Section 53
Revocation of approved skills training loan
of Skills Development Fund Act 2004
(1)
Any loan approved under paragraph 48(a) may be revoked if—
(a)
the applicant applies to revoke the skills training loan;
(b)
the applicant fails to submit the duly signed agreement within the specified time;
(c)
the applicant fails to comply with terms and conditions of the approval;
(d)
the applicant provides any information which he knows to be false, or believes not to be true, or intentionally suppresses any material fact, or furnishes any information which is misleading in any material particular;
(e)
the loan recipient refuses or fails to follow the skills training programme; or
(f)
any other reason deemed reasonable by the Corporation.
(2)
Where a loan is revoked under subsection (1), no disbursement or no further disbursement shall be made by the Corporation.
(3)
Notwithstanding the revocation of a loan under subsection
(1)
, any amount paid and any additional amount chargeable under the terms of the loan agreement shall be recoverable by the
Corporation in accordance with the agreement.