7Obligation to submit to assessment at initial registration

7 Obligation to submit to assessment at initial registration

(1) An organisation seeking registration with the National VET Regulator must submit to an assessment of financial viability risk by a qualified independent financial auditor nominated by the National VET Regulator, as part of the assessment of the application for registration. (2) The assessment will include an assessment of the source and reliability of the evidence supporting the assumptions underlying the projections. (3) The obligation to submit to the assessment referred to in (1) applies also to parent organisations, affiliated companies or organisations that have a vested interest in the organisation.