Standard 7. The RTO has effective governance and administration arrangements in place.
7.1. The RTO ensures that its executive officers or high managerial agent:
a) are vested with sufficient authority to ensure the RTO complies with the RTO Standards at all times; and
b) meet each of the relevant criteria specified in the Fit and Proper Person Requirements in Schedule 3.
7.2. The RTO satisfies the Financial Viability Risk Assessment Requirements.
Some of these requirements are relatively new and need close monitoring.
7.3. Where the RTO requires, either directly or through a third party, a prospective or current learner to prepay fees in excess of a total of $1500 (being the threshold prepaid fee amount), the RTO must meet the requirements set out in the Requirements for Fee Protection in Schedule 6.
7.4. The RTO holds public liability insurance that covers the scope of its operations throughout its registration period.
7.5. The RTO provides accurate and current information as required by the Data Provision Requirements as updated from time to time.