(1) If a delegate of the TSRA:
(a) refuses a loan under section 142F to an individual; or
(b) refuses to give a guarantee under section 142G in respect of a loan made or to be made to an individual;
the individual may, within 30 days after being notified of the refusal, request the TSRA to reconsider the matter.
(2) If a request is made, the TSRA must reconsider the matter and must decide whether to make the loan or to give the guarantee.