St. Marys Paper Inc. Regulations (SOR/87-239)

6 Where a private lender has demanded repayment of a loan insured under these Regulations, the amount payable by the Minister shall not exceed an amount equal to the lesser of

• (a) the amount of insurance in force on the date of demand; and

• (b) 90 per cent of the net loss incurred by the private lender up to a maximum of 15 million dollars.