Document ID: chunk:federal_register_of_legislation:F2015L00517:body:0:p1
Version: federal_register_of_legislation:F2015L00517
Segment Type: other
Provision Reference: 
Character Range: 0–2929

NOTICE OF APPROVAL
COMMONWEALTH OF AUSTRALIA
Higher Education Support Act 2003
VET Provider Approval No 3 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 (the Act).

I, Maryann Quagliata, a delegate of the Minister for Education and Training
   (a)      approve the application of Workers Educational Association – Hunter (ACN:  062 580 634 ABN: 61 062 580 634) as a VET provider in accordance with subclause 6(1) of Schedule 1A to the Act; and
   (b)      imposes conditions on the approval of Workers Educational Association - Hunter as a VET Provider in accordance with subclause 12A(1) of Schedule 1A to the Act; and
   (c)       note that this approval decides the application of Workers Educational Association - Hunter as required by paragraph 11(1)(a) of Schedule 1A to the Act; and
   (d)      hereby give Workers Educational Association - Hunter written notice of my approval as required by paragraph 11(1)(b) of Schedule 1A to the Act.

Conditions
     1. Workers Educational Association - Hunter must maintain adequate liquidity levels as measured by a current ratio of 1.0 or above for the period of its approval.
      2. Workers Educational Association - Hunter must maintain a positive equity position for the period of its approval.
      3. Workers Educational Association - Hunter 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. Workers Educational Association - Hunter 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. Workers Educational Association - Hunter 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 30 June each year for the period of its approval.
      6. Workers Educational Association - Hunter must, in writing, advise the Department responsible for administering the Higher Education Support Act 2003 of any events affecting Workers Educational Association - Hunter or a related entity that may significantly affect the capacity of Workers Educational Association - Hunter to meet the VET 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. Workers Educational Association - Hunter must inform the Department responsible for administering the