jswizzle3737/ontario_laws_and_regs huggingface dataset:
8. (1) A borrower to whom a student loan has been made before August 1, 2001, after ceasing to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student and on or before the last day of the sixth month after the month in which the borrower ceases to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student, shall enter into a loan agreement to be known as a consolidated student loan agreement in a form determined by the Minister with the bank to which their obligations under the student loan are owed, which agreement shall determine the amount and duration of the repayments to be made to discharge the principal amount of the student loan and interest on the outstanding balance from time to time. O. Reg. 84/23, s. 2. (2) Where a borrower has entered into a consolidated student loan agreement under subsection (1), and again becomes a student for the purposes of this Regulation or an Ontario Learn and Stay Grant student whose obligations under the consolidated student loan agreement are suspended by the bank, when they again cease to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student and on or before the last day of the sixth month after the month in which the borrower ceases to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student, they shall enter into a new consolidated student loan agreement with the bank to which their obligations under the student loan are owed, in place of the former consolidated student loan agreement which agreement shall determine the amount and duration of the payments to be made to discharge the principal amount of the loan and interest on the outstanding balance from time to time. O. Reg. 84/23, s. 2. Loan Terms and Revision of Loan Terms
1.1 (1) A course of study is an approved course of study for the purposes of student loans if it consists of one or more courses of study of at least 12 weeks duration approved by the Minister leading to a certificate, degree or diploma.  O. Reg. 269/01, s. 3. (2) A bar admission course conducted by the Law Society of Upper Canada is an approved course of study.  O. Reg. 269/01, s. 3. (3) The Minister may withdraw his or her approval for a course of study if the course ceases to meet the requirements established under the Act, terms established by the Minister or terms established in any agreement entered into for the purposes of the Minister’s approval.  O. Reg. 269/01, s. 3.
1.2 (1) The following institutions are eligible institutions for the purposes of student loans: 1.  Every public university in Ontario, including any post-secondary educational institution that is affiliated or federated with such a university. 2.  Every college of applied arts and technology established under the Ontario Colleges of Applied Arts and Technology Act, 2002. 3.  The Collège d’Alfred, the Kemptville College and the Ridgetown College. 4.  The Law Society of Upper Canada. 5.  The Niagara Parks Commission School of Horticulture.  O. Reg. 269/01, s. 3; O. Reg. 167/04, s. 2 (1). (2) An institution described in one of the following paragraphs is an eligible institution for the purpose of student loans if it is approved by the Minister for that purpose: 1.  A public post-secondary institution in Canada that is not described in subsection (1). 2.  A private post-secondary educational institution that is authorized under the Post-secondary Education Choice and Excellence Act, 2000 to operate or maintain a university or to provide all or part of a program leading to a degree. 3.  A private career college registered in Ontario under the Private Career Colleges Act. 4.  A private post-secondary institution in Ontario, other than one described in paragraph 2 or 3. 5.  A private career college operating in another jurisdiction that is authorized by that jurisdiction to operate as a private career college or as an analogous type of school.  O. Reg. 269/01, s. 3; O. Reg. 167/04, s. 2 (2); O. Reg. 281/13, s. 1. (3) Revoked:  O. Reg. 167/04, s. 2 (3).
3. This Regulation applies with respect to student loans made before August 1, 2001 and with respect to the consolidated student loan agreements relating to such student loans and made under section 8.  O. Reg. 269/01, s. 4; O. Reg. 167/04, s. 4.
