Consumer Protection Regulation

Consumer Protection Regulation, M.R. 227/2006 The Consumer Protection Act , C.C.S.M. c. C200 Regulation 227/2006 Registered November 21, 2006 bilingual version (HTML) Table of Contents Section DEFINITIONS 1 Definitions 2 Index rate APPLICATION 3 Application of the Act 4 Application of Part II of the Act COST OF CREDIT 4.1 No deduction from cash price of goods and services 4.2 Value received CREDIT AGREEMENTS 5 APR for certain credit agreements including typical mortgage loans 6 APR as annual interest rate 7 APR for other credit agreements 8 Rebates INITIAL DISCLOSURE STATEMENT FOR MORTGAGE 9 Waiver of time period 10 Charges that do not trigger time period CALCULATION OF REFUNDS 11 Formula for refund calculation 12 Refund when optional service cancelled DISCLOSURE IN ADVERTISING (FIXED CREDIT) 13 Disclosure of cost of credit not required CREDIT CARDS 14 Card holder liability 15 Confidentiality compromised LEASES 16 APR and leases 17 Lease advertising: motor vehicles 18 Initial disclosure statement: additional information for motor vehicle leases 19 Maximum residual obligation FORM FOR PART II OF THE ACT 20 Price for resale of collateral DIRECT SELLERS 21 Application of Part VII of the Act 21.1 Written statement of cancellation rights not required LICENSING 22 Application of Part X of the Act 23 Application forms 24 Fee for vendor licence 25 Review of forms and letters 26 Penal bond for vendor licence 27 Bond for collection agent licence 28 Maximum amount that may be collected from debtor 29 Director may request record check ADMINISTRATIVE PENALTIES 30 Provisions for which an administrative penalty notice may be issued 31 Administrative penalty amounts 32 Form for the notice of administrative penalty NEGATIVE OPTION MARKETING 32.1 Application of Part XXI of the Act GENERAL 33 Repeal 34 Coming into force Schedule A Forms B Provisions for which an administrative penalty notice may be issued DEFINITIONS Definitions 1 The following definitions apply in this regulation. "Act" means The Consumer Protection Act . ( « Loi » ) "child abuse registry check" means a record about a person from a child abuse registry obtained under The Child and Family Services Act . (« vérification du registre concernant les mauvais traitements infligés aux enfants ») "criminal record check" means a record obtained from a law enforcement agency about a person stating whether or not the person has any conviction or has any outstanding charge awaiting court disposition under any federal, provincial or territorial enactment. (« vérification du casier judiciaire ») Definitions for purposes of the Act 2(1) For the purposes of the Act, "representative transaction" means, in relation to an advertisement, an example of a transaction that fairly depicts the transactions to which the advertisement applies, and is identified as a representative of those transactions. Index rate 2(2) For the purpose of the definition " index rate " in the Act, the rate must be an interest rate, or a variable base rate for an interest rate, that is (a) published weekly in a newspaper or magazine of general circulation in areas where borrowers whose credit agreements are governed by that interest rate reside; or (b) made accessible on the Internet. Meaning of "price" 2(3) For the purpose of section 36 of the Act, "price" in clause (a) of the definition "cash value" means an amount that fairly represents the price. M.R. 49/2007 APPLICATION Application of the Act 3 The Act does not apply to (a) an agreement made by a credit grantor under the authority of any statute of Canada or Manitoba whereby the Government of Canada or the Government of Manitoba provides any guarantee to the credit grantor; (b) a sale of services by a public utility company other than services supplied in connection with a sale of goods; or (c) a sale of goods or services, or both, made to the federal, a provincial or municipal government or any agency thereof. Application of Part II of the Act 4 The Canada Mortgage and Housing Corporation is a prescribed Crown corporation for the purpose of clause 4(3)⁠(a) of the Act. COST OF CREDIT No deduction from cash price of goods and services 4.1 For greater certainty, in determining the cost of credit under a credit agreement, no portion of the cash price of the goods or services purchased by the borrower from the credit grantor that is paid before credit is extended under the agreement may be deducted from the cash price if that portion is considered to be value given by the borrower pursuant to subclause 6(3)⁠(a)⁠(i) of the Act. M.R. 49/2007 Value received 4.2 For the purpose of clause 6(1)⁠(g) of the Act, the following constitute value received or to be received by the borrower: (a) a