Higher Education Support Act 2003 - VET Provider Approval No. 36 of 2015 (Cth)

NOTICE OF APPROVAL
COMMONWEALTH OF AUSTRALIA
Higher Education Support Act 2003
VET Provider Approval No. 36 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, Shelley Owen, a delegate of the Minister for Education and Training

(a)approve the application of The Redcliffe Aero Club (ACN:  009 819 792 ABN: 74 009 819 792) as a VET provider in accordance with subclause 6(1) of Schedule 1A to the Act; and

(b)imposes conditions on the approval of The Redcliffe Aero Club 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 The Redcliffe Aero Club as required by paragraph 11(1)(a) of Schedule 1A to the Act; and

(d)hereby give The Redcliffe Aero Club written notice of my approval as required by paragraph 11(1)(b) of Schedule 1A to the Act.

Conditions

i.       The Redcliffe Aero Club must maintain adequate liquidity levels as measured by a current ratio of 1.0 or above for the period of its approval.

1. The Redcliffe Aero Club must maintain a positive equity position for the period of its approval.

2. The Redcliffe Aero Club 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.

3. The Redcliffe Aero Club 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 CorporationsAct 2001.

4. The Redcliffe Aero Club 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, including the most recently completed financial year, on an annual basis by no later than 31 December each year for the period of its approval.

5. The Redcliffe Aero Club must, in writing, advise the Department responsible for administering the Higher Education Support Act 2003 of any events affecting The Redcliffe Aero Club or a related entity that may significantly affect the capacity of The Redcliffe Aero Club to meet the VET quality and accountability requirements under the Higher Education Support Act 2003 for the period of its approval. The written advice must be provided within 10 working days of the event occurring.

6. The Redcliffe Aero Club 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.

7. The Redcliffe Aero Club 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.

8. The Redcliffe Aero Club must provide evidence of an approved long term line of credit facility with a registered financial institution for a minimum of $300,000 to the Department responsible for administering the Higher Education Support Act 2003.

9. The Redcliffe Aero Club must advise the department responsible for administering the Higher Education Support Act 2003 of any regulatory activity undertaken or being undertaken by ASQA relating to non-compliance with the Standards for NVR Registered Training Organisations for five years from the date of approval.

10. The Redcliffe Aero Club must 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 five years from the date of approval.

11. The Redcliffe Aero Club must report data monthly for two years from the date of approval.

12. The Redcliffe Aero Club must provide to the department evidence of current tuition assurance membership including course costs, extent and duration of coverage for all higher level courses eligible for VET FEE-HELP, together with evidence the arrangements for course assurance and tuition fee repayment assurance are sufficient to cover all students enrolled as VET students in VET units of study at any time. This evidence must be provided no later than 12 February 2016.

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

Dated 23rd day of December 2015

Shelley Owen
Acting Branch Manager
Delegate of the Minister for Education and Training