|
|
|
|
| Maximum
amount
|
13. Notwithstanding anything in this Act or
any agreement entered into under section 5,
the aggregate amount of outstanding student
loans on which no interest is payable by the
borrowers under subsection 7(1) may not
exceed five billion dollars, except as
otherwise provided by an appropriation Act or
other Act of Parliament.
|
|
|
|
|
|
| Alternative
payment
|
14. (1) Where the government of a province
has, at least twelve months before the
beginning of a loan year, notified the Minister
in writing that a provincial student financial
assistance plan will be in operation in that
province in that loan year and that it does not
wish, or no longer wishes, to participate in the
plan established by this Act and the
regulations, the Minister shall pay to the
province, not later than six months after the
end of that loan year and each following loan
year in which it does not participate in the
plan, an alternative amount for the loan year,
calculated as provided in this section.
|
|
| Non-participat
ing provinces
|
(2) The government of a province that, on
the coming into force of this section, is not
participating in the student loan plan
established by the Canada Student Loans Act
is deemed to have notified the Minister as
described in subsection (1) in respect of the
loan year in which this section comes into
force.
|
|
| Opting in, or
opting back in
|
(3) The government of a province that is not
participating in the plan established by this
Act and the regulations but later wishes to
participate may do so by so notifying the
Minister in writing at least six months, or such
shorter period as the Minister may fix, before
the beginning of the loan year in which it
wishes to participate.
|
|
| Calculation of
alternative
amount
|
(4) The alternative amount for a province
for a loan year (in this subsection referred to
as the ``current loan year'') is the amount, as
determined by the Minister after consultation
with the Chief Statistician of Canada,
obtained by
|
|
|
|
|
|
|
|
(i) the net per capita costs for
participating provinces for the loan year
beginning on August 1, 1990,
|
|
|
|
|
|
|
|
(ii) the product obtained by multiplying
the estimated number of persons in that
province who, on the first day of the
current loan year, have attained eighteen
years of age and have not attained
twenty-five years of age by the escalator
determined under subsection (5), for
each loan year in the period beginning on
August 1, 1991 and ending on July 31 of
the current loan year; and
|
|
|
|
(b) subtracting from the product obtained
under paragraph (a) the net costs for that
province for the current loan year.
|
|
| Escalator
|
(5) For the purposes of
subparagraph (4)(a)(ii),
|
|
|
|
(a) subject to paragraph (b), the escalator
for a loan year is a fraction of which
|
|
|
|
(i) the numerator is the net per capita
costs for participating provinces for that
loan year, and
|
|
|
|
(ii) the denominator is the net per capita
costs for participating provinces for the
previous loan year; and
|
|
|
|
(b) the escalator for the first loan year in
which a provincial student financial
assistance plan will be in operation in the
province, as stated in the notice under
subsection (1), is a fraction of which
|
|
|
|
(i) the numerator is the net per capita
costs for participating provinces for that
first loan year, and
|
|
|
|
(ii) the denominator is the net per capita
costs for the previous loan year for
provinces that are participating
provinces in that first loan year.
