2. A borrower who wishes to reduce the payments applicable to the repayment of the balance of the borrower’s guaranteed loan for the period referred to in section 1 from the amount of interest paid by the Minister under that section must apply to the financial institution. Failing such application, the amount of the interest paid by the Minister is deducted from the balance of the principal of the borrower’s guaranteed loan.
624-2022O.C. 624-2022, s. 2.