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Objects of Fund and expenditure of moneys of Fund

Skills Development Levy Act 1979

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—(1) The objects for which moneys of the Fund may be applied are as follows:(a)the promotion, development and upgrading of skills and expertise of persons preparing to join the workforce, persons in the workforce and persons rejoining the workforce;(b)the retraining of retrenched persons;(c)the provision of financial assistance by grants, loans or otherwise for the purposes of the abovementioned objects. (2) In carrying out the objects of the Fund, the Agency may from time to time authorise moneys of the Fund to be paid out and expended for all or any of the following purposes:(a)for establishing or expanding facilities or assisting in the maintenance of facilities for full-time or part-time training courses and training programmes designed to promote the skills or expertise of persons preparing to join the workforce, persons in the workforce and persons rejoining the workforce;(b)for the provision of grants or loans to any employer for equipment required for more sophisticated or skilled operations in the conduct of the employer’s business;(c)for defraying or subsidising the costs incurred by the Agency or by any employer or training institution in the training or retraining of persons preparing to join the workforce, persons in the workforce and persons rejoining the workforce to acquire better skills or expertise;(d)for such other purposes, not inconsistent with the objects of the Fund, as the Minister may approve.

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