Commonwealth Consolidated Acts

EDUCATION SERVICES FOR OVERSEAS STUDENTS ACT 2000 - SECT 28

Requirement to maintain account

  (1)   A registered provider who receives, in respect of an overseas student or intending overseas student, tuition fees for a course before the student has begun the course must maintain an account in accordance with this section.

Note 1:   Providers covered by section   31 are not required to comply with this section.

Note 2:   The obligation to maintain an account under this section may continue to apply to a person or entity that ceases to be a registered provider until matters relating to tuition fees paid into the account in accordance with section   29 have been dealt with or resolved (see section   7AB).

Account to be maintained with an Australian ADI

  (2)   The account must be maintained with an Australian ADI (within the meaning of section   9 of the Corporations Act 2001 ).