Payment of student claims and training completion costs
 47. (1) If a private career college ceases to operate in the circumstances described in subsection 38 (1), the Superintendent shall pay in accordance with this section, (a) the training completion costs referred to in section 45, if the Superintendent approves a person, private career college or organization to provide training completion to the former students of the private career college; and (b) any claims made by former students for expenses under section 42 or for refunds under section 43 or 44.  O. Reg. 414/06, s. 47 (1). (2) The training completion costs referred to in clause (1) (a), (a) shall be paid in priority to any claims by former students referred to in clause (1) (b); and (b) may be paid before the expiry of the time period for making claims under section 46.  O. Reg. 414/06, s. 47 (2). (3) Subject to subsection (4), the Superintendent shall not pay any claims made by former students until the expiry of the time period for making such claims under section 46.  O. Reg. 414/06, s. 47 (3). (4) The Superintendent may pay training completion costs under section 45 or claims under sections 42 to 44 made by former students before the expiry of the time period referred to in subsection (3) if he or she reasonably determines at the time of making the payments that the total amount of the payments will not reduce any payment to former students of another private career college whose security has been declared to be forfeited under section 34 prior to the making of the payments.  O. Reg. 414/06, s. 47 (4). (5) Subject to subsections (6) and (8), the Superintendent shall pay the amounts referred to in subsection (1) out of the Fund, (a) first from the proceeds of the security that was provided by the private career college and declared to be forfeited under section 34; and (b) from General Fund Money, after the proceeds referred to in clause (a) have been exhausted.  O. Reg. 414/06, s. 47 (5). (6) The maximum amount to be paid out of the Fund under subsection (5) shall be the sum of the amount of the proceeds from the security provided by the private career college and 75 per cent of the General Fund Money, as determined on the day the Superintendent makes the payments. O. Reg. 467/16, s. 18. (7) In determining the amount of the General Fund Money under subsection (6), the Superintendent shall not include any General Fund Money allocated to pay amounts referred to in subsection (1) in respect of all private career colleges that ceased to operate in the circumstances described in subsection 38 (1) at any time before the time at which the private career college referred to in subsection (6) ceased to operate.  O. Reg. 414/06, s. 47 (7). (8) If, after the expiry of the time period under section 46 for making student claims, the Superintendent determines that the total amount to be paid out of the proceeds of a forfeited security and out of General Fund Money under subsection (5) exceeds the maximum amount payable under subsection (6), the Superintendent may reduce the payments to be made out of General Fund Money to former students of the college on a proportional basis so that the maximum amount is not exceeded.  O. Reg. 414/06, s. 47 (8).