(Repealed by Higher Education Loans Board Act, Cap 213A)

(Repealed by Higher Education Loans Board Act, Cap 213A)

(Repealed by Higher Education Loans Board Act, Cap 213A)

helb disbursement loans  - LAWS OF KENYA
 

The Higher Education Loans Fund Act

 CAP. 213


Published by the National Council for Law Reporting
With the Authority of the Attorney-General
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CHAPTER 213

The Higher Education Loans Fund Act

Short title. 

    1. This Act may be cited as the Higher Education Loans Fund Act.

Interpretation. 

    2. In this Act, except where the context otherwise requires -

"Board" means the Higher Education Loans Management Board established by section 4;

"Fund" means the Higher Education Loans Fund established by section 3;

"higher education" means any course of education, above, the standard of the School Certificate or any equivalent examination approved by the Board;

"student" means any person undertaking or proposing to undertake higher education with assistance from the Fund.

Establishment of Fund. 
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    3. (1) There is hereby established a fund, to be known as the Higher Education Loans Fund.

(2) The Fund shall be managed and administered by the Board.

Establishment and incorporation of Board.
L.N.649/1963.

    4. (1) There is hereby established a Board which shall consist of a chairman, a deputy chairman and not more than eight other members who shall be appointed by the Minister and who shall hold office during his pleasure:

Provided that, in case of the temporary absence or inability to act of any member of the Board, the Minister may appoint a person to act temporarily in the place of the member so absent or unable to act.

(2) The Board shall be a body corporate, in the name of the Higher Education Loans Management Board, having perpetual succession and a common seal, and shall have the powers and perform the duties and functions imposed upon it or arising under this Act, including the power to hold and dispose of and otherwise deal with land and to sue and be sued in its corporate name.

(3) The seal of the Board shall be authenticated by the signature of the chairman or deputy chairman or one member authorized in that behalf and the secretary, and the seal shall be officially and judicially noticed.



Documents and proceedings of Board. 

    5. (1) All documents issued by the Board or to which the Board is a party, other than those required by law to be under seal, and all decisions of the Board, may be executed or signified by the hand of the chairman or the secretary or by any other member of the Board generally or specially authorized in that behalf.

(2) The chairman or, in the case of his temporary absence, the deputy chairman shall convene and preside at all meetings of the Board.

(3) A quorum of the Board shall be three.

(4) The decisions of the Board shall be by a majority of votes, and the chairman of any meeting shall have an original and a casting vote.

Revenue and expenditure of Fund.
49 of 1952. 

    6. (1) There shall be credited to the Fund -

(a) sums of money which may from time to time be provided for the purpose by the National Assembly;

(b) sums which represent the repayment of the capital and interest of any loan made by the Board;

(c) the income from any investments made by the Board;
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(d) any gifts of money made to the Fund.

(2) Expenditure approved by the Board in connexion with the administration of the Fund according to the provisions of this Act may be met from the revenues of the Fund.

Administration of Fund.

    7. (1) The Board shall, subject to the provisions of this Act, out of the Fund make loans, either with or without security, as it may think fit, to any person to enable or assist students to meet the cost of higher education.
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(2) Every application for a loan shall be made in writing in such form as the Board may require.

(3) No loan shall be made by the Board except pursuant to a resolution of the Board made at a meeting thereof convened for the purpose of considering applications for loans, and no loan shall be made pursuant to any such resolution until security required by the Board has been furnished to and accepted by it.

Conditions for grant of loans.

    8. (1) The Board may -

(a) grant or refuse any application for a loan;

(b) in granting a loan impose conditions, demand security and require repayment in instalments, and at such times and within such period, as it may think fit:

Provided that, with the approval of the Minister and subject to the provisions of this section, the Board may upon the application of any person to whom a loan has been made at any time vary -

(i) the conditions subject to which the loan was made;

(ii) any security given in relation to the loan; or

(iii) any of the terms of repayment of the loan.

(2) Where the Board has resolved to make a loan, it shall notify the applicant in writing and shall require him, within a period not exceeding six months as it may specify, to comply with any conditions and provide any security which it may have imposed or demanded, and to execute and lodge with the Board any documents which the Board may consider to be requisite thereto.
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(3) If a person fails to comply with a requirement of the Board notified to him under subsection (2) within the time prescribed, the application shall be deemed to have lapsed.

General provisions as to loans.

    9. (1) If in the opinion of the Board there has been or is likely to be any breach of or failure to comply with any condition or term of repayment respecting a loan, the Board may forthwith -

(a) recover from the person to whom the loan was made or his personal representatives, as a civil debt, the amount of the loan or the amount thereof then remaining unpaid, together with interest thereon;
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(b) enforce or realize any security relating thereto.

(2) The Board may exercise the powers conferred by subsection (1) (a) or (b) either singly or together.

(3) Where action has been taken by the Board under the foregoing provisions of this section, then, from the date of commencement of that action, the obligations of the Board in respect of the loan which is the subject of the action shall be deemed to have been cancelled, and no claim or right of action shall lie against the Board in respect thereof or, in the case of a loan to be advanced by instalments, in respect of any instalment then remaining unadvanced.

Audit and submission of accounts and report.
L.N.649/1963.
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    10. (1) Appropriate accounts relating to the Fund shall be kept by the Board, and those accounts together with a balance sheet shall be audited annually by the Controller and Auditor-General.

(2) The Board shall submit to the Minister as soon as may be practicable after the 31st day of December in every year a full report upon the administration of the affairs of the Board and the working of the Fund, together with the accounts and balance sheet duly audited in accordance with the provisions of subsection (1).

Investment of excess funds.

    11. The revenues of the Fund shall, in so far as they are not currently required for loans and for the current expenses of the Board, be invested at the discretion of the Board in any investment authorized by law for the investment of trust funds, with power from time to time to vary or realize those investments.

Recall of excess funds.

    12. If the cash and investments of the Fund at any time exceed one hundred thousand pounds, the Minister for the time being responsible for finance may require the Board to pay the amount of the excess into the Consolidated Fund.

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Secrecy and offences.

    13. (1) A person having any official duty or being employed in, or in connexion with, the administration of this Act shall regard and deal with all documents, information, returns and forms relating to applications for advances or to the making of advances under this Act as secret and confidential.

(2) A person having possession of, or control over, or access to, any documents, information, returns or forms relating to a matter referred to in subsection (1) who communicates anything contained therein -

(a) to a person other than a person to whom he is authorized by the Board to communicate it; or

(b) otherwise than for the purposes of this Act,

shall be guilty of an offence.

(3) A person applying for a loan who knowingly fails to disclose to the Board any information or makes a false statement to the Board relating thereto shall be guilty of an offence.

(4) A person guilty of an offence under this section shall be liable, upon conviction by a subordinate court of the first class, to a fine not exceeding two thousand shillings or to imprisonment for a term not exceeding twelve months, or to both.

Regulations.
L.N.649/1963.

    14. The Minister may make regulations generally for better carrying out the provisions of this Act.



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