Debt Reserve Fund Replenishment Regulations

Marginal note:Notice

• 2 (1) At least 90 days before the day on which a payment is to be made to replenish the debt reserve fund, the Authority must send to the council of every borrowing member with an unpaid loan a notice setting out the amount of the shortfall in the debt reserve fund and the amount required to be paid by that borrowing member as determined under section 3.

• Marginal note:Content of notice

  (2) The notice must identify all defaulting members and the amount of the shortfall attributable to each of them.