fee paid to a third party to register information or obtain information from a public registry; (b) in the case of a lease, the cash value of leased goods under a lease. M.R. 49/2007 CREDIT AGREEMENTS APR for certain credit agreements including typical mortgage loans 5 Where the stated interest rate for a credit agreement is calculated yearly or half-yearly, not in advance, the APR is the discount rate, calculated yearly or half-yearly, not in advance, expressed as an annual percentage, such that the sum of the present values of all anticipated advances equals the sum of the present values of all anticipated payments. APR as annual interest rate 6 Where (a) a credit agreement does not provide for interest to be calculated more frequently than the frequency with which scheduled payments under the agreement are to be made by the borrower; (b) there is no cost of credit, other than interest, in connection with the credit agreement; and (c) the same interest rate (i) will apply for the whole term, or (ii) would apply for the whole term using the assumption set out in clause 7(3)⁠(c); the APR is the annual interest rate set out in the credit agreement. APR for other credit agreements 7(1) Where section 5 or 6 does not apply to a credit agreement, the APR for that credit agreement is to be calculated in accordance with the following formula: APR = [C ÷ (T × A)] × 100 In this formula, APR is the annual percentage rate; C is the total cost of credit determined in accordance with section 6 of the Act; T is the length of the term of the credit agreement, in years; A is the average of the principal balances outstanding at the end of each interest calculation period during the term of the credit agreement before applying any payment due by the borrower. Calculation rules for "A" 7(2) In calculating "A" in subsection (1), the following rules apply: (a) the principal outstanding at the beginning of the term of the credit agreement is the result obtained by subtracting the total of all payments made by the borrower at or before the beginning of the term from the total of all advances received by the borrower at or before the beginning of the term; (b) the principal does not include any portion of the cost of credit, and no portion of the accumulated cost of credit is included in the principal balance outstanding at any time; (c) each payment by the borrower in connection with the credit agreement is considered to be applied first against the accumulated cost of credit and then, to the extent that the payment exceeds the accumulated cost of credit, against the principal balance outstanding; (d) applying the following formula in respect of each interest calculation period must yield a result that is equal to the cost of credit for that period: C = (APR ÷ 100) × L × P In this formula, C is an amount equal to the cost of credit for each interest calculation period, APR is the annual percentage rate, L is the length of the interest calculation period as a fraction of a year, P is the principal balance outstanding at the end of the interest calculation period before applying any payment due by the borrower. Assumptions and tolerances 7(3) The following assumptions and tolerances apply: (a) in calculating the APR, a year is considered to have 365 days; (b) if a credit agreement provides for payments to be made at intervals measured by reference to weeks or months, the APR may be calculated on the assumption that each week is 1/52 of a year long and each month is 1/12 of a year long; (c) if the APR is required to be calculated when the interest rate for any period during the term of the credit agreement is unknown, the APR must be calculated as if the interest rate for that period was to be determined on the basis of the circumstances existing at the time of the calculation; (d) if a credit agreement for fixed credit does not provide for scheduled payments by the borrower, the APR must be calculated on the assumption that the outstanding balance will be repaid in full in a single payment at the end of the term; (e) the APR for a renewed credit agreement must be calculated on the assumption that the borrower receives, on the renewal date, an advance equal to the outstanding balance at the end of the term of the agreement being renewed; (f) a disclosure of an APR for a credit agreement is considered to be accurate if it is within 1/8 of 1% of the APR calculated in accordance with this section. Rebates 8 Where a borrower must decline a rebate or a portion of a rebate in order to enter into a credit agreement at a particular interest rate, the APR and the cost of credit are calculated on the assumption that the value received by the borrower is the cash price of the product, as determined without