A financial or prudential change: what to notify
Financial or prudential change: the notification lines the clauses we hold attach to it, the requirements it touches with why each applies, and the evidence to keep. Each line names its clause and the edition we hold; the decision to notify stays with you.
- notification lines
- 2 possible, depending on the answers
- requirements
- 7 mapped across 4 frameworks
- questions it asks
- 4
What the clauses say: the notification lines
| To | By when | Clause | Applies |
|---|---|---|---|
| Aged Care Quality and Safety Commission | within 14 days of becoming aware | Aged Care Act s 167 and Rules 167-5 to 167-70 | Aged care |
| NDIS Quality and Safeguards Commission | by the earlier of becoming aware it will occur and its occurring | Registration Rules Rules s 13A | NDIS, when: NDIS: is it an adverse change in financial capacity |
The questions it asks
4 questions- What kind of change? (a liquidity event, a change in financial capacity, a change to prudential arrangements, another financial change)
- Which registration does this change sit under? (aged care and NDIS, aged care only, NDIS only)
- NDIS: is it an adverse change in financial capacity?
- Aged care: does the provider hold refundable deposits?
Each has not sure: a line resting on it stays, as a question.
What your change log usually carries for it
A date, a label of your own (a site, a role, a service, never a person's name), the date you became aware, and often a status or an owner. Paste it as it is: the type column reads words such as “financial”, “financial change”, “finance”, “prudential”, “liquidity” and “liquidity event”. The answers go in one cell as key=value pairs.
The requirements it touches, and the evidence to keep
7 rowsAged Care Quality Standards
- ACQS Rules s 15-15(4): The governing body stays accountable and keeps oversight of the provider's financial position.
evidence to keepBoard minute on the change and the response.
Aged Care Act 2024
- Aged Care Act s 167 and Rules 167-5 to 167-70: Section 167 lists financial and prudential changes and liquidity events among the prescribed changes, notified within 14 days of becoming aware.
evidence to keepChange-of-circumstances entry: the change, the date you became aware, the date lodged. - Aged Care Act s 150: The Financial and Prudential Standards that apply to the provider keep applying through the change.
evidence to keepPrudential compliance check after the change, dated. - Aged Care Act s 150A: A provider holding refundable deposits keeps its refundable deposit register current. (when: Aged care: does the provider hold refundable deposits)
evidence to keepRefundable deposit register extract after the change.
NDIS Practice Standards
- NDIS Practice Standards Core 9.4: Strategic and business planning accounts for the change.
evidence to keepBusiness plan revision after the change. - NDIS Practice Standards Core 16.1: Operations are managed so supports are not disrupted by the change.
evidence to keepContinuity check after the change.
NDIS Provider Registration Rules
- Registration Rules Rules s 13A: Rules s 13A(1)(c) lists an adverse change in the provider's financial capacity to provide registered supports. (when: NDIS: is it an adverse change in financial capacity)
evidence to keepNotification of changes and events entry: the change, the date, portal reference.
Check one changeSee the specimen registerThe one-page sample register