Notices: Student Loans, Recreational Water, R-ICL

Summary#

This Canada Gazette issue (published February 19, 2022) collects several government notices that affect public programs, environmental guidance, and regulatory lists. Key items include fixed student loan interest rates, final recreational water guidelines for cyanobacteria, the removal of 602 substances from a federal commerce list, approval for a U.S. bank to open in Canada, an insurance company amalgamation, and a call for applicants to many federal appointment opportunities.

What it does#

• Fixes interest rates under the Canada Student Loans Regulations for the loan year August 1, 2021, to July 31, 2022:
  • Class “A” rate: 1.375%
  • Class “B” rate: 2.125%
  • The notice also reminds readers that, because of the Budget Implementation Act, 2021, No. 1, no interest is payable on guaranteed student loans during April 1, 2021 to March 31, 2023.
• Publishes final recreational water guidance from Health Canada called the Guidelines for Canadian Recreational Water Quality — Cyanobacteria and their toxins:
  • Gives numeric guideline values to help decide when water is unsafe for swimming, including total microcystins 10 µg/L, total cyanobacteria cells 50,000 cells/mL, total cyanobacterial biovolume 4.5 mm3/L, and total chlorophyll a 33 µg/L.
  • Notes the document went through a public consultation and is part of a set of technical documents on recreational water safety.
• Removes 602 substances from the Revised In Commerce List (R-ICL) because they were judged to have no current commercial activity in products regulated under the Food and Drugs Act:
  • Removal does not ban these substances. They may still be brought into Canadian commerce, but would be subject to other rules such as the New Substances Notification Regulations (Chemicals and Polymers).
• Notes an approval by the Minister of Finance for The Huntington National Bank to have a financial establishment in Canada (approval dated June 24, 2021).
• Records the amalgamation of Co-operators Life Insurance Company and CUMIS Life Insurance Company into a single company under the name Co-operators Life Insurance Company, and an order allowing the amalgamated company to carry on specified insurance business effective December 31, 2021.
• Announces a broad set of Governor in Council appointment opportunities and invites Canadians to apply (positions and timelines posted by the Privy Council Office).

Who's affected#

• People with Canada student loans and those who follow student-aid policy. (Practically, the interest freeze means most borrowers won’t pay interest during the specified period.)
• Provincial, territorial and local public health officials and beach/water managers who use guidance to protect swimmers.
• People who use lakes, rivers, beaches and other recreational waters — the guidelines give criteria that may trigger warnings or closures.
• Chemical manufacturers, importers, and product makers who previously used or tracked substances on the Revised In Commerce List — they should note that 602 CAS-listed items were removed and that other regulatory steps may apply before bringing those substances to market.
• The Canadian banking and financial supervision community, and potentially customers, because The Huntington National Bank was approved to operate a financial establishment in Canada.
• Policyholders, employees, and business partners of Co-operators Life Insurance Company and CUMIS Life Insurance Company, because the two firms were legally combined.
• Canadians interested in serving on federal boards, commissions, or agencies listed by the Privy Council Office.

Why it matters#

• Student borrowers: the published interest rates are low, but the more important immediate effect is the temporary interest suspension through March 31, 2023, which reduces borrower costs for that period.
• Public health and recreation: the cyanobacteria guideline numbers give clear, science-based thresholds that health authorities can use to warn the public and close beaches to reduce exposure to harmful algal blooms.
• Business regulation: cleaning up the R-ICL helps regulators and industry know which substances currently show no commercial activity in certain regulated products. But removal is not the same as prohibition — businesses still need to follow existing notification rules before bringing substances into commerce.
• Financial and insurance markets: the bank approval and the insurance amalgamation are administrative steps that can change who provides services and how they are organized — this can affect consumers, employees, and regulators.
• Governance: the appointments notice signals ongoing recruitment for many federal boards and agencies, which shapes who will make decisions on public policy and services.