regard to the rebate, less the amount of the declined rebate. INITIAL DISCLOSURE STATEMENT FOR MORTGAGE Waiver of time period 9 For the purpose of subsection 12(3) of the Act, a person entitled to disclosure may waive the two-day period in writing. Charges that do not trigger time period 10 For the purpose of clause 12(4)⁠(e) of the Act, the following charges do not trigger the time period under subsection 12(1) of the Act: (a) a premium for title insurance that indemnifies against damage or loss arising from a defect in title to real property; (b) a fee paid to a public registry to record or register a document or information in a public registry of interests in real or personal property, or to obtain a document or information from such a registry. CALCULATION OF REFUNDS Formula for refund calculation 11(1) For the purpose of subsection 18(3) (refund of non-interest finance charge: fixed credit) of the Act, the portion of each non-interest finance charge to be refunded or credited to the borrower is the amount determined in accordance with the following formula: P= C × [(N − M) ÷ N] In this formula, P is the portion of the charge to be refunded or credited to the borrower; C is the amount of the charge; N is the length of the period between the time the charge was imposed and the scheduled end of the term of the credit agreement; M is the length of the period between the time the charge was imposed and the time of the repayment. Deemed obligation of credit grantor 11(2) For greater clarity, if a broker assisted the borrower in obtaining credit and the credit grantor is not in the business of extending credit, the obligation under subsection 18(3) of the Act is deemed to be an obligation of the credit grantor and not the broker. Refund when optional service cancelled 12(1) For the purpose of section 24 of the Act, if a borrower cancels an optional service in accordance with section 23 of the Act, the person providing the service must immediately upon receiving notice refund an amount determined in accordance with subsection (2). Formula for refund 12(2) The amount to be refunded to the borrower of each optional service charged to the borrower or added to the balance of the loan but unused at the time of cancellation is to be determined in accordance with the following formula: R = C × [(N − M)÷ N] In this formula, R is the amount to be refunded or credited; C is the amount of the charges; N is the period between the imposition of the charge and the time when the services were, before the cancellation, scheduled to end; M is the period between the imposition of the charge and the cancellation. DISCLOSURE IN ADVERTISING (FIXED CREDIT) Disclosure of cost of credit not required 13 For the purpose of subsection 34.2(3) of the Act, an advertisement on radio, television or a billboard or other media with similar time and space limitations is not required to disclose the cost of credit. CREDIT CARDS Card holder liability 14(1) For the purpose of subsection 35.8(2) of the Act, the card holder is liable for any debt incurred when the lost or stolen credit card is used together with a confidential personal identification number, password or other access code voluntarily disclosed by the card holder. Liability limited 14(2) Despite subsection (1), the card holder is not liable (a) for any portion of the debt (i) from a single transaction that exceeds the maximum transaction withdrawal limit, (ii) from one or more transactions in a day that exceeds the maximum daily withdrawal limit, or (iii) from one or more transactions that exceeds the maximum liability under the credit agreement; (b) for any debt incurred through the use of the card after the card issuer is notified of the loss or theft; and (c) for any debt incurred through the use of the card if the confidential personal identification number is obtained through coercion, trickery, force or intimidation. Confidentiality compromised 15 The card holder is not liable for any debt incurred through the unauthorized use of the credit card after the card issuer is notified that the confidential personal identification number may be known to someone other than the card holder. LEASES APR and leases 16(1) The APR, in relation to a lease, is determined in accordance with the following formula: APR = M × I × 100 In this formula, APR is the annual percentage rate; M is the number of payment periods in a year under the lease; I is the periodic interest rate, as determined under subsection (2). Calculation of periodic interest rate 16(2) "Periodic interest rate" means the value of "I" in the following formula: In this formula, PMT is the amount of each periodic payment under the lease; A is the number of periodic payments to be made under