RTO change of ownership
Buying an RTO is a significant decision. The business, compliance and regulatory steps need to be handled carefully. Every change of ownership is different. The timing, ownership structure, scope of registration, student cohort, governing persons, financial viability requirements and supporting evidence all need to be considered in the context of the actual transaction.
Newbery Consulting provides practical support to help RTO purchasers prepare for and manage the ASQA change of ownership notification process.
Description
Consulting support to assist an RTO purchaser to prepare for and submit a material change notification relating to a change of ownership (click).
This service includes support with the ASQA Notification of material change, the Self-assessment Tool for Change of Ownership, Fit and Proper Person Declarations, supporting evidence, and related sequencing issues. This service is suitable where the registered legal entity remains the same. RTO registration cannot be transferred from one legal entity to another.
Why this process needs care
A change of ownership is not simply a sale transaction. While your solicitor will usually manage the legal aspects of the purchase, the buyer also needs to think carefully about how the RTO will operate after settlement.
This may include:
- what qualifications and training products will continue to be delivered
- whether the current scope of registration remains suitable
- how existing students will be supported through the transition
- who will become the CEO or other governing persons
- who needs to complete Fit and Proper Person Declarations
- how the RTO’s details will be updated in asqanet
- how marketing and advertising will be reviewed and adjusted
- what supporting evidence is needed for the self-assessment
- whether financial viability information is required
- when ASQA must be notified
- what needs to be submitted after the change has occurred.
Our role is to help you think through these issues before they become problems.
How Newbery Consulting can help
We usually start with a confidential discussion about the proposed transaction. This helps us understand where you are up to, what has already happened, what still needs to happen, and any risks or timing issues that may affect the notification process.
We can then help you:
- clarify the regulatory requirements for the proposed change
- identify the key steps and timing issues
- consider the RTO’s post-sale operating arrangements
- review the current scope of registration and delivery intentions
- support updates to RTO details in ASQAnet
- identify who may need to complete Fit and Proper Person Declarations
- support preparation of the Notification of material change
- prepare the Self-assessment Tool for Change of Ownership
- help organise supporting evidence
- prepare an evidence index for submission
- review current policies, procedures and records for suitability
- identify gaps that may need to be addressed
- support the notification process until ASQA confirms the notification has been accepted.
We work with the buyer because they are usually the party who will carry the compliance responsibility after the transaction has occurred.
Supporting evidence
The supporting evidence for a change of ownership submission will depend on the RTO, its scope of registration, delivery model, student cohort, ownership structure and current systems. As part of this service, Newbery Consulting helps identify and organise suitable evidence to support the self-assessment and material change notification.
Supporting evidence may relate to:
- ownership structure, share transfer and timing of the change
- governing persons and Fit and Proper Person Declarations
- financial viability information, prepared with accountant support where required
- governance arrangements and compliance oversight
- risk management and continuous improvement arrangements
- current scope of registration and delivery arrangements
- training and assessment strategies and practices
- assessment system arrangements
- validation arrangements
- recognition of prior learning and credit transfer arrangements
- trainer and assessor competency, currency and credential arrangements
- workforce planning and supervision arrangements
- student information, enrolment and support arrangements
- reasonable adjustment and disability disclosure arrangements
- complaints, appeals and feedback arrangements
- facilities, equipment and learning resources
- marketing and advertising quality assurance arrangements
- AQF certification issuance arrangements
- transition arrangements for superseded training products
- public liability insurance
- fee protection arrangements
- third party arrangements, where applicable.
We review the evidence already available and help identify any gaps that may need to be addressed before the submission is finalised.
Financial viability
A Financial Viability Risk Assessment Tool may be required as part of the change of ownership process. Newbery Consulting does not provide accounting, legal or financial viability services. Clients should obtain their own legal advice about the purchase transaction. Where financial viability support is needed, we can refer clients to an experienced accountant who understands RTO financial viability requirements. Clients may also use their own accountant.
Timing and sequencing
The timing of the change of ownership is important. In many cases, useful preparation can occur before the notification is submitted to ASQA. This may include gaining access to ASQAnet, reviewing RTO details, preparing Fit and Proper Person Declarations, considering post-sale operating arrangements, reviewing marketing and student communication arrangements, and starting the self-assessment and evidence collation process. The RTO will usually notify ASQA before the sale transaction occurs, advising that the change of ownership is occurring and identifying the relevant date.
After the change has occurred, the supporting evidence and self-assessment may then need to be submitted to ASQA. We help the client work through this sequence so the notification and supporting material are handled in an organised way.
Existing students
If the RTO has current students, their transition needs to be managed carefully. This may include reviewing how students will be informed about the change, how their enrolment and support arrangements will continue, and whether any changes to delivery, contact points or administrative arrangements need to be communicated. The aim is to support continuity for students while the ownership change is managed.
How the service is delivered
Once the service starts, we establish a shared working folder so documents, evidence and drafts can be organised in one place. We then work with you to prepare the notification, self-assessment and supporting evidence package. The work is practical and structured. You will know what information is needed, what documents need to be prepared and what steps remain before submission.
Cost: $4,400.00
Add to Basket Download Invoice Enquire
Other information: Price is inclusive of GST. Newbery Consulting Terms and Conditions apply.
Please contact us if you require more information.