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SNL2002 CHAPTER S-29.01
STUDENT FINANCIAL ASSISTANCE ACT
2004 c3; 2006 c21; 2006 c40 s18; 2007 c10; 2008 c7; 2008 c46;
AN ACT RESPECTING STUDENT FINANCIAL ASSISTANCE
1. This Act may be cited as the Student Financial Assistance Act .
2. In this Act
(a) "appeal board" means the appeal board established under section 11;
(a.1) "board" means the board of directors of the corporation;
(b) "borrower" means a person to whom financial assistance is given under this Act;
(c) [Rep. by 2012 c15 s1]
(c.1) "corporation" means the corporation established under section 14.1;
(d) "department" means the department presided over by the minister;
(e) "educational institution" means an institution of learning, whether within or outside the province, that offers courses at a post-secondary level and that is designated under section 3;
"federal Act" means the Canada Student Financial Assistance Act
(g) "financial assistance" means a student loan or other form of assistance that has been or may be provided to a student under this Act or the Student Assistance Act in force before the coming into force of this Act;
(g.1) "financial institution" means
a bank to which the Bank Act
(ii) a credit union incorporated or continued under the Credit Union Act , and
(iii) those other persons that are designated by the minister;
(g.2) "lender" means the corporation or a financial institution from which a borrower receives a student loan in accordance with a student loan agreement;
(h) "minister" means the minister appointed under the Executive Council Act to administer this Act;
(i) "qualifying student" means a person who
is a Canadian citizen or a permanent resident within the meaning of the Immigration Act
(ii) is a resident of the province, and
(iii) is qualified for enrolment or is enrolled at an educational institution;
"reserve force" means reserve force as defined in the National Defence Act
(j) "student loan" means money loaned to a borrower under this Act or under the Newfoundland and Labrador Student Loan Program, operating on or after September 1, 1994 in accordance with a student loan agreement between a lender and that borrower; and
"student loan agreement" means an agreement between a lender and a borrower for the receipt of a student loan by the borrower in accordance with this Act or under the
3. (1) A person may apply to the minister to have an institution of learning designated as an educational institution.
(2) Where an application is made under subsection (1), and the applicant meets the requirements established by the Lieutenant-Governor in Council under the regulations, the minister may designate the institution of learning as an educational institution.
4. (1) The minister and the corporation, with the approval of the minister, may, in order to carry out the purpose of this Act, enter into and amend agreements with the government, or an agency of the government, of another province, territory and of Canada with respect to
(a) the exchange of information and records related to student financial assistance;
(b) the joint undertaking of projects;
(c) payment to or by the province of contributions in respect of the cost of projects referred to in paragraph (b); and
(d) the harmonization and administration of federal, provincial and territorial financial assistance programs.
(1.1) In an agreement made under subsection (1), the minister may contract for and on behalf of the corporation.
(2) The minister and the corporation, with the approval of the minister, may enter into an agreement with a person or a private or public agency or organization
(a) with respect to the exchange of information and records relating to student loans and other forms of student financial assistance; and
(b) to promote the purpose of this Act.
(3) The minister and the corporation may, with the approval of the Lieutenant-Governor in Council, enter into and amend an agreement with a lender with respect to the making of student loans and the provision of other forms of financial assistance.
5. The minister may act as an agent of the Government of Canada and may appoint agents to act on behalf of the government of the province for the purposes of this Act.
6. The minister may, in writing, designate the financial institutions that may be lenders under this Act.
Notice of financial assistance
7. (1) A qualifying student may, in the form required by the minister, apply to the minister for financial assistance.
(2) The minister may issue to a qualifying student who applies under subsection (1) a notice of financial assistance provided that the student complies with and meets the requirements established by the regulations.
(3) A notice of financial assistance shall state the social insurance number of the qualifying student and the maximum amount of financial assistance that may be given to that student.
(4) The maximum amount of financial assistance referred to in subsection (3) shall be set in accordance with the regulations.
Rep. by 2004 c3 s6
8. [Rep. by 2004 c3 s6]
Exchange of information
8.1 The department and the corporation, as they consider necessary, may exchange information and documentation, including personal information of a qualifying student or borrower for the purposes and administration of this Act, including the administration and collection of financial assistance under this Act.
No right to payments
9. A person is not entitled as a matter of right to receive, obtain or have paid on account of or in respect of that person an amount of money authorized under this Act.
