Document ID: chunk:federal_register_of_legislation:F2016L00010:body:0:p1
Version: federal_register_of_legislation:F2016L00010
Segment Type: other
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Character Range: 0–2827

NOTICE OF APPROVAL
COMMONWEALTH OF AUSTRALIA
Higher Education Support Act 2003
VET Provider Approval No 31 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 Aboriginal Centre for the Performing Arts Pty Ltd (ACN: 080 991 108 ABN: 55 080 991 108) as a VET provider in accordance with subclause 6(1) of Schedule 1A to HESA; and
   (b)      impose conditions on the approval of Aboriginal Centre for the Performing Arts Pty Ltd as a VET Provider in accordance with subclause 12A(1) of Schedule 1A to HESA; and
   (c)       note that this approval decides the application of Aboriginal Centre for the Performing Arts Pty Ltd as required by paragraph 11(1)(a) of Schedule 1A to HESA; and
   (d)      hereby give Aboriginal Centre for the Performing Arts Pty Ltd written notice of my approval as required by paragraph 11(1)(b) of Schedule 1A to HESA.

Conditions
      1. Aboriginal Centre for the Performing Arts 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. Aboriginal Centre for the Performing Arts Pty Ltd must maintain a positive equity position for the period of its approval.
      3. Aboriginal Centre for the Performing Arts Pty Ltd will 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. Aboriginal Centre for the Performing Arts 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. Aboriginal Centre for the Performing Arts 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. Aboriginal Centre for the Performing Arts Pty Ltd must, in writing, advise the Department responsible for administering the Higher Education Support Act 2003 of any events affecting Aboriginal Centre for the Performing Arts Pty Ltd or a related entity that may significantly affect the capacity of Aboriginal Centre for the Performing Arts Pty Ltd to meet the VET quality and accountability requirements under the Higher Education Support Act