Policies and Procedures Changes to Registered Providers’ ownership or management Changes to Registered Providers’ ownership or management Policy and Procedures | Gold Coast Learning Centre
GCLC is required to advise designated authorities, ASQA, of the change of ownership or the managerial agents including the Director, Manager.
As GCLC is registered as both an RTO and as a CRICOS provider, the college must notify ASQA of a change of ownership as soon as practicable before the change takes effect. This is a requirement under the ESOS Act 2000.
Evidence must be submitted to ASQA to support the change of ownership, including:
- A Financial Viability Assessment Tool, and other evidence concerning the clauses and standards in the Self-Assessment Tool for Change of Ownership.
How does ASQA respond to changes of ownership?
- ASQA will record all notifications of material change for a change of ownership once the notification and required evidence are submitted.
- ASQA will conduct a compliance audit if the change of ownership is significant in order to review evidence submitted in order to ensure that the RTO is compliant with the regulatory frameworks set out by the ESOS Act, and will focus on whether the RTO is, and will remain, sufficiently resources to provide quality training and assessment, accurate information, and adequate support to students.
- There will be increased scrutiny for 12 months after the compliance activity is finalised.