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As an approved provider [part 3], there will be conditions on your approval. You must continue to comply [part 57] with all your conditions of approval. If you reapply to remain an approved provider when your current period of approval expires, you’ll need to show you still meet all these conditions.
10.1 - Conditions of approval
Conditions may be imposed for a variety of reasons, including the management of risks and to maintain the integrity and sustainability of the VSL program.
All providers have conditions limiting the total amount of VSL payments they can receive in a year or other period. This is referred to as the provider fee limit [part 11]. Some providers may also have conditions limiting the loan amounts they can receive for particular courses - provider course fee limits. It is your responsibility to stay within these limits.
You can apply to change your conditions of approval [part 12] if you want to add courses or change your provider fee limits.
10.2 - Period of approval
The period for which a provider is approved will be specified in the approval notice. The period of approval is not more than 7 years. This aligns with the maximum length of approval as a registered training organisation under the National Vocational Education and Training Regulator Act 2011 and as a higher education provider under the Tertiary Education Quality and Standards Agency Act 2011.
The department’s list of VSL Approved Course Providers sets out the period of approval for each provider.
Legislation: Act s 47(1)