40.03 (1) The Minister shall pay to the appropriate authority or other body authorized by the Minister for a province the amount that the authority or other body requires to make Canada student grants to qualifying students for a loan year under this Part.

(2) Each appropriate authority or other body shall provide to the Minister at the end of each loan year, or on request of the Minister during a loan year, an accounting of all grants made to qualifying students by that appropriate authority or other body during that loan year or other period identified by the Minister.

(3) An appropriate authority or other body shall repay to the Minister any money provided for a loan year that is not given as grants in accordance with this Part. The overpayment becomes a debt due to Her Majesty in right of Canada on the day after the last day of that loan year.

40.04 (1) The Minister may, by written notice, require a person to repay all or part of a grant, other than a grant awarded under section 34 or 40.022, to the Minister

• (a) if the person is no longer qualified for enrolment or is no longer enrolled as a full-time student or a part-time student, as the case may be, within 30 days after the first day of class unless unforeseen and unavoidable circumstances beyond the control of the person caused that change in status;

• (b) if the person received the grant on the basis of providing inaccurate information or of failing to provide relevant information to the Minister, the appropriate authority or the body authorized by the Minister for a province; or

• (c) if the appropriate authority determines that the person was not entitled to the grant as the result of a reassessment of the person’s need as determined under subsection 12(2) of the Act.

(2) The amount of the grant that is required to be repaid shall be converted into a direct loan.

(3) The Minister may, based on documentary evidence provided within six months after the date of notice of the requirement, cancel or amend a requirement for repayment made under paragraph (1)(a) if the requirement is not justified under that paragraph.

40.05 (1) Subject to subsection (2), for the purposes of paragraphs 17.1(1)(a), (b), (d), (f) and (g) of the Act, the prescribed period is as follows:

• (a) if the amount of assistance awarded in excess of the amount to which the person would have otherwise been entitled is

  • (i) less than $4,000, one year,

  • (ii) $4,000 or more but less than $6,000, two years,

  • (iii) $6,000 or more but less than $8,000, three years,

  • (iv) $8,000 or more but less than $10,000, four years, and

  • (v) $10,000 or more, five years;

• (b) if the person is not a qualifying student, five years; and

• (c) if administrative measures have already been taken in respect of the person under section 17.1 of the Act or section 18.1 of the Canada Student Loans Act, five years.

(2) If more than one period applies to the person under subsection (1), the prescribed period is the longest applicable period.