The Private Training Corporation was created to ensure that students attending private training institutions are protected in the event of a school closure. To achieve this, the Corporation monitors the fiscal health of institutions and manages a Train Out Fund established in the Private Training Institutions Act. The purpose of the Train Out Fund is to ensure that, in the unfortunate event a private training institution closes, appropriate financial resources are available to enable affected students to complete their course of study.
• A member of the Board whose appointment has expired continues to be a member of the board until a successor is appointed.
• Minister designates a chair and vice-chair.
• A quorum is a majority of directors, one of whom must be the chair or vice-chair.
Those who make up the Private Training Corporation should collectively possess the following core competencies:
Members of the Private Training Corporation should possess the following personal attributes:
Members of the Private Training Corporation should be available to meet 2-3 times per year. Where there is the potential for a train out of a private training institution, more meetings may be required. Board members may also be expected to spend additional time to review materials and prepare for Board meetings. The Board may create sub-committees and the number of meetings would be at the discretion of the Chair. Meetings are usually held during normal business hours at the Confederation Building. These meetings normally last 1-2 hours and are held in St. John's. Conference call options are available for representatives who are outside the St. John's area.
Pursuant to Section 4(5) of the Private Training Institutions Act, directors shall not hold office for more than 3 consecutive years and are eligible for reappointment.
The Private Training Corporation board members are not compensated for the time spent attending board meetings but will be remunerated for costs associated with travel to attend meetings. These costs are paid from the Train Out Fund.
Currently, the Student Representative position is vacant. This individual must be a current student attending a private training institution.
The two Community Representative positions will be vacant as of January 25, 2018. One of the Community Representatives will also be appointed as Chair of the Board.
Expressions of interest are being sought from individuals who possess the background, experience and skill-set identified in the board profile above and who can bring unique perspectives to the table. Consideration will also be given to a variety of demographic factors to ensure the board is representative of the population they serve.