•   This Part establishes the Overseas Students Tuition Fund, the TPS Director and the TPS Advisory Board.

•   Division   2:

  (a)   establishes the Overseas Students Tuition Fund (the OSTF); and

  (b)   sets out the money that goes into, and can be paid out of, the OSTF; and

  (c)   has rules relating to TPS levies.

  The OSTF provides the money for refunds under Part   5 for defaults where registered providers fail to discharge their obligations to overseas students. The money in the OSTF is mostly made up of the TPS levies collected from registered providers each year.

•   Division   3 of this Part establishes the office of the TPS Director, and his or her terms and conditions. The TPS Director is responsible for:

  (a)   assisting students to find suitable alternative courses, and providing refunds, in the case of defaults; and

  (b)   working out the amount of the TPS levy each year ; and

  (c)   managing the OSTF.

•   Division   4 establishes the TPS Advisory Board, the Board members' terms and conditions, and how Board meetings are to be conducted. The Board is responsible for providing advice and making recommendations to the TPS Director on setting the TPS levy each year.