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Change of ownership of PTEs
As part of maintaining registration and programme approval and accreditation, private training establishments (PTEs) must seek NZQA approval of any changes in ownership before the change of ownership takes place.
Types of ownership change
There are different types of ownership change:
1. Sale of shares
A 'sale of shares' is essentially any change of ownership in which the registered entity that owns the PTE remains the same. In this situation, the seller must apply to have the PTE's current registration, programme accreditations, training scheme approvals, and consents to assess confirmed under the new ownership.
2. Sale of assets
A 'sale of assets' is any change of ownership that occurs through the sale and purchase of a registered PTE's assets or operating activities comprising the business that is the PTE. In this situation, the buyer (if not already a registered PTE) must apply for new registration, programme accreditations, training scheme approvals, and consents to assess. The vendor/seller would then request cancellation of the old PTE's registration.
Submit application to NZQA with proposed new ownership information
A representative of the organisation's governing body must submit an application to NZQA with information about the proposed change of ownership. This application must include:
- details of the change, including precise details as to when or how the changes will occur
- an attestation that the organisation has considered, and is managing, the impact of the changes on its primary stakeholders (i.e. learners)
- the sale and purchase agreement and a joint statement by the organisation and prospective purchaser.
- supporting evidence to prove that, despite the proposed change, the organisation or programme continues to meet all registration, accreditation or approval requirements
To seek NZQA approval of the proposed change, make an online application via TEO Self Services:
- Log on to TEO Self Services using your ESAA user ID and password
- Select TEO Applications > Create Application
- Choose Change of Ownership application
- Enter the details in the application wizard. Attach all supporting documentation to the application.
What happens next?
NZQA analyses the application and assesses the appropriateness of the change. The various outcomes are processed simultaneously, to ensure a smooth changeover of the PTE.
NZQA will, as needed:
- cancel existing registration and accreditation
- set up new registration and accreditation
- confirm programme changes, if applicable
- confirm site changes, if applicable.
Cost of change of ownership
NZQA charges $150 per hour (GST exclusive) for analysis of change of ownership applications.
If you have any questions, contact the Service Support team.