84.3(3)An applicant for the issuance, renewal or reinstatement of a driver training course licence, and any holder of such a licence on the commencement of this subsection, shall furnish to the Registrar and maintain a security bond for the sole purpose of compensating former, current or potential students of the course for losses of money, paid to or received by the operator or agent of the operator of the course for the purpose of paying for the course, that arise from failure of the business enterprise, misappropriation or wrongful conversion of the money or suspension or revocation of the operator’s driver training course licence.