Student Fee Protection Rules 2022

11. NZQA approval of Suppliers

  1. Suppliers must be approved in writing by NZQA before operating a Mechanism. For a Supplier to be approved by NZQA they must:
    1. be an independent trustee as defined in section 10(1) of the Act and have no conflict of interest in carrying out the role of trustee for the PTE;
    2. have experience in managing trust accounts that have multiple beneficiaries and frequent transactions;
    3. provide evidence of secure and adequate data processing capacity; and
    4. provide evidence of an ability to resolve competing claims and finalise refunds within the timeframes set out in Criterion 14 of Appendix D.
  2. Where the Mechanism being operated is not a standard trust, NZQA must be satisfied the Mechanism provides equivalent protection to a standard trust.
  3. A Supplier approved under rule 11.1 may not operate or change a Mechanism without NZQA’s written approval.
  4. For the purposes of granting approval under rules 11.1 and 11.3, NZQA must be satisfied that the Supplier will meet, and continue to meet, its obligations in or under the Act, including under these Rules.
  5. NZQA will take into account any previous performance of a Supplier when deciding whether to grant approval under rules 11.1 and 11.3.



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