Guidelines

Section B: Registration, Administration and Reporting

11 Discontinuance of Lending Business

A lender who discontinues its commercial lending business and sells all its loan including outstanding CSBF loans to another lender must so notify the CSBFP Directorate in writing. The acquired loans will not be included in the calculation of the Minister's liability for the acquiring lender. In effect, each lender's portfolio will continue to be administered separately. Regs s.32

This requirement also applies when one lender acquires another lender.