10. (1) Where, under this Act, a person receives or obtains an amount of money to which he or she is not entitled or an amount of money in excess of the sum to which he or she is entitled, that amount shall be recovered in the manner required by regulation.
(2) Subsection (1) applies notwithstanding that a person has been or will be prosecuted for an offence arising out of his or her receipt of money as described in subsection (1).
11. (1) The minister shall, in accordance with the regulations, appoint a panel of persons to act as a student assistance appeal board.
(2) The appeal board may be divided into one or more committees.
(3) A decision or action of the Student Aid Appeals Committee established under theStudent Allowances Regulations, Newfoundland Regulation 165/87, whether or not that decision or action occurred before or after the lapsing of those regulations, is not invalid by reason of that lapsing or the dissolution of that committee because of that lapsing.
12. (1) A person may make an appeal to the appeal board with respect to a denial, term, condition, amount of a student loan, financial assistance, interest or payment relief made or established under this Act.
(2) Appeals made under subsection (1) shall be made in accordance with the regulations.
(3) The appeal board or a committee of the appeal board shall, in writing and not more than 10 days after the hearing and consideration of an appeal, notify the appellant of its decision and the reasons for that decision.
(4) A decision of a committee of the appeal board and of the appeal board on an appeal is final and binding.
Rep. by 2004 c3 s10
13. [Rep. by 2004 c3 s10]
Rep. by 2004 c3 s10
14. [Rep. by 2004 c3 s10]
(1) The Student Loan Corporation of
(2) The Corporations Act shall not apply to the corporation.
14.2 (1) The corporation is an agent of the Crown.
(2) Property of the corporation is the property of the Crown but title to that property shall be held in the name of the corporation.
(3) The rights and powers granted to the corporation under this Act shall be in addition to the rights and powers conferred on it by section 19 of the Interpretation Act and, notwithstanding that it is an agent of the Crown, the corporation may enforce and exercise all of those rights and powers in its own name.
(4) Legal proceedings in respect of a right or obligation acquired or incurred by the corporation shall be brought by or against it in the name of the corporation.
14.3 The corporation is a lender and may issue student loans under this Act.
Board of directors
14.4 (1) The Lieutenant-Governor in Council shall, by regulation, prescribe the composition of the board of directors of the corporation.
(2) [Rep. by 2008 c7 s2]
(3) The board shall not be disabled from acting by reason of a temporary vacancy in its numbers.
(4) The board shall exercise all of the powers and duties of the corporation and shall administer and manage the business of the corporation.
14.5 The corporation may
(a) enter into agreements and contracts with a person or a private or public agency or organization considered necessary by the board to carry out the powers and duties of the corporation;
(b) appoint agents to act on its behalf for the purpose of this Act and on those conditions that the board may determine;
(c) take for money loaned or otherwise invested, a security of any nature that it considers advisable;
(d) establish accounts with financial institutions for the deposit of its money and from which money may be paid for the purposes of its powers and duties;
(e) subject to the approval of the Lieutenant-Governor in Council, establish a line of credit or an overdraft account with a financial institution for the purpose of its powers and duties;
(f) invest, in accordance with this Act, the money of the corporation that is not immediately required;
(g) draw, make, accept, endorse, execute and issue promissory notes, bills of exchange, cheques, electronic payments, student loan agreements and other negotiable or transferable instruments;
(h) acquire by assignment and by purchase, student loans and rights of lenders under student loan agreements, including student loan agreements of lender financial institutions made under the Newfoundland and Labrador Student Loan Program operating before the coming into force of this section;
(i) assign a student loan made or acquired under this Act to the Crown or a financial institution on terms and conditions that are considered appropriate and guarantee the repayment of that assigned loan including interest or other charges on that loan in accordance with a process approved by the board;
(j) pay out money by way of student loan and financial assistance to qualifying students on terms established under this Act;
(k) collect money owed to the corporation or to the Crown as a result of a student loan agreement;
(l) receive and pay out money required to meet the Crown’s obligations under contracts with lenders or others for the operation and administration of a program of financial assistance; and
(m) generally do all things that the board considers necessary or advisable for or incidental to the exercise of the corporation's powers and for the discharge of its duties and obligations.
