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Bill C-99

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This enactment amends the Small Business Loans Act with the objective of moving the small business loans program to full cost recovery.

The major elements of the enactment are as follows:

    (a) a reduction in the Minister's liability to pay a loss on any business improvement loan from 90% to 85%, or such other percentage as is fixed by the regulations, of the loss;

    (b) the establishment of an annual administration fee and a restriction on the passing on of the fee to borrowers except through interest rates;

    (c) the establishment of a claim processing fee; and

    (d) the granting of authority to make regulations respecting the release of security taken for the repayment of any business improvement loan.