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FUND MANAGER
PricewaterhouseCoopers was appointed Fund Manager under section 49 of the Act. The Fund Manager’s role includes providing the following services under paragraphs 50(1)(a)-(g) of the Act:
- hold money standing to the credit of the Fund in trust for the benefit of overseas students and intending overseas students of registered providers
- manage the Fund in a way that ensure it is able to meet all its liabilities from time to time,
- propose to the Panel the criteria for determining the amounts of annual Fund contributions for providers,
- determine the amounts of annual Fund contributions for providers, in accordance with those criteria,
- collect annual Fund contributions and special levies from providers, and
- arrange alternative courses for students, make payments from the Fund when required to do so.
The Fund Manager is also broadly responsible for the following areas:
- processing, investigating and managing claims on the Fund,
- liaising with providers, claimants, Tuition Assurance Schemes (TAS’) where required,
- providing submissions to the CRP if a special levy is imposed on providers,
- undertaking actions to mitigate losses to the Fund, and
- attending CRP meetings to present contributions criteria and special levy proposals.
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