Higher Education Provider Approval No. 4 of 2017 (Cth)

NOTICE OF APPROVAL COMMONWEALTH OF AUSTRALIA Higher Education Support Act 2003 Higher Education Provider Approval No. 4 of 2017

Approval under section 16-25, decision under paragraph 16-50(1a), and Notice of Approval under paragraph 16-50(1b) to the Higher Education Support Act 2003.

I, Andrew Herd, a delegate of the Minister for Education and Training for the purposes of 16-25, 16-50 and 16-60 of the Higher Education Support Act 2003 (the Act):

(a) approve Wentworth Institute of Higher Education Pty Ltd (ACN: 141 843 218; ABN: 71 141 843 218) as a higher education provider in accordance with section 16-25 of the Act; and (b) impose conditions on the approval of Wentworth Institute of Higher Education Pty Ltd as a higher education provider in accordance with paragraph 16-60 of the Act; (c) note that this approval decides the application of Wentworth Institute of Higher Education Pty Ltd as required by paragraph 16-50 (1a) of the Act; and (d) hereby give Wentworth Institute of Higher Education Pty Ltd written notice of my approval as required by paragraph 16-50 (1b) of the Act.

Conditions 1. Wentworth Institute of Higher Education 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. Wentworth Institute of Higher Education Pty Ltd must maintain a positive equity position for the period of its approval. 3. Wentworth Institute of Higher Education Pty Ltd must not provide any new guarantees or loans to its directors or related entities that could have a material effect on its finances. 4. Wentworth Institute of Higher Education 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. Wentworth Institute of Higher Education Pty Ltd must, on an annual basis for the period of its approval, by no later than 31 December each year, provide the department responsible for administering the Act with: a) a financial statement that complies with section 19-10 of the Act; and b) a declaration by an external and independent public accountant or qualified auditor that Wentworth Institute of Higher Education Pty Ltd has, as at the date of the declaration, complied with all statutory obligations relating to the lodgement and payment of: * company tax; * goods and services tax; * pay-as-you-go withholding tax for employees; * payroll tax; * superannuation guarantee for employees; and * other withholding tax. 6. Wentworth Institute of Higher Education Pty Ltd must, in writing, advise the department responsible for administering the Higher Education Support Act 2003 of any events affecting Wentworth Institute of Higher Education Pty Ltd or a related entity that may significantly affect the capacity of Wentworth Institute of Higher Education Pty Ltd to meet the quality and accountability requirements under the Act for the period of its approval. The written advice must be provided within 10 working days of the event occurring.