Higher Education Support Act 2003 - VET Provider Approval No. 25 of 2015 (Cth)

NOTICE OF APPROVAL COMMONWEALTH OF AUSTRALIA Higher Education Support Act 2003 VET Provider Approval No 25 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 LLT Group Pty Ltd (ACN: 116 800 812 ABN: 69 116 800 812) as a VET provider in accordance with subclause 6(1) of Schedule 1A to HESA; and (b) imposes conditions on the approval of LLT Group 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 LLT Group Pty Ltd as required by paragraph 11(1)(a) of Schedule 1A to HESA; and (d) hereby give LLT Group Pty Ltd written notice of my approval as required by paragraph 11(1)(b) of Schedule 1A to HESA.

Conditions 1. LTT Group 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. LTT Group Pty Ltd must maintain a positive equity position for the period of its approval.

iii. LTT Group 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. LTT Group 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.