|
|
| Definitions
|
(6) In this section,
|
|
``net costs''
« coût net »
|
``net costs'', for a province for a loan year,
means the amount by which
|
|
|
|
(a) the estimated aggregate of all
amounts paid by the Minister in that loan
year
|
|
|
|
(i) to lenders under this Act, the
regulations or an agreement entered
into under section 5, to lenders under
the Canada Student Loans Act or the
regulations made under that Act, and
to collection agencies, in respect of
student loans or guaranteed student
loans made pursuant to certificates of
eligibility issued or caused to be issued
in any loan year by the appropriate
authority for that province, and
|
|
|
|
(ii) to persons pursuant to regulations
made under paragraph 15(p),
|
|
|
|
|
|
|
|
(iii) any amounts paid pursuant to
paragraph 5(e) or pursuant to
regulations made under paragraph
15(o), and
|
|
|
|
(iv) any provincial share paid pursuant
to an agreement or arrangement made
under subparagraph 18(b)(ii),
|
|
|
|
|
|
|
|
(b) the estimated aggregate of all
amounts received by or on behalf of Her
Majesty in right of Canada in that loan
year, including any amount received
pursuant to the Financial Administration
Act, in respect of loans referred to in
paragraph (a), excluding
|
|
|
|
(i) any amounts received pursuant to
paragraph 5(e) or pursuant to
regulations made under paragraph
15(o), and
|
|
|
|
(ii) any amounts received by or on
behalf of Her Majesty in right of
Canada in respect of a provincial share
paid pursuant to an agreement or
arrangement made under
subparagraph 18(b)(ii);
|
|
``net per
capita costs''
« coût net par
tête »
|
``net per capita costs'', for participating
provinces for a loan year, means a fraction
of which
|
|
|
|
(a) the numerator is the amount by which
the total program net costs for that loan
year exceed the aggregate of the net costs
for that loan year for all provinces that are
not participating provinces in that loan
year, and
|
|
|
|
(b) the denominator is the estimated
number of persons in the participating
provinces who, on the first day of the loan
year, have attained eighteen years of age
and have not attained twenty-five years
of age;
|
|
``total
program net
costs''
« coût net
total du
programme »
|
``total program net costs'', for a loan year,
means the amount by which
|
|
|
|
(a) the aggregate of all amounts paid by
the Minister in that loan year
|
|
|
|
(i) to lenders under this Act, the
regulations or an agreement entered
into under section 5, to lenders under
the Canada Student Loans Act or the
regulations made under that Act, and
to collection agencies, in respect of
student loans or guaranteed student
loans made pursuant to certificates of
eligibility issued or caused to be issued
in any loan year by the appropriate
authorities for participating provinces,
and
|
|
|
|
(ii) to persons pursuant to regulations
made under paragraph 15(p),
|
|
|
|
|
|
|
|
(iii) any amounts paid pursuant to
paragraph 5(e) or pursuant to
regulations made under paragraph
15(o), and
|
|
|
|
(iv) any provincial share paid pursuant
to an agreement or arrangement made
under subparagraph 18(b)(ii),
|
|
|
|
|
|
|
|
(b) the aggregate of all amounts received
by or on behalf of Her Majesty in right of
Canada in that loan year, including any
amount received pursuant to the
Financial Administration Act, in respect
of loans referred to in paragraph (a),
excluding
|
|
|
|
(i) any amounts received pursuant to
paragraph 5(e) or pursuant to
regulations made under paragraph
15(o), and
|
|
|
|
(ii) any amounts received by or on
behalf of Her Majesty in right of
Canada in respect of a provincial share
paid pursuant to an agreement or
arrangement made under
subparagraph 18(b)(ii).
|
|
| Exception
|
(7) Amounts paid or received in relation to
subparagraph 5(a)(viii) or section 7, 10 or 11,
or in relation to programs established by
regulations made under paragraph 15(l), (m),
(n) or (p) or under section 11 of the Canada
Student Loans Act, shall be included in the
calculations described in the definitions ``net
costs'' and ``total program net costs'' in
subsection (6) only if the government of the
province satisfies the Minister, by written
notice received by the Minister before the
beginning of the loan year in question, that, in
relation to the matter in question, the
provincial student financial assistance plan
has substantially the same effect as the plan
established by this Act and the regulations.
