24. During a borrower’s full exemption period, the Minister shall pay the interest on the balance of the loan, at the rate fixed by regulation, to any financial institution which has made a guaranteed loan.
During the borrower’s partial exemption period, the borrower must pay the interest on the balance of the loan at the rate fixed by regulation. At the end of this period, any interest not paid by the borrower shall be capitalized.
Despite the second paragraph, the interest on the portion of the loan repaid pursuant to section 22 shall be borne by the Minister.
1990, c. 11, s. 24; 1992, c. 68, s. 156; 1994, c. 17, s. 77; 1997, c. 90, s. 5; 1997, c. 96, s. 165; 1999, c. 43, s. 15; 2003, c. 19, s. 250; 2003, c. 17, s. 18.