1Higher Education Provider Approval No. 5 of 2014

NOTICE OF APPROVAL

COMMONWEALTH OF AUSTRALIA

Higher Education Support Act 2003

Higher Education Provider Approval No 5 of 2014

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

I, Alison Cleary, a delegate of the Minister for Education for the purposes of sections 16-25 and 16-50 of the Higher Education Support Act 2003 (the Act):

(a) approve the application of MHM Higher Education Pty Ltd (ACN: 139 036 721 ABN: 16 139 036 721) as a Higher Education Provider in accordance with section 16‑25 of the Act; and

(b) impose conditions on the approval of MHM Higher Education Pty Ltd in accordance with section 16-60 of the Act; and

(c) note that this approval decides the application of MHM Higher Education Pty Ltd as required by paragraph 16‑50(1)(a) of the Act; and

(d) hereby give MHM Higher Education Pty Ltd written notice of my approval as required by paragraph 16‑50(1)(b) of the Act.

Conditions

1. MHM Higher Education Pty Ltd must provide to the Department responsible for administering the Act (the Department), year to date interim management reports on a six monthly basis including, but not limited to, standard balance sheet and detailed profit and loss statements for MHM Higher Education Pty Ltd and MHM Australasia Pty Limited. The management reports must be attested to by a Director of the respective company that they present a true and fair view of the financial position of that company. The management reports must be provided each year by 5.00pm on:

a) 31 January – covering the period 1 July to 31 December; and

b) 31 July – covering the period 1 January to 30 June, including year to date figures covering the period from 1 July to 30 June.

2. MHM Higher Education Pty Ltd must provide to the Department revised projected student enrolments and budget forecast reports for the current and next financial reporting year. The forecasts must be provided with the provision of the interim management reports.

3. At the time of provision of interim management reports, MHM Higher Education Pty Ltd must also provide to the Department:

a) a progress report comparing actual student enrolments against projected student enrolments and actual income and expenses against budget forecasts for the same period as the interim management reports; and

b) an explanation of variances of 10 per cent or more between actual and projected student enrolments and actual income and expenses and budget forecasts;