r. 135 Default

135 For the purpose of subparagraph 133(1)(g)(i), the default of a sponsorship undertaking

• (a)begins when
• (i)a government makes a payment that the sponsor has in the undertaking promised to repay, or
• (ii)an obligation set out in the undertaking is breached; and
• (b)ends, as the case may be, when
• (i)the sponsor reimburses the government concerned, in full or in accordance with an agreement with that government, for amounts paid by it, or
• (ii)the sponsor ceases to be in breach of the obligation set out in the undertaking.