EDUCATION SERVICES FOR OVERSEAS STUDENTS ACT 2000 - SECT 171 Reinstatement fee
EDUCATION SERVICES FOR OVERSEAS STUDENTS ACT 2000 - SECT 171
Reinstatement fee(1) A registered provider must pay a reinstatement fee before the suspension of, or a condition on, the registration of the provider is removed under subsection 89(5) , 90(2) or 94(2) or (4).
Amount of reinstatement fee
(4) The amount of the reinstatement fee is:
(a) $500 for the initial year; and
(b) for a later year (the current year ), the amount worked out by multiplying the reinstatement fee for the year before the current year by the indexation factor that applies to the current year.
(5) The indexation factor that applies to the current year is worked out using the following formula:
"index number" for a quarter means the All Groups Consumer Price Index number that is the weighted average of the 8 capital cities and is published by the Australian Statistician for that quarter.
"previous September quarter" means the September quarter before the recent September quarter.
"recent September quarter" means the September quarter in the year before the current year.
(6) The indexation factor worked out under subsection ( 5) must be rounded up or down to 3 places (rounding up in the case of exactly halfway between).
(7) The amount worked out under paragraph ( 4)(b) must be rounded to the nearest whole dollar (rounding up in the case of 50 cents).
(8) If at any time (whether before or after the commencement of this section) the Australian Statistician has changed or changes the index reference period for the Consumer Price Index, then, for the purposes of applying this section after the change, only index numbers published in terms of the new index reference period are to be used.
Definition of initial year
(9) In this section, the initial year means the first calendar
year in which the reinstatement fee is $500.