Federal Register of Legislation
NOTICE OF APPROVAL COMMONWEALTH OF AUSTRALIA Higher Education Support Act 2003 VET Provider Approval No 5 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 Aurora Training Institute Pty Ltd as trustee for The Aurora Trust (ACN: 081 027 634 ABN: 18 095 833 959) as a VET provider in accordance with subclause 6(1) of Schedule 1A to the Act; and (b) imposes conditions on the approval of Aurora Training Institute Pty Ltd as trustee for The Aurora Trust 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 Aurora Training Institute Pty Ltd as trustee for The Aurora Trust as required by paragraph 11(1)(a) of Schedule 1A to the Act; and (d) hereby give Aurora Training Institute Pty Ltd as trustee for The Aurora Trust written notice of my approval as required by paragraph 11(1)(b) of Schedule 1A to the Act.
Conditions Subclause 12A(1) of Schedule 1A to the Act provides for the Minister to impose conditions on a body's approval as a VET provider. The conditions to be imposed on Aurora Training Institute Pty Ltd as trustee for The Aurora Trust's approval are listed below:
1. Aurora Training Institute Pty Ltd as trustee for the Aurora Trust must maintain adequate liquidity levels as measured by a current ratio of 1.0 or above for the period of its approval.
2. Aurora Training Institute Pty Ltd as trustee for the Aurora Trust must maintain a positive equity position for the period of its approval.
3. Aurora Training Institute Pty Ltd as trustee for the Aurora Trust 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.
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