Document ID: chunk:federal_register_of_legislation:F2014L01578:body:0:p2
Version: federal_register_of_legislation:F2014L01578
Segment Type: other
Provision Reference: 
Character Range: 2679–4854

income and expenses and budget forecasts;
    4.              MHM Higher Education Pty Ltd will receive payments for FEE-HELP in arrears for the first 36 months after being approved as a Higher Education provider (ie lump sum payments will be made based on actual student liabilities reported in HEIMS after each census date).
    5.              MHM Higher Education Pty Ltd must not pay  any dividends  for  a period of at least 36 months after being approved as a Higher Education provider and until such time as retained earnings are positive;
    6.              MHM Higher Education Pty Ltd must not provide any new guarantees or loans to its directors, related entities, related persons or employees.
    7.              MHM Higher Education Pty Ltd must not offer its assets as security for the benefit of any other person or entity including related entities except as a consequence of any commercial loan arrangements with a recognised financial institution.
    8.              MHM Higher Education Pty Ltd must inform the Department in writing of changes to directors, company structure and/or its constitution at the time any changes occur.
    9.              MHM Higher Education Pty Ltd will provide the Department with all required financial information as specified in the Financial Viability Instructions, on an annual basis and no later than 31 December each year.

Conditions 1 to 4 will remain in place for a period of 36 months from the date of commencement of the notice of approval. Condition 5 will remain in place for a period of at least 36 months from the date of commencement of the notice of approval and continue thereafter until such time as retained earnings are positive.

Conditions 6 to 9 will remain in place for such time as MHM Higher Education Pty Ltd continues to be an approved FEE-HELP provider.

In accordance with paragraph 16‑55(2) of the Act this Notice of Approval commences on the day after it is registered on the Federal Register of Legislative Instruments.

Dated this ……………………17th........................…. day of ………….November.....……………………….. 2014

Alison Cleary
A/g Branch Manager
Delegate of the Minister for Education