13Legislative instrument for purposes of section 11 or 12

13 Legislative instrument for purposes of section 11 or 12

(1) Before 1 August 2020 and each later year, the Higher Education Tuition Protection Director must, by legislative instrument, determine each of the following for the year: (a) an amount for the purposes of step 1 of the method statement in subsection 11(2); (b) a percentage for the purposes of step 2 of the method statement in subsection 11(2); (c) for the purposes of step 4 of the method statement in subsection 11(2): (i) one or more risk factors that reflect the risk of payments being made out of the Higher Education Tuition Protection Fund in respect of leviable providers with that factor or those factors; and (ii) for each risk factor—the risk factor value, or a method for working out the risk factor value, for leviable providers, or a class of leviable providers; (d) a percentage for the purposes of subsection 12(2). (2) The percentage determined in an instrument for the purposes of paragraph (1)(b) or (d) may be zero. (3) A risk factor value for a risk factor determined for the purposes of subparagraph (1)(c)(ii) must be a number between zero and 10 (inclusive). (4) In making a legislative instrument under subsection (1), the Higher Education Tuition Protection Director must have regard to: (a) any advice of the Higher Education Tuition Protection Fund Advisory Board in relation to the matters referred to in that subsection; and (b) the sustainability of the Higher Education Tuition Protection Fund. (5) The Higher Education Tuition Protection Director may have regard to any other matter that the Director considers appropriate. (6) Before the Higher Education Tuition Protection Director makes a legislative instrument under subsection (1), the Treasurer must approve the legislative instrument in writing.