3.1-7. Revoked:  O. Reg. 167/04, s. 5. Consolidation of Loans
9. (1), (2) Revoked:  O. Reg. 269/01, s. 7 (1). (3) Instalments of the repayment of a student loan shall be applied first to interest accrued to the date of payment and then to the balance of the principal then outstanding.  R.R.O. 1990, Reg. 774, s. 9 (3). (4) The term for repayment of any student loan is such term as the bank, after consultation with the borrower, determines, but where the borrower wishes to repay the whole or any part of the loan at any time before the expiration of the period of repayment specified in the loan agreement, the bank may allow the repayment without notice or bonus.  R.R.O. 1990, Reg. 774, s. 9 (4). (5) Where a borrower advises the bank to which his or her loan is repayable that the terms of the loan agreement are such that he or she will be in default and where the bank is of the opinion that an alteration or revision of any of the terms of the loan agreement will enable the borrower to meet his or her obligation thereunder, the bank and the borrower may alter or revise the agreement.  R.R.O. 1990, Reg. 774, s. 9 (5). (6) The liability of the Minister to the bank under the Act is not discharged by an alteration or revision to a loan agreement that is altered or revised under subsection (5).  O. Reg. 269/01, s. 7 (2). (7)-(9) Revoked:  O. Reg. 269/01, s. 7 (2).
9.1 Revoked:  O. Reg. 334/10, s. 1.
9.2 (1)-(7) Revoked:  O. Reg. 334/10, s. 2 (1). (7.1) Revoked:  O. Reg. 334/10, s. 2 (2). (8) Revoked:  O. Reg. 334/10, s. 2 (3).
9.3, 9.4 Revoked:  O. Reg. 334/10, s. 3. Default
10. (1) Where a borrower fails to enter into a consolidated student loan agreement in accordance with section 8 or where default is made in the payment of any instalment under such consolidated student loan agreement and such default continues for thirty days, the entire unpaid principal amount of the loan and interest payable by the student that has accrued thereon shall become due and payable on the date thereafter that is determined by the bank, the interest being at such rate, as may be determined by the bank, not exceeding the rate that would have been payable under section 16 had a consolidated student loan agreement been entered into between the bank and the borrower on that date.  R.R.O. 1990, Reg. 774, s. 10 (1); O. Reg. 167/04, s. 9 (1). (1.1) Revoked:  O. Reg. 167/04, s. 9 (2). (2) Where the entire amount of the balance outstanding on a loan becomes due and payable in accordance with subsection (1), the bank, without in any way discharging the liability of the Minister to the bank under the Act, may take such measures as it considers advisable including, (a)  to alter or revise the terms of the loan agreement in accordance with section 9; or (b)  to effect collection of the amount of the loan outstanding.  R.R.O. 1990, Reg. 774, s. 10 (2). (3) Subsection (4), determining the date of default, applies in respect of the student loan of a borrower who, (a)  does not provide the bank to which his or her obligations under the loan are owed with confirmation of enrolment in accordance with section 3; and (b)  fails to enter into a consolidated student loan agreement in accordance with section 8.  R.R.O. 1990, Reg. 774, s. 10 (3). (4) The borrower under subsection (3) shall be deemed to be in default on the earlier of, (a)  the first day of the seventh month immediately following the month recorded as the end of the period of the approved course of studies for which he or she received a loan under the Act as set out on the last confirmation of enrolment accepted by the bank; or (b)  the first day of the seventh month immediately following the month in which the borrower ceases to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student, where the bank is advised of this event.  R.R.O. 1990, Reg. 774, s. 10 (4); O. Reg. 84/23, s. 3. (5) When a borrower defaults on his or her obligation to make payments under a consolidated student loan agreement, the Minister may, (a)  deny the borrower the status of a qualifying student under section 11 or 11.1 during a period of study during which he or she does not receive a student loan; or (b)  refuse the borrower any repayment assistance under sections 36 to 47 of the 2017 Regulation.  O. Reg. 167/04, s. 9 (3); O. Reg. 334/10, s. 4; O. Reg. 71/17, s. 3. Reinstatement of Status as Student
11. (1) A borrower shall be deemed to be a student for the purposes of this Regulation during a period of study in respect of which he or she does not receive a student loan if the borrower complies with this section.  O. Reg. 167/04, s. 10 (1). (1.1) The individual must be a Canadian citizen or a permanent resident within the meaning of the Immigration and Refugee Protection Act (Canada).  O. Reg. 121/10, s. 2. (2) The borrower must obtain a document from the institution at which he or she is enrolled, confirming, (a)  that he or she is enrolled in an approved course of study at an eligible institution during the period, and that he or she is taking at least the minimum required course load; (b)  that he or she is enrolled at a secondary school within the meaning of the Education Act
