New change of ownership obligations now in force
As of today, new change of ownership obligations for registered training organisations (RTOs) and Commonwealth Register of Institutions and Courses for Overseas Students (CRICOS) providers have been implemented.
ASQA has produced a guide and a fact sheet on the change of ownership obligations:
- Fact sheet—Change of Ownership—advice for what to consider when purchasing a provider
- Guide to Change of Ownership—explains the new processes and requirements when advising ASQA of a change to ownership.
ASQA has also released two self-assessment tools for change of ownership:
The Guide to Change of Ownership explains when these tools are required as evidence of compliance with the clauses and standards relevant to your registration.
ASQA will be holding a webinar to discuss the changes on Thursday 5 December—registrations will open soon.
Am I affected?
The Guide to Change of Ownership explains the circumstances in which the new obligations apply and the following questions provide clarity for those who have recently changed ownership.
I have already sold/purchased a training provider but have not submitted the paperwork to ASQA, do the new requirements apply to me?
The new obligations for advising ASQA, including the new evidentiary requirements, apply for any change of ownership of a training provider that occurs on 31 October 2019 or later, according to Australian Securities and Investment Commission (ASIC) records. If the ASIC records confirm the change of ownership occurred prior to today, the new requirements will not apply.
My provider changed ownership in the last 12 months, and ASQA has recorded the change—does any of this apply to me?
Any provider that has changed ownership in the last 12 months may receive additional scrutiny when submitting an application to change scope in the year after the change occurred.