VET Student Loans Act 2016

PART 5B - VSL Tuition Protection Fund, VSL Tuition Protection Director and VSL Tuition Protection Fund Advisory Board  

Division 1 - VSL Tuition Protection Fund  

SECTION 66L   PURPOSES OF THE VSL TUITION PROTECTION FUND  

66L(1)    
The purposes of the VSL Tuition Protection Fund are as follows:

(a) making payments in connection with tuition protection;

(b) paying or discharging the costs, expenses and other obligations incurred by the Commonwealth in the performance of the VSL Tuition Protection Director ' s functions, including in managing the VSL Tuition Protection Fund;

(c) paying any remuneration and allowances payable to the VSL Tuition Protection Director;

(d) paying any remuneration and allowances payable to the members of the VSL Tuition Protection Fund Advisory Board;

(e) paying any amount that is required or permitted to be repaid;

(f) reducing the balance of the Fund (and therefore the available appropriation for the Fund) without making a real or notional payment.

Note:

See section 80 of the Public Governance, Performance and Accountability Act 2013 (which deals with special accounts).

66L(2)    
The rules may, for the purposes of paragraph (1)(a), make provision in relation to such payments, including in relation to the following:

(a) the circumstances in which payments may be made;

(b) amounts of different kinds of payments;

(c) methods for calculating different kinds of payments.

Note:

For example, the rules may provide that a replacement provider may receive a transfer payment if a student accepts an offer of a replacement course with the provider.

66L(3)    
The purposes in subsection (1) do not include paying or discharging any costs, expenses or other obligations associated with services provided to the VSL Tuition Protection Director by any employee or officer of a Commonwealth entity (within the meaning of the Public Governance, Performance and Accountability Act 2013 ).