Higher Education Support Act 2003 - VET Provider Approval No. 35 of 2015 (Cth)

NOTICE OF APPROVAL COMMONWEALTH OF AUSTRALIA Higher Education Support Act 2003 VET Provider Approval No 35 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, Shelley Owen, a delegate of the Minister for Education and Training:

(a) approve the application of Talentmed Pty Ltd (ACN: 125 458 808 ABN: 29 125 458 808) as a VET provider in accordance with subclause 6(1) of Schedule 1A to HESA; and (b) impose conditions on the approval of Talentmed 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 Talentmed Pty Ltd as required by paragraph 11(1)(a) of Schedule 1A to HESA; and (d) hereby give Talentmed Pty Ltd written notice of my approval as required by paragraph 11(1)(b) of Schedule 1A to HESA.

Conditions

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

3. TalentMed 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.

4. TalentMed 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.

5. TalentMed Pty Ltd 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, on an annual basis by no later than 31 December each year for the period of its approval.