the lease at the beginning of the lease term; PV is the capitalized amount; FV is the amount of the assumed residual payment paid at the end of N payment periods; I is the periodic interest rate; N is the number of payment periods under the lease. Calculation of periodic interest rate where lease allows payment holiday 16(3) If the lease allows for a payment holiday, "periodic interest rate" means the value of "I" in the following formula: In this formula, PMT is the amount of each periodic payment under the lease; H is the number of initial payment periods that do not require a payment to occur at the end of the period; PV is the capitalized amount; FV is the amount of the assumed residual payment paid at the end of N payment periods; I is the periodic interest rate; N is the number of payment periods under the lease. Taxes payable by lessee 16(4) For the purposes of calculating the APR and implicit finance charge for a lease, an amount payable by the lessee in respect of a tax is regarded as a payment only if an amount in respect of the tax was treated as an advance in calculating the capitalized amount. Charge payable by lessee 16(5) For the purposes of calculating the APR and implicit finance charge for a lease, a charge payable by the lessee is regarded as an advance if an equivalent charge would be payable by a cash customer. Leases: indefinite term or automatic renewal 16(6) For the purpose of calculating the APR and the implicit finance charge for a lease referred to in clause 37(b) or (c) of the Act, the term of the lease is assumed to be one year. Assumptions and tolerances 16(7) The following assumptions and tolerances apply: (a) in calculating the APR for a lease, a year is considered to have 365 days; (b) if a lease provides for payments to be made at intervals measured by reference to weeks or months, the APR for the lease may be calculated on the assumption that each week is 1/52 of a year long and each month is 1/12 of a year long; (c) if the APR for a lease is required to be calculated when the interest rate for any period during the term of the lease is unknown, the APR for the lease must be calculated as if the interest rate for that period was to be determined on the basis of the circumstances existing at the time of the calculation; (d) a disclosure of an APR for a lease is considered to be accurate if it is within 1/8 of 1% of the APR calculated in accordance with this section. M.R. 49/2007 Lease advertising: motor vehicles 17 For the purpose of clause 38(1)⁠(g) of the Act, an advertisement for a motor vehicle lease must disclose (a) the kilometre allowance; and (b) the amount the lessee would be charged for exceeding the allowance. Initial disclosure statement: additional information for motor vehicle leases 18 When the lease is for a motor vehicle, the initial disclosure statement must disclose (a) the kilometre allowance; and (b) the amount the lessee would be charged for exceeding the allowance. Maximum residual obligation 19(1) The lessee's maximum liability at the end of a term of a residual obligation lease after returning the leased goods to the lessor is to be calculated in accordance with the following formula: M = P + (V − R) In this formula, M is the maximum liability; P is the estimated residual cash payment; V is the estimated residual value; R is the realizable value, as determined under subsections (2) and (3). Realizable value of leased goods 19(2) Subject to subsection (3), the realizable value of leased goods at the end of the leased term is the greater of (a) the net proceeds for which the lessor disposes of the goods; (b) 80% of the estimated residual value; and (c) the estimated residual value minus three times the average monthly payment. Reduction in realizable value 19(3) If the amount determined under clause (2)⁠(a) is less than the amount determined under clause (2)⁠(b) or (c), the realizable value is reduced to the extent that the difference in the amounts is attributable to unreasonable or excessive wear or use, or to damage to the goods for which the lessee is responsible under the lease. M.R. 49/2007 FORM FOR PART II OF THE ACT Price for resale of collateral 20 An accounting to be given under clause 51(2)⁠(b) of the Act must be in Form 1 of Schedule A. M.R. 4/2015 DIRECT SELLERS Application of Part VII of the Act 21(1) Part VII (Direct Sellers) of the Act does not apply to (a) a sale that is regulated under The Insurance Act ; (b) a sale that is regulated under The Securities Act ; (c) a sale of services as a real estate broker and salesman within the meaning of The Real Estate Brokers Act ; (d) a sale of services as a mortgage broker, dealer and salesperson within the meaning of The Mortgage Dealers Act ; (e) a sale