U1/206 Adelaide Terrace, East Perth WA 6004, Australia
RTO’s do not have the permission to legally transfer their registration from one entity to the other. However, in cases of changing in shareholders, the registered entity’s ABN/ACN does not change. During such occasions, the provider must contact ASQA regarding the change in ownership to continue with their services. Such providers must provide a Notification of Material Change to ASQA.
In case more than half of an RTO ownership changes within a year, a Financial Viability Risk Assessment (FVRA) Tool will be required. The FVRA tool documents the past, present and future operational and economic data. Past financial statements and business plans will need to be submitted.
While changing ownership, ASQA must be notified through the notification of material change form on asqanet. The notification must take place as soon as practicable since the event. A range of documents must be provided while completing the form, including a fit and proper person declaration for people who gain 15% or more ownership of a provider.
In case 50% or more of a training provider’s ownership changes within a year, they must provide FVRA and Section A of the self-assessment tool for change of ownership. If 100% of a provider or parent entity’s ownership is changed, within a year, then Section A and B of the appropriate self-assessment tool must be completed and submitted to ASQA in case the provider has no ongoing students or, they have not had more than ten students complete a course within the previous one year of registration.
To initially register with ASQA, applicants go through a stringent assessment to ensure that the training provider meets the standard requirements and can provide the expected assessment and high-quality training. They conduct thorough tests to ensure that the training is following the standards of the Australian industry and employers.
Strict regulations are followed to make sure that registrations cannot be manipulated or bought, to maintain the high standards. When notified of ownership changes, ASQA conducts a strict assessment in the year after the change of business ownership. It ensures that the training providers are capable of delivering courses, and are well resourced to continue delivering quality training that ensures the individual(s) fulfil the proper person requirements.
Having a comprehensive command in the RTO business makes us a preferred choice in doing all sorts of RTO related tasks. By closely observing and working with ASQA, we have developed a sense of performing tasks as per their guidelines. RTO and CRICOS registration are not transferable from one legal entity to another. It becomes vital to understand the obligations if you are requesting a RTO ownership transfer. If you are failing to understand the obligations? Let us help you with our services.