organisations and is imposed for reasons not associated with the Training Provider's performance under the Other VET Funding Arrangement); or an Other VET Funding Arrangement Termination Event occurs in relation to the Training Provider or any other registered training organisation that is a member of the Training Provider Group. This Clause has been left blank intentionally. The Training Provider must immediately notify the Department in writing of any significant changes to its ownership, CEO or operations (including its financial viability and any intention or decision to cease operations as a registered training organisation in respect of Victorian Employees). The Training Provider must notify the Department if its shares or other securities are listed on a stock exchange and that listing has not been notified to the Department pursuant to Clause 7.4. The Training Provider must notify the Department if, at any time at which its shares or other securities are listed on a stock exchange, any person whom the Training Provider is not permitted to engage, employ, contract or otherwise deal with under Clause 4.4(i) obtains: at least 35% of the voting power in the Training Provider; or Control of the Training Provider. The Training Provider must promptly notify the Department if, at any time after the making of the Training initial response to the Skills First Provider Selection Process, the Provider’s Training Provider becomes subject to an Insolvency Event or if any event occurs to which Clause 18.3(g), 18.3(h) or 18.3(j) applies. FUNDING, PAYMENTS AND OTHER FINANCIAL ARRANGEMENTS Payments for Training Services Subject to this VET Funding Contract, the Department: agrees to pay the Funds in respect of each Eligible Individual in respect of whom the Training Provider is providing the Training Services; and will make payment of the Funds to the Training Provider in accordance with Schedule 1. The Training Provider acknowledges and agrees that: the Department's payment of the Funds to the Training Provider in respect of an individual under this VET Funding Contract is conditional upon the Department being satisfied (and continuing to be satisfied) that: the individual is an Eligible Individual; the Training Services are being provided by the Training Provider in respect of the relevant individual in accordance with this VET Funding Contract; and the Funds are being reasonably applied by the Training Provider for the purpose of the provision of the Training Services in respect of that individual;
organisations and is imposed for reasons not associated with the Training Provider's performance under the Other VET Funding Arrangement); or an Other VET Funding Arrangement Termination Event occurs in relation to the Training Provider or any other registered training organisation that is a member of the Training Provider Group. This Clause has been left blank intentionally. The Training Provider must immediately notify the Department in writing of any significant changes to its ownership, CEO or operations (including its financial viability and any intention or decision to cease operations as a registered training organisation in respect of Victorian Employees). The Training Provider must notify the Department if its shares or other securities are listed on a stock exchange and that listing has not been notified to the Department pursuant to Clause 7.4. The Training Provider must notify the Department if, at any time at which its shares or other securities are listed on a stock exchange, any person whom the Training Provider is not permitted to engage, employ, contract or otherwise deal with under Clause 4.4(i) obtains: at least 35% of the voting power in the Training Provider; or Control of the Training Provider. The Training Provider must promptly notify the Department if, at any time after the making of the Training Provider’s initial response to the Skills First Provider Selection Process, the Training Provider becomes subject to an Insolvency Event or if any event occurs to which Clause 18.3(g), 18.3(h) or 18.3(j) applies. FUNDING, PAYMENTS AND OTHER FINANCIAL ARRANGEMENTS Payments for Training Services Subject to this VET Funding Contract, the Department: agrees to pay the Funds in respect of each Eligible Individual in respect of whom the Training Provider is providing the Training Services; and will make payment of the Funds to the Training Provider in accordance with Schedule 1. The Training Provider acknowledges and agrees that: the Department's payment of the Funds to the Training Provider in respect of an individual under this VET Funding Contract is conditional upon the Department being satisfied (and continuing to be satisfied) that: the individual is an Eligible Individual; the Training Services are being provided by the Training Provider in respect of the relevant individual in accordance with this VET Funding Contract; and the Funds are being reasonably applied by the Training Provider for the purpose of the provision of the Training Services in respect of that individual;
FINAL_Non_Vic_VFC_v1.0_2016_12_16.docx