of services as a commodity broker of a person who is a member of the Winnipeg Commodity Exchange and is recognized by the Exchange as a futures commission merchant; (f) a sale of tickets on a lottery scheme that is permitted under an Act of the Legislature or an Act of Parliament; (g) a sale of advertising time for broadcast by radio or television, or advertising space in a regular periodic publication, provided that, in respect of such a publication, the director is satisfied that each issue of the publication is or will be published and circulated on regular dates or at regular intervals; (h) a sale of goods or services by a vendor, or anyone acting on behalf of that vendor, where the vendor (i) applies in writing to the director for an exemption from Part VII of the Act, (ii) substantiates, in a manner acceptable to the director, that (A) not more than 20% of all the goods or services sold by the vendor in Manitoba are sold in a manner to which section 59 of the Act applies, and (B) all other sales are made from a retail store in Manitoba, and (iii) receives notification in writing of the exemption from the director; (i) a sale at a price of less than $50 where the sale is concluded at an agricultural fair, trade fair, artistic or similar type of exhibition; (j) a sale at a price of $50 or less made in or from a shopping mall or the premises of another retail establishment, and any sale at a price exceeding $50 made in or from a long-term or permanent location in a shopping mall or the premises of another retail establishment. Exception for personally handcrafted goods 21(2) Despite subsection (1), Part VII of the Act does not apply where the goods sold are personally handcrafted anywhere in Canada by the vendor or the vendor's direct sellers. Definition of "retail store" 21(3) For the purposes of clause (1)⁠(h), "retail store" does not include a dwelling, mail order office, display room, office, repair or service shop, warehouse, studio, or any other place of like nature, even though the vendor is or may be assessed by the municipality for business tax purposes in respect of that place. Written statement of cancellation rights not required 21.1(1) Any requirement pursuant to section 61 of the Act to provide a written statement of cancellation rights does not apply in respect of a direct sale made from a call centre on behalf of a vendor. Definitions 21.1(2) The following definitions apply in this section and clause 22(h). "call centre" means a business operating at a physical location from which the business uses telephone communications, which may include computer technology, to facilitate communication between a provider of goods or services and a former, current or potential consumer of the goods or services, but does not include a business selling its own goods or services to consumers. (« centre d'appel ») "direct sale" means a retail sale or retail hire-purchase of goods or services or both entered into by a buyer elsewhere than at the vendor's usual place of business and that results from an offer, solicitation, proposal or approach made by or on behalf of the vendor (a) without any prior request by the buyer; or (b) in response to a request made by the buyer if the request was itself solicited by or on behalf of the vendor. (« démarchage ») M.R. 159/2007 LICENSING Application of Part X of the Act 22 Part X (Licensing) of the Act does not apply to (a) a person who for a nominal fee accepts payment of an account on behalf of a credit grantor but who does not otherwise negotiate with a debtor in respect of the amount owing; (b) a bank; (c) a trustee licensed under the Bankruptcy and Insolvency Act (Canada); (d) a person who only sells under the sponsorship or on behalf of an organized society or association of religious believers or worshippers; (e) a direct seller engaged occasionally in making retail sales where the proceeds are for athletic, sporting or civic purposes and the direct seller making the retail sale does not obtain any material or monetary gain of any consequence; (f) a person licensed for the sale of goods or services within the meaning of Part III of The Cemeteries Act or The Prearranged Funeral Services Act ; (g) the sale of a course designated as a "vocation" within the meaning of The Private Vocational Institutions Act ; or (h) an employee of a call centre. M.R. 159/2007 Application forms 23 An application (a) for a collection agent licence or a renewal must be in Form 2 of Schedule A; (b) for a vendor licence or a renewal must be in Form 3 of Schedule A; (c) for a direct seller licence or for renewal of a direct seller licence must be in Form 4 of Schedule A; and (d) for a collector to be registered under clause 105(d) of the Act must be in