14.6 (1) Subject to the approval of the Lieutenant-Governor in Council, the corporation may
(a) borrow money for its purposes and to carry out its powers and duties; and
(b) to secure the repayment of money borrowed,
(i) issue bonds, debentures, notes or other securities of the corporation, and
(ii) enter into, execute and deliver a trust deed, trust indenture or an agreement with a lender, trustee or depository acting for the holders of bonds and debentures or another person,
and the money may be borrowed at the rate of interest and upon the terms and conditions, and the instruments and documents may be issued or executed and delivered in the form, that the Lieutenant-Governor in Council, or, where the authority to do so is delegated to the Minister of Finance by the Lieutenant-Governor in Council, the Minister of Finance, approves.
(2) The securities of the corporation may be made payable in a currency approved by the Lieutenant-Governor in Council and expressed in the security.
Short term borrowing
14.7 (1) The corporation may raise short term loans to fulfil its obligations, duties and powers under this Act
(a) in the manner and form;
(b) in the amounts;
(c) in the currencies;
(d) for a period not exceeding 2 years;
(e) at the rates of interest, including interest on overdue interest; and
(f) on the conditions, including conditions related to discounts, premiums, charges and commission,
that the corporation may determine.
(2) The total of short term loans raised under subsection (1) and outstanding shall not exceed a limit to be fixed by the Lieutenant-Governor in Council.
14.8 (1) The Minister of Finance may, acting for and on behalf of the Crown and with the approval of the Lieutenant-Governor in Council, unconditionally guarantee the repayment of a sum raised under sections 14.6 and 14.7, the payment of interest on the sum, including interest on overdue interest and the payment of a premium.
(2) A guarantee given under this section shall be in a form approved by the Minister of Finance and the form of guarantee shall be signed on behalf of the province by the Minister of Finance whose signature may be engraved, lithographed or otherwise mechanically reproduced on the bonds, debentures, notes or other securities in respect of which the guarantee is given.
(3) A payment that the Crown may be required to make pursuant to a guarantee under this Act shall be paid by the Minister of Finance out of the Consolidated Revenue Fund of the province or it may be paid out of funds provided in the manner prescribed by section 55 of the Financial Administration Act .
14.9 The corporation shall, not later than November 30 in each year, provide to the minister a budget containing the estimated capital and operating expenses of the corporation for the next succeeding financial year.
Order of Lieutenant-Governor in Council
14.10 (1) An order of the Lieutenant-Governor in Council that restricts in whole or in part the powers of the directors of the corporation to manage the business and affairs of the corporation is valid.
(2) To the extent that an order of the Lieutenant-Governor in Council restricts the discretion of the directors of the corporation to manage the business and affairs of the corporation, the directors are relieved of their duties and liabilities to the same extent.
By-laws and meetings
14.11 (1) The board may make by-laws generally for the conduct and management of the affairs of the corporation.
(2) The board shall meet at least once annually and shall, in accordance with the by-laws of the corporation, meet at those other times that the board considers necessary to carry out the duties, powers and obligations of the corporation.
14.12 The financial year of the corporation shall be the same as the financial year of the government of the province.
14.13 The auditor general shall audit the annual financial statements of the corporation.
Money held by the corporation may only be invested in a class or classes of securities authorized for the investment of money in the Consolidated Revenue Fund under section 15 of the Financial Administration Act.
14.15 (1) The corporation shall, in accordance with this Act, provide financial assistance to a qualifying student in an amount that shall not exceed the amount approved by the minister.
(2) The corporation may, upon the instruction of the minister and in accordance with the regulations, credit or debit a borrower’s account with the corporation.
(3) The corporation may pay all or a portion of financial assistance provided under subsection (1) on behalf of a student to the educational institution attended by the student and the receipt of that educational institution for the payment made is a sufficient discharge to the corporation for the amount set out in that receipt with respect to that student’s financial assistance.
Report to minister
14.16 (1) The board shall, not later than June 30 in each year, prepare and submit to the minister a financial statement setting out the assets and liabilities of the corporation, including a copy of the corporation’s audited financial statement, and, in addition, the board shall provide a summary of the amounts used for student loans, grants, bursaries and scholarships and the receipts and expenditures of the corporation for the previous financial year.
(2) The minister shall include the financial statement referred to in subsection (1) with the report required to be prepared and tabled under section 19.
(3) The financial statement referred to in this section shall be signed by the chairperson and one member of the board and certified by the auditor general and shall have attached to it the report that the auditor general has made to the corporation.
(4) The board shall provide to the minister other information that the minister may request for the purpose of his or her report required under section 19.
