50BWhat the TPS Director must do when a call is made

50B What the TPS Director must do when a call is made

TPS Director must pay amount (1) If a call is made on the OSTF, then, as soon as practicable, the TPS Director must pay out of the OSTF an amount equal to the amount that the provider must still pay in order to satisfy the refund requirements under Division 2.

Note: The TPS Director pays the amount to the person specified in subsection (3).

(2) If the student accepts a place in an alternative course in accordance with section 49, the TPS Director may spend more than the amount of that refund entitlement if the TPS Director considers that to do so: (a) would best protect the interests of the student; and (b) would not jeopardise the sustainability of the OSTF. Who TPS Director pays amount to (3) The TPS Director must, in accordance with a legislative instrument made under subsection (5), pay the amount to: (a) if the student has accepted a place in an alternative course in accordance with section 49—the registered provider of that course; and (b) if a refund was required to be paid under section 47D, and a person (other than the student) is specified in the agreement made with the student under section 47B to receive any refund under this section—the specified person; and (c) otherwise—the student. (4) If: (a) the TPS Director is required under subsection (3) to pay a registered provider for providing an alternative course; and (b) the amount required to be paid is more than the cost of the course; the TPS Director must pay the difference to the person specified in paragraph (3)(b) or (c) (as the case requires). Legislative instrument (5) The Minister may, by legislative instrument, specify requirements for payments made under this section.