Form 5 of Schedule A. M.R. 4/2015 Fee for vendor licence 24(1) The fee payable for a vendor licence or for renewal of a vendor licence, for one year or a part of a year, is (a) $175, if no direct sellers are to be appointed; (b) $385, if no more than five direct sellers are to be appointed; or (c) $770, if more than five direct sellers are to be appointed. Fee for direct seller licence 24(2) The fee payable for a direct seller licence or for renewal of a direct seller licence, for one year or a part of a year, is $55. Fee for collection agent licence 24(3) The fee payable for a collection agent licence or for renewal of a collection agent licence, for one year or a part of a year, is $550. Fee for registration as a collector 24(4) The fee payable for registration as a collector or for renewal of registration as a collector, for one year or a part of a year, is $75. Fee for amendment or replacement 24(5) The fee payable for the replacement or amendment of a licence or registration is $40. Review of forms and letters 25 For the purpose of administering the Act, the director or any person acting under the authority of the director may, at the request of a collection agent, vendor, direct seller or collector, review a form or letter to ensure its compliance with the Act and may charge a fee of $70 for each such review. Penal bond for vendor licence 26(1) Every application for a vendor licence must be accompanied by a penal bond, issued by an assurance or bonding company authorized to carry on business in Manitoba, which must be in Form 6 of Schedule A. Acceptance of penal bond in Form 7 or 8 26(2) Where the applicant satisfies the director that the applicant is unable to provide a penal bond in Form 6 of Schedule A, the director may accept a bond in Form 7 or 8 of Schedule A, as the case may be. M.R. 4/2015 Bond for collection agent licence 27(1) Every application for a collection agent licence must be accompanied by a bond, issued by an assurance or bonding company authorized to carry on business in Manitoba, which must be in Form 9 of Schedule A. Acceptance of bond in Form 7 or 8 27(2) Where the applicant satisfies the director that the applicant is unable to provide a bond in Form 9 of Schedule A, the director may accept a bond in Form 7 or 8 of Schedule A, as the case may be. M.R. 4/2015 Maximum amount that may be collected from debtor 28(1) For the purpose of clause 98(o) of the Act, the amount that may be collected from a debtor must not exceed (a) in the case of a debt repayment agreement that includes a schedule of payments, the greater of (i) 15% of the money actually collected from the debtor for distribution to his or her creditors, and (ii) $20; or (b) in the case of a one-time payment to a credit grantor or grantors, or an agreement to make arrangements or negotiate on the debtor's behalf with the credit grantor or grantors identified in the debt repayment agreement, 10% of the debt owing. 28(2) A fee under clause (1)⁠(b) may be charged to the debtor by the person only after a settlement acceptable to the debtor has been successfully arranged or negotiated with the credit grantor or grantors. M.R. 6/2012 Director may request record check 29 At the director's request, an applicant must submit a completed criminal record check or child abuse registry check. ADMINISTRATIVE PENALTIES Provisions for which an administrative penalty notice may be issued 30 A notice of administrative penalty may be issued under subsection 136(1) of the Act in respect of one or more provisions of the Act or a regulation under the Act that are set out in Schedule B. M.R. 4/2015 Administrative penalty amounts 31(1) The amount of an administrative penalty to be imposed on an individual is as follows: (a) first contravention 31(2) The amount of an administrative penalty to be imposed on a corporation is as follows: (a) first contravention Form for the notice of administrative penalty 32 A notice of administrative penalty must be in Form 10 of Schedule A. M.R. 4/2015 NEGATIVE OPTION MARKETING Application of Part XXI of the Act 32.1 In Part XXI of the Act (Negative Option Marketing), (a) "goods" and "services" do not include insurance to which The Insurance Act applies; and (b) "supplier" does not include an insurer, a reciprocal insurance exchange or insurance agent licensed under The Insurance Act . M.R. 66/2013 GENERAL Repeal 33 The Consumer Protection Regulation , Manitoba Regulation 384/87 R, is repealed. Coming into force 34 This regulation comes into force on the same day that section 6 of The Consumer Protection Amendment Act (Cost of Credit Disclosure and Miscellaneous Amendments) , S.M. 2005, c. 16, comes into force. SCHEDULE A FORMS Form 1 Accounting of Sale of Repossessed Goods