Higher Education Provider Approval No. 3 of 2018 (Cth)

NOTICE OF APPROVAL

COMMONWEALTH OF AUSTRALIA

Higher Education Support Act 2003

Higher Education Provider Approval No. 3 of 2018

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, Drew Menzies-McVey, a delegate of the Minister for Education and Training 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 Higher Education Leadership Institute Pty Ltd (ABN: 71 606 961 451, ACN: 606 961 451) as a higher education provider in accordance with section 16-25 of the Act;

(b)impose conditions on the approval of Higher Education Leadership Institute Pty Ltd as a higher education provider in accordance with paragraph 16-60 of the Act;

(c)note that this approval decides the application of Higher Education Leadership Institute Pty Ltd as required by paragraph 16-50 (1a) of the Act; and

(d)hereby give Higher Education Leadership Institute Pty Ltd written notice of my approval as required by paragraph 16-50 (1b) of the Act.

Conditions

1. Higher Education Leadership Institute Pty Ltd must maintain adequate liquidity levels as measured by a current ratio of 1.0 or above for the period of its approval.

1. Higher Education Leadership Institute Pty Ltd must maintain a positive equity position for the period of its approval.

1. Higher Education Leadership Institute Pty Ltd must not provide any new guarantees or loans to its directors or related entities that could have a material effect on its finances.  

1. Higher Education Leadership Institute 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.

1. Higher Education Leadership Institute Pty Ltd must, on an annual basis for the period of its approval, by no later than 31 December each year, provide the department responsible for administering the Higher Education Support Act 2003 with: 

a)   a financial statement that complies with section 19-10 of the Higher Education Support Act 2003; and 

b)   a declaration by an external and independent public accountant or qualified auditor that Higher Education Leadership Institute Pty Ltd has, as at the date of the declaration, complied with all statutory obligations relating to the lodgement and payment of:

§company tax;

§goods and services tax;

§pay-as-you-go withholding tax for employees;

§payroll tax;

§superannuation guarantee for employees; and

§other withholding tax.

1. Higher Education Leadership Institute Pty Ltd must, in writing, advise the department responsible for administering the Higher Education Support Act 2003 of any events affecting Higher Education Leadership Institute Pty Ltd or a related entity that may significantly affect the capacity of Higher Education Leadership Institute Pty Ltd to meet the 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.

1. Higher Education Leadership Institute Pty Ltd must inform the department responsible for administering the Higher Education Support Act 2003 in writing of changes to directors, company structure and/or its constitution for the period of its approval. The written advice must be provided within 10 working days of the event occurring.

1. Higher Education Leadership Institute Pty Ltd must, as soon as practicable, advise the department responsible for administering the Higher Education Support Act 2003 of any regulatory activity undertaken or being undertaken by the Tertiary Education Quality and Standards Authority or any other regulatory body which may impact upon its operations for the period of its approval.

1. Higher Education Leadership Institute Pty Ltd must, as soon as practicable, advise the department responsible for administering the Higher Education Support Act 2003 of any regulatory activity that has been or is being undertaken in relation to Australian Consumer Law and/or fair trading laws for the period of its approval.

10. Higher Education Leadership Institute Pty Ltd must report student data into HEIMS monthly for two years from the date of approval.

11. Higher Education Leadership Institute Pty Ltd must, on an annual basis for the period in which a Deed of Guarantee exists with Peter J. Ryan & Associates Pty Ltd, by no later than 31 December each year, provide the department responsible for administering the Higher Education Support Act 2003 with financial statements for Peter J. Ryan & Associates Pty Ltd (ACN 072 638 058).

In accordance with section 16-55 of the Act and section 12 of the Legislation Act 2003 this notice of approval commences on the day after it is registered on the Federal Register of Legislation.

Date 18 December 2018

Drew Menzies-McVey
Branch Manager
HELP and Provider Integrity Branch

Delegate of the Minister for Education and Training