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

Version of section 24 from 2006-03-22 to 2009-03-31:

 Notwithstanding that a loan was made contrary to a prohibition set out in any of subsections 5(2) to (4) and (6), the Minister must pay to the lender the amount of any loss, calculated in accordance with subsection 38(7), sustained in respect of the loan if

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

  • (b) the non-compliance was due to inaccurate information having been provided by the borrower to the lender.

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