1Higher Education Provider Approval No 4 of 2020

NOTICE OF APPROVAL

COMMONWEALTH OF AUSTRALIA

Higher Education Support Act 2003

Higher Education Provider Approval No 4 of 2020

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 (the Act).

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

(a) approve the application of the Australian Chiropractic College Limited (ABN: 84 612 258 072, ACN: 612 258 072) as a higher education provider in accordance with section 16-25 of the Act;

(b) impose conditions on the approval of the Australian Chiropractic College Limited as a higher education provider in accordance with paragraph 16-60 of the Act;

(c) note that this approval decides the application of the Australian Chiropractic College Limited as required by paragraph 16-50 (1a) of the Act; and

(d) hereby give the Australian Chiropractic College Limited written notice of my approval as required by paragraph 16-50 (1b) of the Act.

Conditions

Australian Chiropractic College Limited must maintain adequate liquidity levels as measured by a current ratio of 1.0 or above for the period of its approval.

2. Australian Chiropractic College Limited must maintain a positive equity position for the period of its approval.

3. Australian Chiropractic College Limited will not provide any new guarantees or loans to its directors or related entities that could have a material effect on its finances.

4. Australian Chiropractic College Limited 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. Australian Chiropractic College Limited 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: Applicants and Providers of FEE-HELP on an annual basis by no later than 31 December each year for the period of its approval.

6. Australian Chiropractic College Limited must provide the department responsible for administering the Higher Education Support Act 2003 with audited financial statements, prepared in accordance with requirements of Financial Viability Instructions: Applicants and Providers of FEE-HELP, in respect of the Australian Chiropractic Investment Holdings Pty Ltd as trustee for the Australian Chiropractic College Investment Trust on an annual basis by no later than 31 December each year for the period of its approval, or so long as Australian Chiropractic Investment Holdings Pty Ltd as trustee for the Australian Chiropractic College Investment Trust remains in operation.

7. Australian Chiropractic College Limited must, in writing, advise the department responsible for administering the Higher Education Support Act 2003 of any events affecting Australian Chiropractic College Limited or a related entity that may significantly affect the capacity of Australian Chiropractic College Limited 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.

8. Australian Chiropractic College Limited must inform the department responsible for administering the Higher Education Support Act 2003 in writing of changes to directors, company structure and/or its constitution for the period of its approval. The written advice must be provided within 10 working days of the event occurring.

9. Australian Chiropractic College Limited must, as soon as practicable, advise the department responsible for administering the Higher Education Support Act 2003 of any regulatory activity undertaken or being undertaken by the Tertiary Education Quality and Standards Authority or any other regulatory body which may impact upon its operations for the period of its approval.

10. Australian Chiropractic College Limited must, as soon as practicable, advise the department responsible for administering the Higher Education Support Act 2003 of any regulatory activity that has been or is being undertaken in relation to Australian Consumer Law and/or fair trading laws for the period of its approval.

11. Australian Chiropractic College Limited must inform each student in writing at the time of their application to study with Australian Chiropractic College Limited as to its current status in relation to its receiving accreditation from the Council of Chiropractic Education Australia. This should take the form of the recommended statement as provided by the Council of Chiropractic Education Australia. This condition remains applicable until such time as Australian Chiropractic College Limited may attain full, unconditional accreditation from the Council of Chiropractic Education Australia.

12. Australian Chiropractic College Limited must inform each student in writing at the time of their application to study with Australian Chiropractic College Limited as to the total cost of their course and the likelihood of the incursion of out of pocket expenses associated with the possibility of exceeding their capacity to access HELP funds as a result of the HELP Loan Limit.

13. Australian Chiropractic College Limited must report student data into HEIMS monthly for two years from the date of approval.