Debt Reserve Funds Replenishment Regulations

Marginal note:Defaulting member’s charge

• 3 (1) During the period referred to in subsection 2(1), the Authority must determine the charge that each defaulting member must pay to replenish the debt reserve fund for which the notice was sent.

• Marginal note:Liability

  (2) Each defaulting member is liable for the repayment of their share of the shortfall in the debt reserve fund, despite the amount set out in a notice sent under paragraph 4(a) or 4.1(a).