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5. The Circumstances for the purposes of regulation 4 are that the Welsh Ministers consider that, on the Repayment Date, the borrower—
(a)is not in breach of any obligation contained in any agreement for a student loan or in any regulations made under section 22 of the 1998 Act,
(b)does not have outstanding penalties, costs, expenses or charges in relation to such a loan pursuant to any such agreement or regulations, and
(c)has not received a cancellation (including a cancellation of £0.00) under one of the Regulations listed in the Schedule of any of their liability for payment in respect of a loan received from the Welsh Ministers.
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