GEN010: Change of ownership definition

Type:
Rule or condition

A change of ownership or governance is any change to the ownership or governance structure of a private training establishment (PTE) that results in a difference from the ownership or governance structure that existed at the time the Tertiary Education Commission approved funding for the Investment Plan or issued the funding approval. These changes include, for example:

  • change to the legal entity
  • mergers of PTEs
  • transfer or sale to a trust
  • outright sale of the business (assets) to a new owner(s)
  • partial sale of the business (assets) to a new owner(s)
  • change to the shareholding of the PTE (private company)
  • change in directors of the PTE (private company).
  • Last changed: 17 December 2010
  • Last verified: 17 December 2010