Marginal note:List of measures
(a) denial of financial assistance for a specified period;
(b) termination of any interest-free period;
(c) denial, for a specified period, of deferral of payments of principal or interest, or termination of any such deferral;
(d) denial, for a specified period, of any agreement to allow repayment of an apprentice loan on an income-contingent basis as provided for in sections 10 and 12, or termination of any such agreement; and
(e) imposition of a requirement for repayment, without delay, of any outstanding amount of an apprentice loan obtained by reason of a false statement or misrepresentation or the provision of false or misleading information.
Marginal note:Specified periods
(2) Subject to subsection (3), the following are the specified periods for the purposes of paragraphs (1)(a), (c) and (d):
(a) if the person is awarded an amount of financial assistance to which they were not entitled,
(i) one year, if the amount is less than $4,000,
(ii) two years, if the amount is $4,000 or more and less than $6,000,
(iii) three years, if the amount is $6,000 or more and less than $8,000,
(iv) four years, if the amount is $8,000 or more and less than $10,000, and
(v) five years, if the amount is $10,000 or more;
(b) if the person is not an apprentice, five years; and
(c) if a measure described in subsection (1) has already been taken in respect of a person under subsection 20(1) of the Act, five years.
Marginal note:Specified period — five years
(3) If more than one period applies to a person under subsection (2), the specified period is five years.
Marginal note:Limitation or prescription — measures
(4) The Minister must not take any measure under subsection (1) later than six years after the day on which he or she becomes aware of the false statement or misinterpretation or the false or misleading information.
Consequential Amendments to the Canada Student Financial Assistance Regulations
Coming into Force
Marginal note:S.C. 2014, c. 20
Footnote *27 These Regulations come into force on the day on which Division 30 of Part 6 of the Economic Action Plan 2014 Act, No. 1 comes into force, but if they are registered after that day, they come into force on the day on which they are registered.
Return to footnote *[Note: Regulations in force January 2, 2015, see SI/2014-100.]
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