SNL2009 CHAPTER C-31.1 - CONSUMER PROTECTION ANDBUSINESS PRACTICES ACT

SNL2009 CHAPTER C-31.1 CONSUMER PROTECTION AND BUSINESS PRACTICES ACT Amended: 2010 c11; 2010 c26; 2010 c31 s5; 2010 c33; 2012 c7; 2012 c23; 2013 c16 s25; 2016 c46; 2022 c28 CHAPTER C-31.1 AN ACT RESPECTING CONSUMER PROTECTION AND BUSINESS PRACTICES (Assented to May 28, 2009 ) Analysis 1. Short title PART I DEFINITIONS AND APPLICATION 2. Definitions 3. Waiver PART II ADMINISTRATION 4. Director and assistant director 5. Powers and duties of director 6. Fees and forms PART III UNFAIR PRACTICES Division 1 Consumer Practices 7. Unfair consumer practices 8. Unconscionable acts 9. Prohibition 10. Remedies of consumers Division 2 Relief from Unconscionable Transactions 11. Definitions 12. Court may reopen transaction 13. Exercise of powers of court 14. Burden of proof 15. Factors to be considered by court 16. Relief in Trial Division 17. Saving genuine holder for value and existing jurisdiction PART IV UNSOLICITED GOODS AND SERVICES AND CREDIT CARDS 18. Definitions 19. Unsolicited goods or services 20. Material change considered unsolicited 21. Consumer's remedy 22. Credit arrangements PART V CONSUMER CONTRACTS Division 1 Direct Sales Contracts 23. Definition 24. Content of contract 25. Cancellation rights 26. Cancellation of contract 27. Restriction on enforcement of contract Division 2 Distance Sales Contracts 28. Definition 29. Disclosure of information 30. Distance sales contract in electronic form 31. Copy of distance sales contract 32. Cancellation of distance sales contract 33. Refunds by supplier on cancellation 34. Return of goods by consumer on cancellation 35. Consumer's recourse regarding credit card charges Division 3 Distance Service Contracts Rep. by 2022 c28 s12 35.1 Rep. by 2022 c28 s12 35.2 Rep. by 2022 c28 s12 35.3 Rep. by 2022 c28 s12 35.4 Rep. by 2022 c28 s12 35.5 Rep. by 2022 c28 s12 35.6 Rep. by 2022 c28 s12 35.7 Rep. by 2022 c28 s12 35.8 Rep. by 2022 c28 s12 35.9 Rep. by 2022 c28 s12 35.10 Rep. by 2022 c28 s12 35.11 Rep. by 2022 c28 s12 35.12 Rep. by 2022 c28 s12 35.13 Rep. by 2022 c28 s12 35.14 Rep. by 2022 c28 s12 35.15 Rep. by 2022 c28 s12 35.16 Rep. by 2022 c28 s12 PART VI CREDIT REPORTS 36. Definitions 37. Application of Part 38. Disclosure of consumer report 39. Contents of consumer report 40. Credit report 41. Personal information 42. Disclosure of file to consumer 43. Alteration of consumer information 44. Sale of files PART VII COST OF CONSUMER CREDIT DISCLOSURE 45. Interpretation Division 1 Application 46. Application 47. Delivery of disclosure statements 48. Disclosure 49. Delivery Division 2 Rights and Obligations 50. Insurer 51. Cancellation of optional services 52. Prepayment of credit 53. Default charges 54. Invitation to defer payment and acceleration clause 55. Non-business credit grantors 56. Business credit grantors Division 3 Fixed Credit 57. Application 58. Advertising 59. Advertising interest-free periods 60. Disclosure statements 61. Interest change disclosure 62. Increases in outstanding principal 63. Amendments 64. Mortgage renewal disclosure Division 4 Open Credit 65. Application 66. Advertising 67. Interest free periods 68. Open credit disclosure 69. Statements of account 70. Transaction description 71. Credit card by application 72. Application for credit card 73. Additional credit card disclosure 74. Limitation of liability Division 5 Leases of Goods 75. Application 76. Advertising requirements 77. Disclosure 78. Maximum liability for residual obligation lease Division 6 Compliance 79. Interpretation 80. Recovery of overpayments and compensation 81. Remedies 82. Assignee Division 7 Regulations 83. Regulations PART VII.1 PAYDAY LOANS 83.1 Definitions 83.2 Application 83.3 Limits on total cost of borrowing 83.4 Prohibited practices 83.5 Cooling off period 83.6 Agreement and advance 83.7 Receipt for payment 83.8 Payout of balance on cash card 83.9 Prepayment 83.10 Consequence of failure to comply 83.11 Regulations PART VII.2 HIGH-COST CREDIT PRODUCTS 83.12 Definitions 83.13 Application 83.14 Limits on total cost of borrowing 83.15 Prohibited practices 83.16 Cancellation rights 83.17 Required terms of agreement 83.18 Receipt for payment 83.19 Payout of balance on cash card 83.20 Prepayment 83.21 Signs and advertisements 83.22 Consequences of failure to comply 83.23 Regulations PART VIII LICENCES 84. Definitions 