or Collateral Form 2 Application for Licence as a Collection Agent Form 3 Application for Licence as a Vendor Form 4 Application for Licence or Renewal of Licence as a Direct Seller Form 5 Application to Register as a Collector Form 6 Penal Bond Form 7 Collateral Security Bond (Currency) Form 8 Collateral Security Bond (Negotiable Securities) Form 9 Surety Bond for Collection Agents Form 10 Notice of Administrative Penalty SCHEDULE B (Section 30) The Consumer Protection Act subsection 13(2) (prominence of APR disclosure) subsection 13(3) (APR for representative transaction) subsection 14(1) (advertising interest-free periods) subsection 14(2) (grace period conditions) subsection 20.1(1) (no advance payment to brokers) subsection 20.2(1) (disclosure by broker) subsection 20.2(2) (disclosure of brokerage fee) subsection 20.2(4) (refund of brokerage fee) subsection 21(2) disclosure of borrower's right to choose insurer) section 32 (assignment of promissory note) section 34.1 (credit sales must have scheduled payments) subsection 34.2(1) (disclosure of term and APR) subsection 34.2(2) (disclosure of cash price) subsection 34.2(3) (disclosure of cost of credit) subsection 34.2(4) (disclosure for representative transaction) section 34.3 (initial disclosure statement) subsection 34.4(1) (periodic disclosure: floating interest rate) subsection 34.5(1) (additional disclosure: amendments) section 34.6 (notice that payments will not cover interest) subsection 34.7(2) (renewing a credit agreement) subsection 34.8(1) (notice of mortgage renewal) subsection 34.8(2) (disclosure on mortgage renewal) subsection 34.8(6) (charges related to renewal to be refunded) section 35.1 (disclosure: advertisement for open credit) section 35.2 (contents of initial disclosure statement) subsection 35.3(1) (frequency of statements of account) subsection 35.3(2) (disclosure in statement of account) subsection 35.4(1) (no issuance of unsolicited credit cards) subsection 35.5(1) (rates and fees to be disclosed in solicitation) subsection 35.5(2) (application for credit card) subsection 35.7(1) (prior notice of change in information) subsection 35.7(2) (other notice of changes) subsection 35.9(1) (surrender of credit card) subsection 38(1) (lease advertising) subsection 38(2) (representative transaction) subsection 38(3) (advertising in prescribed medium) subsection 38(4) (records to be kept for three months) subsection 38(5) (director entitled to copy of record) subsection 39(1) (initial disclosure statement) subsection 39(2) (additional disclosure: amendments) section 40 (maximum residual obligation determined by regulation) subsection 45(1) (notice of seizure) subsection 45(2) (notice of sale) subsection 45(3) (combined notice) subsection 45(4) (notice to persons other than the borrower) section 46 (demand payments prohibited) subsection 47(1) (credit grantor may sue or seize) clause 51(2)⁠(b) (price for resale of collateral) section 53 (refund of payments) subsection 60(2) (certain selling practices prohibited) subsection 75(1) (licensing of vendors) subsection 75(2) (licensing of direct sellers) subsection 75(3) (use of unlicensed direct seller) subsection 76(1) (licensing of collection agencies) section 82 (licence required) section 96.1 (requesting or requiring consumers to waive or limit rights) clause 98(a), (b), (c), (e), (g), (m) or (o) (prohibitions) subsection 102(1) (restriction on use of name) subsection 102(3) (use of collection agent by another collection agent) section 106 (registration of certain persons with the office) section 106.1 (restriction on use of name by collector) subsection 108(1) (trust account) subsection 108(2) (withdrawals from trust account) subsection 109(2) (submission of audited statements) subsection 110(1) (accounting to client for collections) subsection 110(2) (accounting for seized goods or chattels) subsection 110(4) (disclosure of actions) subsection 110(5) (surrender of documents) subsection 123(1) (written contract) subsection 123(3) (statement required in contract) clause 123(4)⁠(b) (effect of cancellation) subsection 123(8) (refund) subsection 125(1) (maximum term) subsection 125(2) (fee payable by instalments) subsection 125(3) (refund) clause 133(1)⁠(b) (effect of cancellation) section 175 (negative option marketing prohibited) subsection 177(2) (supplier must refund) Direct Sellers Regulation , M.R. 197/97 section 2 (content of retail sale or retail hire-purchase agreement) subsection 3(1) (statement of cancellation rights) subsection 3(2) (where statement not on face of agreement) subsection 3(3) (where statement in a separate document) Internet Agreements Regulation , M.R. 176/2000 subsection 3(1) (information to be provided to the seller) M.R. 4/2015