Section 59
Commencement of repayment of skills training loan
of Skills Development Fund Act 2004
(1)
It shall be the duty of a loan recipient to commence repayment of his skills training loan to the Corporation not later than the time period specified in the loan agreement.
(2)
Notwithstanding subsection (1) and subject to the terms and conditions of the loan agreement entered into between the Corporation and the loan recipient under this Act, the Chief Executive, on application by the loan recipient made before the expiry of the specified time period referred to in subsection (1), may extend the period of time for the commencement of repayment of the skills training loan upon such terms and conditions as the Chief Executive deems fit to impose.
Notice of loan repayment 60.
The Chief Executive shall cause to be issued to each loan recipient a notice specifying the amount and date of commencement of repayment of the skills training loan in respect of each loan recipient before the specified period for the repayment of the loan.
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