The directors have determined that the company is not a reporting entity and that this special purpose financial report .

This is the report from the Independent Auditor for Leaders Institute.

Leaders Institute Pty Ltd ABN: 99 605 807 305 ACN: 605 807 305 (the first provider) must meet tuition assurance requirements for persons, other than overseas students,[1] who are enrolled in the higher education courses we offer. This is to protect students in the event we cease to provide a course of study in which a student is enrolled.

• These requirements are covered under the Higher Education Support Act 2003 (the Act) and chapter 2 of the Higher Education Provider Guidelines 2012 (the Guidelines), with which we must comply. The meaning of ‘ceasing to provide a course of study’ is set out in the Guidelines which are available from: http://www.comlaw.gov.au/Series/F2012L02136.
• In the event we cease to provide a course of study in which a student is enrolled, the student is entitled to a choice of:
  • an offer of a place in a similar course of study with a second provider without any requirement to pay the second provider any student contribution or tuition fee for any replacement units (this is known as the ‘Course Assurance Option’)

OR

• A refund of the student’s up-front payments and/or re-crediting of any FEE-HELP balance for any unit of study that the student commences but does not complete because we cease to provide the course of study of which the unit forms part (this is known as the ‘Tuition Fee Repayment Option’).
• We have met the tuition assurance requirements, as specified in the Guidelines through current membership of the (Teach Out Agreement with Torrens University Australia Limited) Australian Student Tuition Assurance Scheme (the Scheme). Contact details for Torrens University Australia Limited (TAS Administrator) are:
  Craig Miller
  Website: www.torrens.edu.au
  Email: cmiller@torrens.edu.au
  Phone Number: 1300 575 803
• If we cease to provide a course of study, the TAS Administrator will send the student enrolled in the course of study a written Tuition Assurance Offer (the Offer) advising the student of the options available under the tuition assurance requirements. The Offer will include directions that the student must follow in order to notify the TAS Administrator of the choice they have made for each affected unit. The TAS Administrator will provide this Offer within twenty business days after it knows, or should know by reasonable enquiries, that we have ceased to provide the course of study.
• For the purposes of FEE-HELP, all courses offered by us, in accordance with the course requirements of section 104-10 of the Act, are covered by the Scheme as part of our membership of the Scheme.
• A student may choose either:
  • The Course Assurance Option
  • The Student Contribution/Tuition Fee Repayment Option

• Under the course assurance option, a student will be offered a place in a similar course of study by the TAS Administrator. If the student accepts this option, the TAS Administrator will make all necessary arrangements to ensure the student is able to enrol with the second provider in the similar course of study. This offered course will lead to the same or a comparable qualification without any requirement on the part of the student to pay the second provider any student contribution or tuition fee for any replacement units (that is, units that the student had commenced but not completed because the course ceased to be offered). A student will receive full credit from the second provider for any units of study successfully completed at the first provider.
• The second provider, nominated by the TAS Administrator, may have different contribution amounts or tuition fees to the amounts or fees the student would have paid for units of study that were part of the course of study we ceased to provide but which the student had not yet started studying.
• A student is not obliged to enrol in a course of study with a second provider offered by the TAS Administrator under the Course Assurance Option. However, if the student enrols with any other HEP, there is no obligation on that provider to offer full credit transfer for the units of study completed with the first provider or to offer replacement unit/s free of charge.