Formal and statutory interventions
Formal and statutory interventions
Our monitoring of ensures that the Crown’s residual risk in these institutions is regularly assessed, monitored and managed.
Our monitoring of ensures that the Crown’s residual risk in these institutions is regularly assessed, monitored and managed.
The Secretary for Education issues risk assessment criteria via a notice in the New Zealand Gazette. The risk assessment criteria define what is within scope when assessing risk, and are used to determine whether a formal or statutory intervention is appropriate.
Sections 287, 288, 289, 290, 292, 293 of the allows for formal intervention by the Chief Executive of the TEC or the Minister for Tertiary Education based on the level of risk to the financial and long-term operation of TEIs.
A more graduated interventions framework has been established for polytechnics following the enactment of the Education (Polytechnics) Amendment Act 2009.
This includes the ability to intervene based on possible risk to the educational performance of students. Regarding governance concerns of a polytechnic council, the Minister has the power to dismiss the chair or deputy chairperson or other council member from their role.
For further information on interventions please contact your TEC Investment Manager.
Risk assessment - Gazetted risk criteria
A notice was published in the New Zealand Gazette on 22 January 2015 specifying the risk assessment criteria for tertiary education institutions (TEIs).
- Read the notice in full.
Section 297 of the Education and Training Act 2020 (“the Act”) requires the Secretary for Education to determine and publish in the New Zealand Gazette criteria for assessing the level of risk to the operation and long-term viability of TEIs, and the level of risk to the education performance of students enrolled at polytechnics.
The notice sets out these criteria.
These risk assessment criteria will be considered by our Chief Executive and the Minister for Tertiary Education, Skills and Employment when considering whether an institution is at risk in a way that may warrant intervention under Parts 15 and 15A of the Act.