by Ganesh Sahathevan
Top Education Group (HKEX:1752) did not inform the HKEX that it was trading without its law school being re-accredited for over 3 months. Being a listed entity Top has continuous disclosure obligations.
Accreditation expired on 30 June 2024 and was only renewed on 8 October 2024. This was not the case in 2019 when re-accreditation last occurred.
TO BE READ WITH
Thursday, December 19, 2024
NSW LPAB reaccreditated Top Education Group's law school in October 2024, 3 months after expiration - Students ,prospective students not informed, and Top was in breach of HKSE continuos disclosure rules
by Ganesh Sahathevan
The NSW LPAB has responded in writing to the story below, about Top Education Group Ltd , which trades as Australian National Institute of Management and Commerce. A copy was sent to its chairman NSW Chief Justice Andrew Bell and hence the response.
The Board also records in its Annual Report every year the accreditation processes undertaken during the previous financial year.
The re-accreditation for Australian National Institute of Management and
Commerce’s Bachelor of Laws will be reported in the 2024-25 Annual Report, which
will be released next year.
Clarification was sought as to when exactly e re-accreditation was granted. In response the NSW LPAB said via email:
The Australian National Institute of Management and Commerce’s Bachelor of Laws was reaccredited by the Board at its meeting on 8 October 2024.
This reaccreditation will be reported in the 2024-25 Annual Report, which will be drafted after 30 June 2025 and published towards the end of 2025.
Top Group's law school accreditation expired on 30 June 2024 students but students and prospective students of its law school appear not to have been informed that their law school had not been granted reaccreditation by the due date.
Top was also in breach of HKSE continuous disclosure rules, for the HKEX was never informed of the above delay.
The NSW LPAB has not said anything about the reasons for the delay. It does add to the fishy smell around the granting and continued reaccreditation of this license.
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