Higher Education Support Act 2003 - VET Provider Approval No. 12 of 2015 (Cth)

NOTICE OF APPROVAL COMMONWEALTH OF AUSTRALIA Higher Education Support Act 2003 VET Provider Approval No 12 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 Australian College of Health & Fitness Pty Ltd (ACN: 123 508 305 ABN: 43 123 508 305) as a VET provider in accordance with subclause 6(1) of Schedule 1A to the Act; and (b) imposes conditions on the approval of Australian College of Health & Fitness Pty Ltd 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 Australian College of Health & Fitness Pty Ltd as required by paragraph 11(1)(a) of Schedule 1A to the Act; and (d) hereby give Australian College of Health & Fitness Pty Ltd written notice of my approval as required by paragraph 11(1)(b) of Schedule 1A to the Act.

Conditions 1. Australian College of Health & Fitness Pty Ltd must maintain adequate liquidity levels as measured by a current ratio of 1.0 or above for the period of its approval.

2. Australian College of Health & Fitness Pty Ltd must maintain a positive equity position for the period of its approval.

3. Australian College of Health & Fitness Pty Ltd must not declare or pay any dividends to its shareholders where such an action is likely to have a material impact on its ongoing financial viability for the period of its approval.

4. Australian College of Health & Fitness 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.