sec.5DWhat is a systemic risk ?

sec.5D What is a systemic risk ?

In this Law, a systemic risk arises in relation to— an applicant for a provider approval if the provider approval is granted and there is— a risk to the safety, health or wellbeing of a child or children to be educated and cared for by an education and care service proposed to be operated by the applicant; or a risk of the applicant contravening this Law or the national regulations; or an approved provider if there is— a risk to the safety, health or wellbeing of a child or children being educated and cared for by an education and care service operated by the approved provider; or a risk of the approved provider contravening this Law or the national regulations; or a related provider of an applicant for a provider approval or a related provider of an approved provider if there is— a risk to the safety, health or wellbeing of a child or children being educated and cared for by an education and care service operated by the related provider; or a risk of the related provider contravening this Law or the national regulations. In determining whether there is a systemic risk, the Regulatory Authority may have regard to the following— the nature of the risk; whether the risk is connected to, or is a result of, the governance, ownership or operation of an approved provider or one or more related providers of the approved provider; whether the risk is shared between an approved provider and any related provider of the approved provider; how the risk affects an approved provider and any related provider of the approved provider; any other matter the Regulatory Authority considers relevant. s 5D ins 2025 No. 53 (Vic) s 64 (sec.5D-ssec.1) In this Law, a systemic risk arises in relation to— an applicant for a provider approval if the provider approval is granted and there is— a risk to the safety, health or wellbeing of a child or children to be educated and cared for by an education and care service proposed to be operated by the applicant; or a risk of the applicant contravening this Law or the national regulations; or an approved provider if there is— a risk to the safety, health or wellbeing of a child or children being educated and cared for by an education and care service operated by the approved provider; or a risk of the approved provider contravening this Law or the national regulations; or a related provider of an applicant for a provider approval or a related provider of an approved provider if there is— a risk to the safety, health or wellbeing of a child or children being educated and cared for by an education and care service operated by the related provider; or a risk of the related provider contravening this Law or the national regulations. (sec.5D-ssec.2) In determining whether there is a systemic risk, the Regulatory Authority may have regard to the following— the nature of the risk; whether the risk is connected to, or is a result of, the governance, ownership or operation of an approved provider or one or more related providers of the approved provider; whether the risk is shared between an approved provider and any related provider of the approved provider; how the risk affects an approved provider and any related provider of the approved provider; any other matter the Regulatory Authority considers relevant.