and that he or she is taking at least the minimum course load required under subsection (2.1); (c)  that he or she is enrolled at a designated educational institution as defined in the Canada Student Financial Assistance Act and that he or she is taking at least the minimum course load required under subsection (2.1); or (d)  that he or she is enrolled at an educational institution not described in clause (a), (b) or (c) that is approved by the Minister for the purposes of this section and that he or she is taking at least the minimum course load required under subsection (2.1).  O. Reg. 269/01, s. 9; O. Reg. 167/04, 10 (2); O. Reg. 198/13, s. 2. (2.1) For the purposes of clause (2) (b), (c) or (d), the minimum course load that a borrower who is enrolled at an institution described in one of those clauses must take in order to be deemed to be a student for the purposes of this Regulation is, (a)  a course load that is at least 60 per cent of what the institution considers to be a full course load for the borrower’s course of study, in the case of an borrower who is not a person with a disability; and (b)  a course load that is at least 40 per cent of what the institution considers to be a full course load for the borrower’s course of study, in the case of an borrower who is a person with a disability.  O. Reg. 167/04, s. 10 (3). (3) The confirmation of enrolment must be given on a form approved by the Minister and must be certified by the institution at which the borrower is enrolled.  O. Reg. 269/01, s. 9. (4) The borrower must give the bank the confirmation of enrolment form promptly upon becoming enrolled as described in subsection (2).  O. Reg. 269/01, s. 9. (5) The borrower shall be deemed under this section to be a student for the purposes of this Regulation beginning on the date on which the bank receives the confirmation of enrolment form.  O. Reg. 269/01, s. 9. (6) An individual who is a qualifying student for the purposes of the 2001 Regulation or the 2017 Regulation is deemed to be a student for the purposes of this Regulation. O. Reg. 71/17, s. 4.
11.1 (1) Even though a borrower does not comply with section 11, he or she shall be deemed to be a student for the purposes of this Regulation during a period of study, if he or she establishes to the satisfaction of the Minister that, (a)  the borrower was unable to obtain a confirmation of enrolment form under section 11; and (b)  the circumstances that are required in order to obtain a confirmation of enrolment under clause 11 (2) (a), (b), (c) or (d) exist. (c)  Revoked:  O. Reg. 167/04, s. 11. O. Reg. 269/01, s. 9; O. Reg. 167/04, s. 11. (2) The borrower must obtain from the Minister a confirmation of enrolment form under this section and must give it to the bank promptly.  O. Reg. 269/01, s. 9. (3) The borrower shall be deemed under this section to be a student for the purposes of this Regulation beginning on the date on which the bank receives the confirmation of enrolment form.  O. Reg. 269/01, s. 9.
11.2 (1) While a borrower is deemed, under subsection 11 (5) or 11.1 (3), to be a student, the bank shall suspend his or her obligations under the student loan agreement and under the consolidated student loan agreement to pay principal and interest.  O. Reg. 269/01, s. 9; O. Reg. 167/04, s. 12; O. Reg. 198/13, s. 3. (1.1) While a borrower is deemed, under subsection 11 (5) or 11.1 (3), to be a student, his or her obligations to pay principal and interest under a micro-credential student loan agreement or a repayment notice, if any, are suspended. O. Reg. 771/20, s. 2; O. Reg. 84/23, s. 4 (1). (2) The bank is not authorized to suspend the obligations of the borrower under subsection (1) unless the borrower has entered into a consolidated student loan agreement and has signed the agreement.  O. Reg. 269/01, s. 9; O. Reg. 167/04, s. 12. (3) If the borrower owes interest to the bank under the student loan agreement or the consolidated student loan agreement, if any, for a period during which he or she was not a student, and if the bank asks the borrower to pay the accrued interest for that period, subsection (1) does not apply until the borrower pays the accrued interest.  O. Reg. 269/01, s. 9; O. Reg. 167/04, s. 12. (3.1) If the borrower owes interest to the Minister under a micro-credential student loan agreement or repayment notice, if any, for a period during which he or she was not a student, and if the Minister asks the borrower to pay the accrued interest for that period, subsection (1.1) does not apply until the borrower pays the accrued interest. O. Reg. 771/20, s. 2; O. Reg. 84/23, s. 4 (2). (4) The borrower is not permitted to pay the accrued interest by means of a promissory note.  O. Reg. 269/01, s. 9.
