Higher Education Support Act 2003 - VET Provider Approval No. 26 of 2015 (Cth)

NOTICE OF APPROVAL
COMMONWEALTH OF AUSTRALIA
Higher Education Support Act 2003
VET Provider Approval No 26 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 Fox Endeavours Pty Ltd (ACN:  153 159 794    ABN: 69 153 159 794) as a VET provider in accordance with subclause 6(1) of Schedule 1A to HESA; and

(b)impose conditions on the approval of Fox Endeavours 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 Fox Endeavours Pty Ltd as required by paragraph 11(1)(a) of Schedule 1A to HESA; and

(d)hereby give Fox Endeavours Pty Ltd written notice of my approval as required by paragraph 11(1)(b) of Schedule 1A to HESA.

Conditions

I.Fox Endeavours Pty Ltd must maintain adequate liquidity levels as measured by a current ratio of 1.0 or above for the period of its approval.

II.Fox Endeavours Pty Ltd must maintain a positive equity position for the period of its approval.

III.Fox Endeavours 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.

IV.Fox Endeavours 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.

V.Fox Endeavours Pty Ltd must provide the Department responsible for administering the HESA 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.

VI.Fox Endeavours Pty Ltd must, in writing, advise the Department responsible for administering the HESA of any events affecting Fox Endeavours Pty Ltd or a related entity that may significantly affect the capacity of Fox Endeavours Pty Ltd to meet the VET quality and accountability requirements under the HESA for the period of its approval. The written advice must be provided within 10 working days of the event occurring.

VII.Fox Endeavours Pty Ltd must inform the Department responsible for administering the HESA 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.

VIII.Fox Endeavours Pty Ltd must not include in VET units of study, any units of competency that are not listed as part of the diploma or above level qualification in the relevant Training Package or VET Accredited Course for the period of its approval.

IX.Fox Endeavours Pty Ltd must provide the Department with audited financial statements for the most recently ended financial period, prepared in accordance with the requirements of Appendix 2 of the Financial Viability Instructions, and completed Financial Performance information in HITS for the above financial period, by no later than 6 months after the end of the financial period.

X.Fox Endeavours Pty Ltd must advise the department responsible for administering the HESA of any regulatory activity undertaken or being undertaken by ASQA relating to non-compliance with the Standards of NVER Registered Training Organisations for five years from the date of approval.

XI.Fox Endeavours Pty Ltd must advise the department responsible for administering the HESA of any regulatory activity that has been or is being undertaken in relation to Australian Consumer Law and/or fair trading laws for five years from the date of approval.

XII.Fox Endeavours Pty Ltd must report data monthly for two years from the date of approval.

In accordance with subclause 12(2) of Schedule 1A to HESA this notice of approval commences on the day after it is registered on the Federal Register of Legislative Instruments.

Dated this 14th day of December 2015

Maryann Quagliata

Branch Manager
Delegate of the Minister for Education and Training