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Student Fee Protection Rules 2013 (v5)

Agents must ensure they have a written contract in place as described in Rule 13.10, before an Agent receives money from a Student for the purpose of Enrolling, or helping the Student to Enrol, in a Course at a Provider.
Where there is -

a withdrawal by a Student within the relevant Refund Period or a withdrawal after the Refund Period where the Provider’s withdrawal and refund policies allow a refund; or
a voluntary closure or Course cessation by a Provider; or
NZQA gives notice to the Supplier of a Course Closure Event -
and the Agent or any person acting on behalf of the Agent holds any Student Fees (whether through a Supplier or in a trust account or otherwise), the Agent must ensure Students are paid their full refund entitlements.

Agents must retain records demonstrating they are Compliant and provide those records to NZQA on request under section 255A of the Act.
Where an Agent has not availed itself of the alternative arrangements acceptable to NZQA as set out in Rule 9.1 above, the Agent must obtain NZQA approval for any change to their Mechanism and/or Supplier prior to that change occurring.