92Application of money for educational schemes

92 Application of money for educational schemes (1) If the amount standing to the credit of the moneys of the Fund is greater than 1 million monetary units (or, if another amount is determined by the Administrator, that amount), the Minister may

Agents Licensing Act 1979 62 consent to the use by the Registrar of a specified amount or proportion of the Fund for the purposes specified in subsection (2). (2) The Registrar may use the amount or proportion of the Fund specified by the Minister under subsection (1) to enable the Board to establish and conduct a scheme for the payment of all or part of the costs or other expenses related to educational courses (except fees or other expenses of students attending or undertaking an educational course). (3) An amount of money may only be allocated to a person under subsection (2) for the provision of an educational course if: (a) the person is a registered training organisation; and (b) the educational course to be provided by the registered training organisation is approved under section 22A or 31B or is a VET accredited course or part of a Training Package. (4) The Board may determine the registered training organisation or registered training organisations to which the monies of the Fund are to be allocated for the purposes specified in subsection (2). (5) The Board must, within 30 days after the end of each financial year, give the Minister a written report on the Board's activities for the purposes of this section. (6) In this section: educational course means a course relating to laws applying to and in relation to licensed agents and their business and the practices and procedures of licensed agents in their business, but does not include a course: (a) the purpose of which relates to the tactics or techniques of selling or advertising; or (b) that the Board declares not to be an educational course. registered training organisation, see section 3 of the National Vocational Education and Training Regulator Act 2011 (Cth). Training Package means a training package as defined in section 4 of the Training and Skills Development Act 2016. VET accredited course, see section 3 of the National Vocational Education and Training Regulator Act 2011 (Cth).

Agents Licensing Act 1979 63