ESOS ACT 2001
The ESOS Assurance Fund has been established under section 46 of the ESOS Act 2000 (the Act) to protect the interests of current and intending overseas students of registered providers. It will do this by ensuring that students are provided with suitable alternative courses, or have their course monies refunded, if the provider can not provide the course(s) that the student has paid for.
Summary of the Act
The Act details the role of the Fund and the responsibilities of the Fund Manager. Some of these areas in the Act include:
- money which goes into and out of the Fund (Division 1)
- functions and power of the Fund Manager (Division 2)
- the Contribution Review Panel, its role and functions (Division 3)
- how the annual Fund contribution is determined
- applying to the Fund Manager and Contributions Review Panel for a review of the contribution amount invoiced and associated fees (Division 4, Subdivision B).
A full copy of the Act can be found on the DEEWR website.
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