Apprentice Loans Act (S.C. 2014, c. 20, s. 483)

RELATED PROVISIONS

• — 2022, c. 19, s. 167

  • Definitions

    • 167 (1) The following definitions apply in this section.

      apprentice loan

      apprentice loan has the same meaning as in subsection 1(1) of the Apprentice Loans Regulations. (prêt aux apprentis)

      borrower

      borrower has the same meaning as in subsection 1(1) of the Apprentice Loans Regulations. (emprunteur)

      transition period

      transition period means the period beginning on April 1, 2023 and ending on the day on which a regulation amending or repealing section 4 of the Apprentice Loans Regulations comes into force. (période de transition)

    • Repayment of principal and interest

      (2) During the transition period, a borrower must begin to repay the principal amount of an apprentice loan made to them, and any interest, on the last day of the month in which interest would have started accruing under the Apprentice Loans Regulations but for subsection 8(1) of the Apprentice Loans Act, as enacted by section 164.