Receipt and Deposit of Public Money Regulations, 1997 (SOR/98-128)

3.1 (1) Despite section 3, the portion of the following money that is public money and is collected or received electronically by a service provider must be paid to the credit of the Receiver General by depositing it, within two business days after the day of collection or receipt, in an account established under subsection 17(2) of the Act:

• (a) money collected or received as repayment of financial assistance as defined in subsection 2(1) of the Canada Student Financial Assistance Regulations, as repayment of a guaranteed student loan as defined in subsection 2(1) of the Canada Student Loans Act or as payment of interest owing on that assistance or loan; or

• (b) interest received by the service provider on the money referred to in paragraph (a).

(2) The following definitions apply in this section:

business day

business day means a day other than a Saturday or a holiday. (jour ouvrable)

service provider

service provider means a corporation that has entered into an agreement under subsection 6.2(1) of the Canada Student Financial Assistance Act. (fournisseur de services)

(3) This section expires on March 31, 2018.