12.-13. Revoked: O. Reg. 71/17, s. 5.
13.1, 13.2 Revoked: O. Reg. 334/10, s. 5. Restrictions on Future Eligibility for Benefits in respect of Student Loans
14. (1) The rights of a bank against a borrower in respect of a student loan shall terminate upon the death of the borrower, and the Minister shall pay to the bank whose rights against a borrower are terminated under this section, the amount of principal and interest payable by the borrower at the time of his or her death as determined under subsection (4).  R.R.O. 1990, Reg. 774, s. 14 (1). (2) Despite subsection (1), where a borrower to whom a student loan has been made by a bank, (a)  dies and notice of his or her death is not received by the bank within thirty days of the day of his or her death; or (b)  disappears under circumstances that, in the opinion of the Minister, raise beyond a reasonable doubt a presumption that the borrower is dead, the Minister shall pay to the bank the amount of principal and interest as determined under subsection (5) to have been payable by the borrower, on such day after the borrower’s death or disappearance as the Minister may fix, and all rights of the bank against that borrower in respect of that student loan terminate on that day.  R.R.O. 1990, Reg. 774, s. 14 (2). (3) A bank making a claim pursuant to subsection (2) shall provide evidence satisfactory to the Minister of the death or disappearance of the borrower.  R.R.O. 1990, Reg. 774, s. 14 (3). (4) The amount payable by the Minister to a bank pursuant to subsection (1) shall be the amount of the unpaid balance of principal payable by the borrower at the time of his or her death and the interest that has accrued thereon to the last day of the month in which the borrower died.  R.R.O. 1990, Reg. 774, s. 14 (4). (5) The amount payable by the Minister to a bank pursuant to subsection (2) shall be the amount of the unpaid balance of principal payable by the borrower at the date fixed by the Minister following the death or disappearance of the borrower and interest that has accrued thereon to that date.  R.R.O. 1990, Reg. 774, s. 14 (5). Misrepresentation
15. Where a bank discovers that a document pertaining to a student loan contains a false statement, the bank may take any action that it considers proper in the circumstances and shall immediately report the matter to the Minister.  R.R.O. 1990, Reg. 774, s. 15. Interest
16. (1) In this section, “basic rate” means the minimum commercial rate of interest offered by the head office of the lending bank in the Province of Ontario on the first day of each fiscal quarter of the lending bank.  R.R.O. 1990, Reg. 774, s. 16 (1). (2) In this section, “prime rate” means the minimum commercial lending rate of interest offered at the head office of the lending bank in the Province of Ontario on any given day.  R.R.O. 1990, Reg. 774, s. 16 (2). (3) The rate of interest payable on any day by a borrower pursuant to a consolidated student loan agreement or, if the borrower fails to enter into a consolidated student loan agreement in accordance with section 8, pursuant to a student loan agreement is the prime rate on that day plus 1 per cent. O. Reg. 72/19, s. 1 (1). (3.1) Revoked:  O. Reg. 121/10, s. 3 (1). (4) The rate of interest payable by the Minister to a bank in respect of a student loan shall be the basic rate in effect on the date on which the loan was made by the bank and thereafter at the basic rate in effect on the first day of each fiscal quarter in respect of the period prescribed in subsection (5).  R.R.O. 1990, Reg. 774, s. 16 (4). (5) A student is not required to make payments towards interest on a student loan, (a)  in respect of any period while he or she is a student; or (b)  in respect of the period in which the interest is accruing from the day the student ceases to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student to the last day of the sixth month after the month in which the borrower ceases to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student. O. Reg. 72/19, s. 1 (2); O. Reg. 84/23, s. 6. (6) The Minister shall pay to a bank in respect of each student loan that a borrower is obliged to pay to the bank, interest thereon at the rate prescribed in subsection (4) in respect of the period prescribed in subsection (5).  R.R.O. 1990, Reg. 774, s. 16 (6). (7) Revoked:  O. Reg. 334/10, s. 7.
