Canada Student Loans Regulations — 9
9 (1) Subject to subsection (8), the outstanding principal and any accrued interest in respect of a guaranteed student loan become payable (a) where the borrower fails to enter into a consolidated guaranteed student loan agreement in accordance with subsection 7(1) or (2) and the borrower does not fulfil the requirements of subsection 3(1) before a judgment is obtained against the borrower and such that the confirmed period on the confirmation of enrolment referred to in paragraph 3(1)(a) begins on or before the last day of the six-month period after the month in which the borrower ceased to be a full-time student, on the day following the last day of that six-month period; (b) where the borrower fails to make a payment pursuant to the borrower's guaranteed student loan agreement or these Regulations and the borrower does not fulfil the requirements of subsection 3(1) before a judgment is obtained against the borrower and such that the confirmed period on the confirmation of enrolment referred to in paragraph 3(1)(a) begins on or before the day that is two months after the day of that failure, on the day following the last day of that two-month period; (c) where the borrower makes an assignment under the Bankruptcy and Insolvency Act that is filed and not cancelled, is deemed under that Act to have made an assignment, or is the subject of a receiving order, on the earlier of the day on which a receiving order is made or the assignment is filed with the official receiver; (d) if the borrower makes a proposal under Division I of Part III of the Bankruptcy and Insolvency Act that is approved by a court under that Act, on the day on which the proposal is approved; (e) if the borrower makes a consumer proposal under Division II of Part III of the Bankruptcy and Insolvency Act that is approved or deemed approved by a court under that Act, on the day on which the consumer proposal is approved or deemed approved; (f) if the borrower applies for a consolidation order under Part X of the Bankruptcy and Insolvency Act that includes a guaranteed student loan or a student loan, on the day on which the order is issued; (g) where the borrower seeks relief under a provincial law relating to the orderly payment of debts, on the day on which the document seeking relief is filed; (h) where the borrower is, by reason of the borrower's conduct in obtaining or repaying a guaranteed student loan or student loan, found guilty of an offence under any Act of Parliament, on the day of the finding of guilt; (i) if the borrower fails to comply with subsection 19.1(1) or 20.1(1), section 20.3 or subsection 24(3) of the Canada Student Financial Assistance Regulations , on the 30th day after the end of the applicable repayment assistance period or after the day of the notice, as the case may be; (j) [Repealed, SOR/2009-201, s. 8] (k) if the borrower has been granted a reduction of the principal amount of a student loan or guaranteed student loan under section 42.1 of the Canada Student Financial Assistance Regulations , or of a risk-shared loan or a guaranteed student loan that entitled the borrower's lender to a gratuitous payment under section 30.1 of these Regulations or under section 42 of the Canada Student Financial Assistance Regulations , on the day on which the reduction is granted. (2) Where the outstanding balance of the principal amount of a guaranteed student loan and any accrued interest become payable pursuant to paragraph (1)(a) or (b), the lender may, without discharging the liability of the Minister to the lender under the Act, (a) offer to alter, with the consent of the borrower and in writing, in accordance with subsection 8(4), any guaranteed student loan agreement or proposed guaranteed student loan agreement to facilitate the discharge by the borrower of the borrower's obligations; or (b) effect collection of the outstanding balance of the principal amount of the guaranteed student loan and any accrued interest that is payable. (3) Sub