reg 11
In forceOperation of approved accounts and trust accounts
11 Operation of approved accounts and trust accounts
If, under section 16, an education service provider to which that section applies is directed by the chief executive officer to pay students’ funds into an approved account or an approved trust account the education service provider shall —
(a)
operate the approved account or approved trust account; and
(b)
make payments into and out of the approved account or approved trust account; and
(c)
pay interest derived from students’ funds,
in accordance with the contractual arrangements referred to in section 13(1)(e) and any conditions imposed by the chief executive officer under section 15.
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