16.1 (1) Despite subsection 16 (5), an individual is not required to make payments toward the interest accruing on a student loan in respect of the period from the day the individual ceases to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student to the last day of the 12th month after the month in which the borrower ceases to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student where the Minister determines that the individual is employed in or does voluntary work that is eligible employment with an eligible not-for-profit entity.  O. Reg. 84/23, s. 7. (2) To be eligible for a determination under subsection (1), an individual must submit a completed application form, as approved by the Minister, to the bank to which his or her obligations under the student loan are owed before the end of the six-month period set out in subsection 16 (5).  O. Reg. 215/12, s. 2. (3) The application form shall include an attestation, in a form approved by the Minister, that is to be completed by a person who is authorized by the governing body of the eligible not-for-profit entity to complete the attestation form on behalf of the entity which, (a)  verifies that the individual is employed by or doing voluntary work for the eligible not-for-profit entity and that the individual’s employment or voluntary work falls within the meaning of the definition of eligible employment as set out in subsection 1 (1); and (b)  provides, (i)  evidence of the eligible not-for-profit entity’s status as a registered charity, in the case of an entity that is a registered charity, or (ii)  the eligible not-for-profit entity’s corporation number or legal name, in the case of an entity that is not a registered charity but is a corporation incorporated as a not-for-profit corporation or similar entity.  O. Reg. 215/12, s. 2.
16.2 (1) An entity is an eligible not-for-profit entity for the purposes of this Regulation if, (a)  the entity is a registered charity within the meaning of the Income Tax Act (Canada) and is in good standing with the Canada Revenue Agency; or (b)  the entity is a corporation incorporated as a not-for-profit corporation or similar entity under an Act of Canada or a province or territory of Canada and is in good standing under the Act.  O. Reg. 215/12, s. 2. (2) The following are not eligible not-for-profit entities for the purposes of this Regulation: 1.  The Government of Canada or a municipal, provincial or territorial government in Canada or an agency of any such government. 2.  A local board within the meaning of subsection 1 (1) of the Municipal Act, 2001 and a local board within the meaning of subsection 3 (1) of the City of Toronto Act, 2006. 3.  A district social service administration board within the meaning of subsection 1 (1) of the District Social Services Administration Boards Act. 4.  Revoked: O. Reg. 404/17, s. 1. 5.  An elementary, secondary or post-secondary educational institution, whether or not it receives regular operating grants from Canada or a province or territory of Canada. 6.  A public hospital within the meaning of the Public Hospitals Act or a private hospital within the meaning of the Private Hospitals Act.  O. Reg. 215/12, s. 2; O. Reg. 404/17, s. 1. (3) A registered charitable foundation associated with an entity described in subsection (2) may be an eligible not-for-profit entity for the purposes of this Regulation.  O. Reg. 215/12, s. 2. (4) Where an individual is employed by or does voluntary work for an entity described in subsection (2) and the entity is a registered charity that meets the requirements of clause (1) (a), the individual may be deemed to meet the requirements of eligible employment with an eligible not-for-profit entity if the Minister is satisfied that the individual’s employment or voluntary work consists entirely or predominately of administering or promoting the charitable activities of the entity.  O. Reg. 215/12, s. 2. (5) For the purposes of subsection (4), examples of administering or promoting charitable activities include raising charitable donations and administering charitable funds.  O. Reg. 215/12, s. 2. Exception
