describes when an approved course provider defaults in relation to a student.

Subdivision C—Other information