Directions by Minister
s 19
Open ↗19. The Minister may give to the Agency such directions, not inconsistent with this Act, as the Minister thinks fit as to the administration of the Fund and the Agency must give effect to such directions.
Source
Skills Development Levy Act 1979 PART 5 — MISCELLANEOUS
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗
Financial provisions
s 20
Open ↗20. The financial provisions set out in the First Schedule apply to the Agency in relation to its administration of the Fund.
Annual report
s 21
Open ↗21.—(1) The Agency must, as soon as practicable after the end of each financial year, cause to be prepared and transmitted to the Minister an annual report dealing generally with its administration of the Fund during the preceding financial year and containing such information relating to the proceedings and policy of the Agency in relation to its administration of the Fund as the Minister may, from time to time, direct. (2) The annual report for any financial year must set out any directions given by the Minister under section 19 and must contain a report of any action taken by the Agency during that financial year consequent on the directions. (3) The Minister must as soon as practicable cause a copy of every such report to be presented to Parliament. (4) Despite subsection (1), the Minister may at any time request the Agency to provide the Minister with any information concerning any matter relating to the administration of the Fund by the Agency, and the Agency must provide the Minister with the information required, and give the Minister or the Minister’s representative all necessary facilities for the verification of the information required.[Act 4 of 2023 wef 15/06/2023]
Priority in case of bankruptcy or winding up
s 24
Open ↗24.—(1) In the distribution of property of a bankrupt or a person dying insolvent, there is to be included among the debts that, under section 352 of the Insolvency, Restructuring and Dissolution Act 2018, are to be paid in priority to all other debts the amount of any levy due from the bankrupt at the date of the bankruptcy order, or from the person so dying at the date of the person’s death, and having become due within 12 months before that date.[40/2018] (2) In the winding up of a company, there is to be included among the taxes that, under section 203 of the Insolvency, Restructuring and Dissolution Act 2018, are to be paid in priority to all other unsecured debts the amount of any levy due from the company and having become due within 12 months before the date of commencement of the winding up.[40/2018] (3) In the winding up of a variable capital company, there is to be included among the taxes that, under —(a) section 328 of the Companies Act 1967 as in force before it was repealed by the Insolvency, Restructuring and Dissolution Act 2018 (as applied by section 130 of the VCC Act as in force before the operative date); or (b) section 203 of the Insolvency, Restructuring and Dissolution Act 2018 (as applied by section 130 of the VCC Act as in force on the operative date), are to be paid in priority to all other unsecured debts the amount of any levy due from that variable capital company and that has become due within 12 months before the date of commencement of the winding up. [S 461/2020] (4) In the winding up of a sub‑fund of an umbrella VCC, there is to be included among the taxes that, under —(a) section 328 of the Companies Act 1967 as in force before it was repealed by the Insolvency, Restructuring and Dissolution Act 2018 (as applied by section 33(2) of the VCC Act read with the First Schedule to the VCC Act as in force before the operative date); or (b) section 203 of the Insolvency, Restructuring and Dissolution Act 2018 (as applied by section 33(2) of the VCC Act read with the First Schedule to the VCC Act as in force on the operative date), are to be paid in priority to all other unsecured debts the amount of any levy due from the umbrella VCC — (c) that is allocated to the sub‑fund by the umbrella VCC under section 29(3) of the VCC Act; and (d) that has become due within 12 months before the date of commencement of the winding up of the sub‑fund.[S 461/2020] (5) In this section, “operative date” means the date of commencement of sections 17(b) to (i), 18 to 21, 29, 30, 43 to 48, 50 to 53, 56, 58, 59 and 62 of the Variable Capital Companies (Miscellaneous Amendments) Act 2019.[S 461/2020]
Regulations
s 25
Open ↗25. The Agency may, with the approval of the Minister, make such regulations as are necessary or expedient for carrying out the provisions of this Act and, in particular, such regulations may provide for all or any of the matters specified in the Second Schedule.
Back to Skills Development Levy Act 1979 — full text
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