I-0.2, r. 1 - Regulation respecting the granting of loans to foreign nationals in a particularly distressful situation

Section 4 Disposition versions

2012-09-01

4. A foreign national to whom a loan is granted shall undertake to repay the loan:

(1)  in 12 equal and consecutive monthly instalments where the amount of the loan is less than $750;

(2)  in 24 equal and consecutive monthly instalments where the amount of the loan is between $750 and $1,499;

(3)  in 36 equal and consecutive monthly instalments where the amount of the loan is between $1,500 and $2,249;

(4)  in 48 equal and consecutive monthly instalments where the amount of the loan is between $2,250 and $2,999; or

(5)  in 60 equal and consecutive monthly instalments where the amount of the loan exceeds $3,000.

Repayment of the loan shall begin on the first day of the month following the month in which the foreign national receives the loan.

O.C. 466-91, s. 4.