If the Director requires it, a training provider providing a tuition based training program must provide the Minister with security in a form and amount that is acceptable to the Director.
The Director may declare any security that has been provided by a training provider under subsection (1) to be forfeited to the Crown in right of Alberta if
the training provider is unable to provide an approved training program or to provide an approved training program to its conclusion, or
the training provider is required to make a refund under section 21(f) of the Act and the training provider is unable or refuses to make the refund.
The Director may use a security forfeited under subsection (2)(a) for any purpose the Director considers appropriate relating to a training provider not providing an approved training program or not providing an approved training program to its conclusion.
The Director must apply the amount of a security forfeited under subsection (2)(b) to the amount of the refund required under section 21(f) of the Act.
If part of a forfeited security is not expended under subsection (3) or (4), the Director must return the security or retain it for the purposes of subsection (1).
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