16.3 (1) Despite subsection 16 (5), an individual is not required to make payments toward the interest accruing on a student loan in respect of the period from the day the individual ceases to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student to the last day of the 12th month after the month in which the borrower ceases to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student where the Minister determines that,  (a)  the individual is the sole or joint owner or controlling shareholder of a business operating in Ontario; (b)  the business was started or acquired by the individual in the calendar year in which the individual submits his or her application under this section or within the two previous calendar years; (c)  the business is registered with the Canada Revenue Agency; and (d)  the individual is working a minimum of 30 hours per week in the business. O. Reg. 281/13, s. 2; O. Reg. 72/19, s. 3; O. Reg. 84/23, s. 8. (2) To be eligible for a determination under subsection (1), an individual must submit a completed application form, as approved by the Minister, to the bank to which his or her obligations under the student loan are owed before the end of the six-month period set out in subsection 16 (5). O. Reg. 281/13, s. 2. (3) The application form shall include an attestation, in a form approved by the Minister, that is to be completed by the applicant attesting that he or she meets the requirements set out in subsection (1). O. Reg. 281/13, s. 2. Quarterly Interest Payment
17. (1) The Minister shall pay to a bank within twenty-one days following the last day of January, April, July and October in each year the interest owing to the bank under subsection 16 (5) as calculated by the Minister.  R.R.O. 1990, Reg. 774, s. 17 (1). (2) Every payment of interest made under subsection (1) is subject to review at the request of the bank and an adjustment of interest payment may be made upon verification of the amount payable.  R.R.O. 1990, Reg. 774, s. 17 (2). (3) Where a calculation of interest by the Minister varies from that of a bank by reason of a difference in the method used to calculate the interest, the interest as calculated by the Minister shall be the interest payable to the bank by the Minister.  R.R.O. 1990, Reg. 774, s. 17 (3). Subrogation
18. Where the Minister has paid to a bank the amount of a loss sustained by the bank as a result of a student loan, the Crown in right of Ontario is thereupon subrogated in and to all the rights of the bank in respect of the student loan and, without limiting the generality of the foregoing, all rights and powers of the bank in respect of the student loan and any Judgment obtained by the bank in respect of the loan, are thereupon vested in the Crown in right of Ontario and the Crown in right of Ontario is entitled to exercise all the rights, powers and privileges that the bank had or might exercise in respect of the loan or Judgment, including the right to commence or continue any action or proceeding, to execute any release, transfer, sale or assignment, or in any way collect, realize or enforce the loan or Judgment.  R.R.O. 1990, Reg. 774, s. 18; O. Reg. 84/23, s. 9. Claims for Loss
19. (1) A claim for loss by a bank in respect of a student loan may be made in a form satisfactory to the Minister, (a)  in the case of a claim made under section 14, at the earliest date that evidence of the death, or disappearance of the borrower is available to the bank; and (b)  in the case of a claim for loss, other than a claim under section 14 at any time after the student loan has been in default for sixty days, except where in the opinion of the bank the circumstances are exceptional, including a bankruptcy or insolvency, in which case a claim may be submitted prior to the expiration of sixty days and such claim may be paid at the discretion of the Minister.  R.R.O. 1990, Reg. 774, s. 19 (1). (2) The amount of loss sustained by a bank as a result of a student loan for which a claim for loss may be submitted may include, (a)  the unpaid principal amount of the loan; (b)  the uncollected earned interest on the student loan calculated to, (i)  the last day of the month in which the borrower died or such later date as may be fixed by the Minister in the case of a claim made under section 14, or (ii)  the date the claim is approved for payment in the case of a claim other than a claim referred to in subclause (i); (c)  any uncollected assessed costs for or incidental to legal proceedings in respect of the loan; (d)  legal fees, legal costs and legal disbursements, whether assessable or not, actually incurred by the bank, whether with or without litigation, in collecting or endeavouring to collect the loan or to protect the interests of the Minister, but only up to the amount that the Minister may allow; and (e)  other disbursements actually incurred by the bank in collecting or endeavouring to collect the loan or to protect the interests of the Minister, but only up to the amount that the Minister may allow.  