Immigration and Refugee Protection Regulations (SOR/2002-227)

Marginal note:Repayment

• 291 (1) Subject to section 292, a loan made under section 289 becomes payable

  • (a) in the case of a loan for the purpose of defraying transportation costs, one year after the day on which the person for whose benefit the loan was made enters Canada; and

  • (b) in the case of a loan for any other purpose, one year after the day on which the loan was made.

• Marginal note:Repayment terms

  (2) Subject to section 292, a loan made under section 289, together with all accrued interest, if applicable, must be repaid in full, in consecutive monthly instalments, within

  • (a) 36 months after the day on which the loan becomes payable, if the amount of the loan is not more than $1,200;

  • (b) 48 months after the day on which the loan becomes payable, if the amount of the loan is more than $1,200 but not more than $2,400;

  • (c) 60 months after the day on which the loan becomes payable, if the amount of the loan is more than $2,400 but not more than $3,600;

  • (d) 72 months after the day on which the loan becomes payable, if the amount of the loan is more than $3,600 but not more than $4,800; and

  • (e) 96 months after the day on which the loan becomes payable, if the amount of the loan is more than $4,800.