15. (1) The minister may make regulations
(a) defining, for the purpose of this Act, a word or term not defined in this Act;
(b) respecting the assessment of need for financial assistance under this Act;
(c) respecting the disclosure of financial and other information, reports and documentation for the purpose of this Act;
(d) respecting the payment by borrowers of fees, costs, insurance premiums and insurance coverage, expenses and disbursements, legal or otherwise, incurred by a lender or the Crown in endeavouring to recover student loans made to a borrower under this Act;
(e) respecting qualifying students, full time students, assessments of need and requirements for receiving financial assistance;
(f) respecting the recovery of student loans, awards and grants given in error or in excess of an amount permissible under this Act including the circumstances under which all or part of a grant is to be converted into a student loan;
(g) respecting the composition of a panel of persons to the appeal board, committees of, chairperson of, appeals to, administration and procedures of the appeal board, terms of office and vacancies on the appeal board;
(g.1) respecting the information to be provided by students, qualifying students and borrowers with respect to their obtaining financial assistance;
(g.2) respecting applications for student loans and other financial assistance;
(h) respecting the administration of grant, student loan, debt reduction, relief and remission programs and respecting the persons or classes of persons who are eligible for a grant, loan, debt reduction, relief or remission program;
(i) adopting provisions of the federal Act and regulations made under that Act; and
(j) respecting evidence to be provided and oaths or affirmations to be made for the purpose of the Act.
(2) [Rep. by 2006 c40 s18]
(3) Regulations made under this section may be made with retroactive effect.
Lieutenant-Governor in Council regulations
16. (1) The Lieutenant-Governor in Council may make regulations
(a) to establish requirements for the designation of educational institutions and the standards and requirements necessary to maintain that designation;
(b) to establish circumstances and conditions under which a designation as an educational institution may be revoked and reinstated;
(c) respecting the manner of calculation, total amount and payment of student loans and other financial assistance;
(d) respecting the terms and conditions under which a student loan or other financial assistance may be provided and the information, terms and conditions to be stated in student loan agreements;
(e) respecting interest free periods, payment deferrals for student loans, student loan forgiveness and remission, debt reduction, grant programs, interest relief and debt relief relating to death or disability;
(e.1) setting lower interest rates or eliminating interest for student loan agreements and setting the effective dates for those lowered interest rates or eliminated interest, except where a judgment of the court has been made with respect to a student loan agreement;
(e.2) setting lower interest rates or eliminating interest for debts owed to the Crown or the corporation as a result of the Crown or the corporation fulfilling the obligations of a borrower under a student loan agreement, and setting the effective dates for those lowered interest rates or eliminated interest, excepting debts that are owed to the Crown or the corporation as a result of a judgment of a court;
(e.3) respecting the circumstances in which no interest is payable by members of the reserve force in respect of their student loans;
(e.4) respecting the circumstances in which no fees may be charged to members of the reserve force on their student loans;
(e.5) respecting the circumstances in which no amount on account of principal or interest is required to be paid by members of the reserve force in respect of their student loans;
(f) respecting the assignment, transfer or sale of student loans;
(g) adopting provisions of the federal Act and regulations made under that Act and respecting the application of those provisions;
(h) determining the period during which financial assistance is to be provided;
(i) determining who are borrowers for the purposes of this Act;
(j) respecting interest rates, amortization and repayment of student loans and other financial assistance;
(k) respecting set off, write-offs, overawards and the recovery of money owed to the corporation and to the Crown;
(l) respecting the terms of repayment of student loans under student loan agreements referred to in section 17.1;
(l.1) prescribing the composition of the board; and
(m) generally to give effect to the purpose of this Act.
(1.1) Regulations made under this section may establish different requirements for different classes of student loan agreements and lenders.
(2) Regulations made under this section may be made with retroactive effect.
(3) Regulations made under this section may confer powers or impose duties on the minister with respect to matters dealt with in those regulations.
(4) An interest rate lowered or interest eliminated in accordance with regulations made under paragraphs (1)(e.1) and (e.2) applies to a student loan agreement or a debt owed to the Crown or the corporation as a result of the Crown or the corporation fulfilling the obligations of a borrower under a student loan agreement notwithstanding that that lowered interest rate or eliminated interest is contrary to a term or condition of the applicable student loan agreement.
Procedures, fees and forms
17. (1) The minister may establish policies and procedures for the purpose of the administration and implementation of this Act and regulations.
