Section 61
Recovery and collection of repayments of skills training loan
of Skills Development Fund Act 2004
(1)
For the purpose of the recovery and collection of the repayments of skills training loans—
(a)
the Corporation shall provide the Inland Revenue Board or a collection agent appointed under section 58—
(i)
a copy of the record kept and maintained under section 54;
(ii)
a copy of the notice of loan repayment issued under section 60; and
(iii)
any other particular as may be requested for by the Inland Revenue Board or collection agent; and
(b)
the Inland Revenue Board or the collection agent shall—
(i)
keep and maintain a record of the collection of the repayments made in respect of each loan recipient in such manner and containing such particulars as the Inland Revenue Board or collection agent deems fit and necessary to show the true state of affairs of the collection of the repayments;
(ii)
furnish the Corporation with a copy of the record kept and maintained under subparagraph (i) within such period as may be agreed between the
Corporation and the Inland Revenue Board or collection agent; and
(iii)
not later than the first working day of the following week or month or every quarter of the calendar year as may be agreed between the Corporation and Inland Revenue Board or collection agent, commencing from the first collection of the repayments of the skills training loans, pay to the
Corporation the total sum of repayments collected under this Act together with such returns as the
Inland Revenue Board or collection agent may receive on the sum so collected.
(2)
The Inland Revenue Board or collection agent, in its sole discretion, may devise such administrative methods, procedures and processes to facilitate the collection of the repayments of skills training loans that have fallen due to the Corporation.
Skills Development Fund 37
Lawful methods for collection of repayments of skills training loan 62.
For the purpose of this Act, the Inland Revenue Board or collection agent may use such methods that are permitted under the law to give effect to the collection of the repayments of skills training loan in respect of each loan recipient.
Employer and self-employed person shall assist the Inland
Revenue Board 63.
It shall be the duty of an employer of a loan recipient and the duty of a self-employed person, upon being notified in writing by the Inland Revenue Board—
(a)
to deduct from the wages of the loan recipient or, in the case of a self-employed person, from his own wages such sum of money as is notified by the Inland Revenue Board, being the monthly amount of repayment required of the loan recipient towards the discharge of his skills training loan; and
(b)
to remit the amount so deducted to the Inland Revenue
Board not later than the last day of the month following the month in which his wages is paid.
Notice of Corporation to be conclusive 64.
The notice issued by the Corporation under section 60 shall be conclusive proof of the amount of skills training loan outstanding and due to the Corporation from a loan recipient for the purpose of the recovery and collection of the repayments of that skills training loan by the Inland Revenue Board or a collection agent under this Act.
Payment of commission to collection agents 65.
The Corporation, with the approval of the Minister of Finance, may pay to the Inland Revenue Board or a collection agent appointed under section 58 such rate of commission for services rendered in collecting the repayments of skills training loans.
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