Government of Canada / Gouvernement du Canada
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Canada Small Business Financing Regulations

Version of section 23 from 2006-03-22 to 2009-03-31:

 Notwithstanding that a lender has not paid the annual administration fee in accordance with section 4, the Minister must pay to the lender the amount of any loss, calculated in accordance with subsection 38(7), sustained, despite subsection 9(2) of the Act, in respect of all loans made by the lender if

  • (a) the non-compliance was inadvertent; and

  • (b) the annual administration fee is paid within 90 days after the day on which notice of the non-compliance is received at the head office of the lender.

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