R.R.O. 1990, Reg. 774, s. 19 (2). (3) A claim for loss shall be approved for payment by the Minister within thirty days from the receipt thereof and shall be paid forthwith.  R.R.O. 1990, Reg. 774, s. 19 (3). (4) Upon payment of a loss in respect of a student loan being made by the Minister to a bank, the bank shall execute a receipt in a form satisfactory to the Minister and shall send the receipt to the Minister together with such applications, agreements and other documents relating to the loan as the Minister requests.  R.R.O. 1990, Reg. 774, s. 19 (4). (5) A document purporting to be a receipt, in a form satisfactory to the Minister and purporting to be signed on behalf of a bank, shall be evidence of the payment by the Minister to the bank under the Act in respect of the loan therein mentioned and of the execution of the document on behalf of the bank.  R.R.O. 1990, Reg. 774, s. 19 (5). Recoveries
20. Where payment is made by the Minister to a bank in respect of a student loan, the bank shall remit all amounts that may be collected or realized by it pursuant to the student loan in a manner satisfactory to the Minister.  R.R.O. 1990, Reg. 774, s. 20. Lost or Stolen Certificates
21. Where the certificate of loan approval issued to a student is lost or stolen, the student may apply to the Minister or an officer authorized under subsection 25 (1) for a replacement certificate of loan approval and where the Minister or such officer is satisfied that the certificate has been lost or stolen, may issue or cause to be issued a replacement certificate of loan approval to the student.  R.R.O. 1990, Reg. 774, s. 21. Liability of the Minister
22. (1) Where a false statement is made by a borrower in a document pertaining to a student loan, the liability of the Minister to the bank shall not for that reason be discharged to any extent even though the document is scrutinized and checked by an officer of the bank with the care required of him or her by the bank in its ordinary business.  R.R.O. 1990, Reg. 774, s. 22 (1). (2) The liability of the Minister is not discharged where a loan is made to a borrower who wrongfully files with the bank a lost or stolen certificate of loan approval and where it is scrutinized and checked by an officer of the bank with the care required of him or her by the bank in its ordinary business.  R.R.O. 1990, Reg. 774, s. 22 (2). Transfer or Assignment
23. (1) Where a borrower and a bank agree that the bank will accept the transfer or assignment to it of a student loan agreement and a consolidated student loan agreement, if any, from the bank to which the obligations of the borrower under the agreement are owed, the borrower may apply to the bank to which his or her obligations under the agreement are owed for such a transfer or assignment and that bank shall forthwith, on receipt of the application of the borrower, transfer or assign the agreement to the bank that has agreed to accept it.  R.R.O. 1990, Reg. 774, s. 23 (1). (2) Where an agreement is transferred or assigned under subsection (1), the bank to which the agreement is transferred or assigned shall pay to the bank from which the agreement is transferred or assigned an amount equal to the principal amount of the loan outstanding as of the date of the transfer or assignment and any interest payable by the borrower that will have accrued as of that date.  R.R.O. 1990, Reg. 774, s. 23 (2). (3) A transfer or assignment made under subsection (1) shall be in a form satisfactory to the Minister.  R.R.O. 1990, Reg. 774, s. 23 (3). Reports to Minister
24. Each bank shall make reports to the Minister respecting all outstanding student loans processed by it in such form and containing such information with respect to the student loans as the Minister may from time to time require, including copies of all documents relating to student loans processed by it.  R.R.O. 1990, Reg. 774, s. 24. Authorized Officers
25. (1) The Deputy Minister and the Director, Student Financial Assistance Branch, are authorized to approve loans under section 8 of the Act.  R.R.O. 1990, Reg. 774, s. 25 (1); O. Reg. 280/97, s. 8; O. Reg. 334/10, s. 8. (2) The Minister may authorize the use of a facsimile signature of an officer of the Ministry mentioned in subsection (1) to be affixed to a certificate of loan approval by the use of a rubber stamp or by printing, lithographing, engraving or by other mechanical means.  R.R.O. 1990, Reg. 774, s. 25 (2).
26. Revoked:  O. Reg. 269/01, s. 13.