Commonwealth Numbered Regulations

1995 No. 13 EDUCATION SERVICES FOR OVERSEAS STUDENTS (REGISTRATION OF PROVIDERS AND FINANCIAL REGULATION) REGULATIONS (AMENDMENT) - REG 3

3.1 Omit the regulation, substitute: Withdrawals and payments out of notified
trust accounts-course enrolment fees

"4. If:

   (a)  an amount of course money that, under these Regulations, is taken to
        be course enrolment fees is paid to a provider by, or on behalf of, a
        student; and

   (b)  the provider pays the whole or any part of the amount into a notified
        trust account; the provider may withdraw or pay out of the notified
        trust account the whole or any part of the amount. Withdrawals and
        payments out of notified trust accounts-tuition fees

"4A. (1) If:

   (a)  an amount of course money for tuition fees is paid to a provider by,
        or on behalf of, a student; and

   (b)  the provider pays the whole of the amount into a notified trust
        account; the provider may withdraw or pay the money out of the
        notified trust account in accordance with subregulations (2) and (5).



"(2) A provider to whom subregulation (1) applies may withdraw or pay out of a
notified trust account:

   (a)  before the start of a course-an amount of money not exceeding 20% of
        the amount standing to the credit of the student in the account; and

   (b)  on or after the day on which the course starts-an amount of money not
        exceeding 45% of the amount standing to the credit of the student in
        the account before any withdrawal or payment out of the account
        occurred under paragraph (a).



"(3) If:

   (a)  an amount of course money for tuition fees is paid to a provider by,
        or on behalf of, a student; and

   (b)  under the exemption provided in subregulation 6A (1), the provider
        does not pay into a notified trust account a part that does not exceed
        20% of the amount; the provider may withdraw or pay the money out of
        the notified trust account in accordance with subregulations (4) and
        (5).



"(4) A provider to whom subregulation (3) applies may withdraw or pay out of a
notified trust account:

   (a)  before the start of a course-an amount of money not exceeding the
        difference between 20% of the amount referred to in paragraph (3) (a)
        and the amount that has not been paid into the account; and

   (b)  on or after the day on which the course starts-an amount of money not
        exceeding the difference between 45% of the amount referred to in
        paragraph (3) (a) and:

        (i)    if an amount of money has been withdrawn or paid out of the
               account under paragraph (a)-the sum of that amount and the
               amount that has not been paid into the account; or

        (ii)   if an amount of money has not been withdrawn or paid out of the
               account under paragraph (a)-the amount that has not been paid
               into the account.



"(5) A provider may withdraw or pay any part of the remaining course money out
of the notified trust account if:

   (a)  the amount withdrawn or paid out of the account does not exceed the
        amount of tuition fees for a part of the course that has already been
        provided to the student; and

   (b)  the provider does not act under this subregulation more than once in a
        week.".