(2) The minister may set fees and establish forms for the purpose and administration of this Act.
Acquired student loan terms
17.1 (1) The terms and conditions of a student loan assigned to the corporation on or before April 1, 2004 may, notwithstanding any term or condition of a student loan agreement applicable to that student loan, be established or varied in accordance with the regulations to facilitate administrative integration.
Subsection (1) applies to a loan entered into on or before
17.2 (1) Where the total amount required to be paid under the borrower's loans administered under the integration agreement has increased as a result of a change to the terms and conditions of those loans to facilitate administrative integration, the corporation shall upon repayment in full of those loans refund to the borrower the amount of the increase.
(2) Notwithstanding subsection 19.1(2), a borrower may take an action against the corporation to recover a refund under subsection (1).
17.3 In sections 17.1 and 17.2
(a) "administrative integration" means "administrative integration" as defined in the integration agreement; and
"integration agreement" means the Canada-Newfoundland and Labrador Agreement for the Administrative Integration of the Canada Student Loans Program and the
Liability of minors
17.4 (1) A qualifying student under 19 years of age at the time of entering into a student loan agreement is bound by that agreement, and this Act applies as if he or she had attained the age of majority at the time when the contractual liability under that agreement arose.
(2) Subsection (1) applies to a student loan agreement notwithstanding that the agreement was entered into with a lender before the coming into force of this section.
Financial assistance not chargeable etc.
17.5 (1) Money that is financial assistance paid or payable under this Act shall not be charged, attached, anticipated or given as security and is exempt from execution, seizure or attachment and a transaction purporting to assign, charge, attach, anticipate or give as security such financial assistance is void, except where this section is overridden by a provision of another Act.
(2) A notice of garnishment received by the corporation with respect to money received by the corporation to repay a student loan is void.
Subrogation and collection
17.6 (1) Where the corporation or the Crown has paid money to a lender to fulfil the obligations of a borrower under a student loan, the corporation or the Crown has the same right to collect from the borrower the amount paid to the lender and interest that the lender would have had if the corporation or the Crown had not made that payment.
(2) Money owed to the Crown under an agreement, including a student loan agreement, by subrogation or otherwise under this Act, may be collected as a civil debt owed to the Crown.
(3) Money owed to the corporation under an agreement, including a student loan agreement, by subrogation or otherwise under this Act may be collected as a civil debt owed to the corporation.
(4) Where a student loan is assigned to the corporation by a lender, the corporation has the right to collect from the borrower of that student loan the total amount required to be paid by the borrower under the terms of the student loan agreement, as amended by this Act, notwithstanding a payment made by the Crown under an agreement with that lender.
(5) Notwithstanding a provision of another Act, where a borrower is
(a) in default of a student loan owed to the corporation; or
(b) indebted to the Crown with respect to a payment under subsection (1),
the Minister of Finance may recover the amount owed by the borrower from a refund or repayment that may otherwise be made under the Income Tax Act
(6) In a proceeding in a court for the recovery of money owed to the corporation or to the Crown arising out of an agreement or otherwise under this Act, a copy of the account stating the amount owed to the corporation or the Crown may be signed and certified by an officer of the corporation designated by the board or by the minister, as the case may be, and where signed and certified is, in the absence of evidence to the contrary, evidence of the amount due and payable without further proof that that money is owed and without proof of the signature and certification of the officer or minister.
(7) This section applies to payments of the Crown to a lender with respect to a student loan obligation incurred by a borrower whether that obligation arose before or after the coming into force of this section.
(8) This Act shall not affect a remedy of the Crown or the corporation that is available under another Act or law of the province for the recovery of or enforcement of a payment of money.
17.7 For the purpose of the assignment of a borrower’s student loan from
(a) a financial institution to the corporation;
(b) the Crown to the corporation; or
(c) the corporation to the Crown,
the notice requirement of paragraph 103(1)(b) of the Judicature Act shall be considered to be satisfied notwithstanding that express written notice has not been given to the borrower, trustee or other person from whom the assignee is entitled to receive or claim the student loan debt.
17.8 (1) The corporation may, subject to the approval of the Lieutenant-Governor in Council, negotiate and accept a settlement of a debt or claim due or made by or on behalf of the corporation in full settlement of that debt or claim.