|
|
|
|
|
|
| Regulations
|
15. The Governor in Council may make
regulations
|
|
|
|
(a) defining the words and expressions
referred to in subsection 2(2);
|
|
|
|
(b) providing for the assignment between
lenders of agreements between borrowers
and lenders, and prescribing the conditions
and consequences of such assignments;
|
|
|
|
(c) providing for the transfer between
branches of a lender of agreements between
borrowers and that lender, and prescribing
the conditions and consequences of such
transfers;
|
|
|
|
(d) providing for the manner of completing
certificates of eligibility, and prescribing
the provisions to be included in those
certificates;
|
|
|
|
(e) providing for the conditions to be met by
a qualifying student before a disbursement
in respect of a student loan may be made to
the student;
|
|
|
|
(f) prescribing the maximum number of
weeks or periods of studies that may elapse
after which, notwithstanding anything in
this Act, the principal amount of a student
loan made to a full-time student, and
interest thereon, commence to be payable
by the borrower;
|
|
|
|
(g) prescribing the circumstances in which
a borrower is or ceases to be a full-time
student;
|
|
|
|
(h) respecting the subrogation of Her
Majesty in right of Canada to the rights of
a lender;
|
|
|
|
(i) prescribing the circumstances under
which a new loan or a new certificate of
eligibility may be denied to a student, or an
interest-free period referred to in
subsection 7(1) may be terminated by the
Minister;
|
|
|
|
(j) prescribing student loans to which
section 7, 8, 10 or 11 or subsection 12(4)
applies;
|
|
|
|
(k) providing for the exchange of
information and records between persons,
bodies or authorities in respect of student
loans or other forms of financial assistance
to students;
|
|
|
|
(l) providing, in respect of student loans
made to full-time students, for the
gratuitous payment, including the method
of calculating it, whether conditionally or
unconditionally, by the Minister to lenders
of amounts in respect of such loans, and for
the discharge of such loans to the extent of
those amounts;
|
|
|
|
(m) notwithstanding any other provision of
this Act, providing for the operation of a
student loan program for part-time students,
including the determination of a student's
status, terms of repayment of the loans, the
advancement of loan funds and the
maximum number of weeks or periods of
studies that may elapse after which the
principal amounts of the loans commence
to be payable by the borrowers;
|
|
|
|
(n) providing for the establishment and
operation of a program to provide special
interest-free or interest-reduced periods to
borrowers, including the terms and
conditions of the granting or termination of
the periods, the making, continuation or
alteration of agreements between
borrowers and lenders when the periods are
granted or terminated and the authorization
of lenders to grant or terminate the periods
and otherwise administer the program;
|
|
|
|
(o) providing, in respect of any province,
for repayment of student loans by
borrowers on an income-contingent basis,
or for the establishment and operation of a
student loan program that is financed by
Her Majesty in right of Canada or any agent
of Her Majesty in right of Canada and that
may provide for the repayment of student
loans by borrowers on an
income-contingent basis;
|
|
|
|
(p) providing for the establishment and
operation of grant programs, and additional
grant programs for qualifying students
whose financial needs are greater than the
maximum amount of the financial
assistance that may be given to the student,
and prescribing classes of persons who are
eligible for grants;
|
|
|
|
(q) prescribing anything that is to be
prescribed by the regulations; and
|
|
|
|
(r) generally, for carrying into effect the
purposes and provisions of this Act.
|
|
|
|
|
|
| Documents
and
information
|
16. Any
|
|
|
|
(a) form or other document to be used in
connection with giving financial assistance
to students, or otherwise for the effective
operation of this Act, or
|
|
|
|
(b) information to be included in any
document referred to in paragraph (a), in
addition to the information otherwise
required by this Act or the regulations to be
included in such a document,
|
|
|
|
must be either determined by the Minister or
approved by the Minister.
|
|
| False
statement or
information
|
17. (1) Every person who, in respect of a
student loan or other financial assistance to a
student, knowingly makes any false statement
or misrepresentation in an application or other
document or wilfully furnishes any false or
misleading information is guilty of an offence
and liable on summary conviction to a fine not
exceeding one thousand dollars.
|
|
| Limitation
period
|
(2) A prosecution for an offence under this
Act may not be instituted later than six years
after the time when the subject-matter of the
complaint arose.
|
|
|
|
*ep
|
|
| Authority to
enter into
agreements
and
arrangements
|
18. The Minister may
|
|
|
|
(a) enter into agreements or arrangements
with any department, board or agency of the
Government of Canada or any other public
or private organization or agency to assist
the Minister in carrying out the purposes
and provisions of this Act; and
|
|
|
|
(b) with the approval of the Governor in
Council, enter into agreements or
arrangements with the government of any
province
|
|
|
|
(i) to facilitate the administration or
enforcement of this Act or to provide for
administrative fees, and
|
|
|
|
(ii) to harmonize and administer federal
and provincial financial assistance
programs for students.
|
|
| Payment out
of C.R.F.
|
19. Any amount payable by the Minister
under this Act, the regulations or an
agreement or arrangement entered into under
this Act may be paid by the Minister out of the
Consolidated Revenue Fund.
|
|
| Report to
Parliament
|
20. The Minister shall, each calendar year,
prepare a report with respect to the
administration of this Act during the loan year
that ended in the immediately preceding
calendar year, and shall cause a copy of the
report to be laid before each House of
Parliament on any of the first fifteen days on
which that House is sitting after the report is
completed.
|
|