(2) The corporation may, upon the recommendation of the Treasury Board, negotiate and accept a settlement of a debt or claim due or made on behalf of the corporation in full settlement of that debt or claim where each settlement results in a deficit of $5,000 or less.
(3) The Treasury Board may authorize the corporation, in accordance with rules that the Treasury Board may establish, to negotiate and accept a settlement of a debt or claim due or made by or on behalf of the corporation in full settlement of that debt or claim where each settlement results in a deficit of $1,000 or less.
(4) Notwithstanding subsections (1), (2) and (3), with respect to a student loan administered under a collections agreement, the corporation may accept a settlement of a debt or claim due or made on behalf of the corporation in full settlement of that debt or claim in accordance with the collections agreement and rules that the board may establish.
17.9 (1) Where it appears unlikely that an amount due to the corporation will be paid but the amount has not been settled under section 17.8, the Treasury Board may direct the corporation that the deficit be written off.
(2) Notwithstanding subsection (1), the corporation may, subject to rules that the Treasury Board may establish, write off deficits of $1,000 or less.
(3) Notwithstanding subsections (1) and (2), with respect to a student loan administered under a collections agreement, where it appears unlikely that an amount due to the corporation will be paid but the amount has not been settled under section 17.8, the corporation may write off the deficit in accordance with the collections agreement and rules that the board may establish.
(4) The writing off of a deficit under subsection (1), (2) or (3) does not affect the obligation of a person from whom the deficit was due to pay it or the right of the corporation to recover it unless the corporation so directs.
(5) In this section and section 17.8, "collections agreement" means a memorandum of understanding relating to student loan collections made under the integration agreement as defined in paragraph 17.3 (b).
Consequences of breach
(1) Where a person is convicted of an offence under this Act, the Canada Student Loans Act
(a) no financial assistance is payable to that person or to his or her benefit on or after the date of conviction; and
(b) the corporation or the minister may demand that the person repay to the corporation financial assistance including interest and interest subsidies paid to or for the benefit of the person.
(2) Where the minister or the corporation determines that a person has contravened this Act, breached a term of an agreement entered into by the person or provided false or misleading information with respect to obtaining financial assistance,
(a) the minister or the corporation may, in accordance with the regulations, demand payment of all or a part of financial assistance made to that person; and
(b) where payment is demanded under paragraph (a), the financial assistance or a part of it is due and payable, together with interest on any outstanding balance of a student loan.
(3) This section does not affect the validity or enforceability of a guarantee provided to a financial institution.
Offence and penalty
18. (1) A person who, either orally or in writing, makes a false statement or misrepresentation or gives false or misleading information for the purpose of obtaining financial assistance under this Act or assisting another person in obtaining financial assistance under this Act commits an offence.
(2) A person who contravenes this Act commits an offence.
(3) A person who commits an offence under this Act is liable on summary conviction to a fine of not less than $500 and not more than $5,000, and for a subsequent offence to a fine of not less than $1,000 and not more than $10,000.
(4) A person who is convicted of an offence under this Act shall not apply for and is not eligible to receive financial assistance under this Act.
(5) Notwithstanding subsection (4), and not less than 3 years after a person has been convicted of an offence under this Act, the minister may, where he or she considers it appropriate, determine that the person may apply for and be granted financial assistance.
19. (1) The minister shall annually prepare a report on the administration of this Act for the preceding academic year and shall table that report before the House of Assembly within 30 days of the completion of the report and if the House of Assembly is not sitting, within 30 days of the commencement of the next sitting.
(2) In addition to a report under subsection (1), the minister may prepare and make public a report on the administration of this Act that may include student financial assistance default rates and write-offs generally and with respect to specific programs and educational institutions.
(3) For the purpose of subsection (1), "academic year" means a year commencing on August 1 of a year and ending on July 31 of the following year.
19.1 (1) An action shall not lie or be instituted against an officer or employee of the corporation or the department, a member of the appeal board, the board, a director, the corporation, the Crown or another person authorized to fulfil a responsibility under this Act for a loss or damage suffered by a person in respect of an act done or omitted to be done pursuant to or in the exercise or supposed exercise of a power, function or duty conferred or imposed under this Act.
(2) An action shall not lie against the corporation or the Crown for damages or a loss arising out of the application of section 17.1.
This Act applies to a student loan agreement and to a student loan made before
RSNL1990 cS-29 Rep.
21. The Student Assistance Act is repealed.
This Act shall be considered to have come into force on