85. Licence required 86. Denial of licence 87. Terms and conditions of a licence 88. Suspension and cancellation of a licence 89. Production of licence 90. Certificate of registrar 91. Address for service 92. Notice of change 93. Annual return 94. Registration continues 95. Exception to licensing requirement 96. Bonds PART IX INVESTIGATION AND ENFORCEMENT 97. Investigations 98. Proof of documents 99. Freezing orders 100. Receiving order 101. Compliance 102. Compliance orders 103. Director's actions 104. Actions on behalf of consumer 105. Interim injunction PART X REGULATIONS 106. Regulations PART XI APPEALS 107. Appeals 108. Evidence PART XII OFFENCE 109. Offences PART XIII CONSEQUENTIAL AMENDMENTS, REPEAL AND COMMENCEMENT 110. Transitional 111. RSNL1990 cM-18 and CNLR 1006/96 Amdt. 112. Acts Repealed 113. Commencement Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows: Short title 1. This Act may be cited as the Consumer Protection and Business Practices Act. 2009 cC-31.1 s1 PART I DEFINITIONS AND APPLICATION Back to Top Definitions 2. In this Act (a) "consumer" means a natural person acting for personal, family or household purposes but does not include a person who is acting for business purposes; (b) "consumer transaction" means an act or instance of conducting business or other dealings with a consumer including an agreement between a supplier and a consumer in which the supplier agrees to supply goods and services for payment; (c) "credit" means the advancing of money, goods or services to or on behalf of another for repayment at a later time, whether or not there is a cost of borrowing, and includes variable credit; (d) "director" means the Director of Consumer Protection and Business Practices appointed under section 4 ; (e) "goods" means personal property or a right or interest in personal property that is used or ordinarily used primarily for personal, family or household purposes including personal property that becomes fixtures subsequent to a consumer transaction but does not include securities as defined in the Securities Act ; (f) "judge" means a judge of the Supreme Court; (g) "licence" means a licence issued or renewed under this Act; (h) "minister" means the minister appointed under the Executive Council Act to administer this Act; (h.1) "payday loan" has the meaning given to it in section 83.1; ( i ) "services" means services provided to a consumer for primarily personal, family or household purposes including ( i ) for the maintenance or repair of goods or real property owned by a consumer, (ii) in conjunction with the use of social, recreational or physical fitness facilities, (iii) in conjunction with the use of cell phones, residential phones, internet, cable and satellite television and remote surveillance, (iv) in respect of the movement, transport or storing of goods, or (v) for educational purposes; and (j) "supplier" means a person who, as a principal or agent, in the course of the person’s business ( i ) offers or advertises the sale of goods or services to a consumer, (ii) engages in a consumer transaction with a consumer, or (iii) manufactures, imports, produces or assembles goods, and includes an assignee of the rights and obligations of a supplier. 2009 cC-31.1 s2 ; 2010 c26 s1 ; 2012 c7 s1 ; 2016 c46 s1 ; 2022 c28 s1 Back to Top Waiver 3. (1) A waiver or release by a person of the person's rights, benefits or protection under this Act or regulations is void. (2) Subsection (1) does not apply to a release made by a person to settle a dispute. 2009 cC-31.1 s3 PART II ADMINISTRATION Back to Top Director and assistant director 4. (1) The minister shall appoint a Director of Consumer Protection and Business Practices. (2) The minister may appoint an Assistant Director of Consumer Protection and Business Practices who, in the absence or incapacity of the director, shall perform the functions and exercise the powers of the director. 2009 cC-31.1 s4 Back to Top Powers and duties of director 5. (1) The powers and duties of the director are (a) to exercise the powers and perform the duties conferred or imposed on the director under this Act; (b) to receive and act on complaints respecting consumer transactions; (c) to make inquiries, gather information and attempt to mediate or resolve complaints between a consumer and a supplier; (d) to publish reports respecting the enforcement and administration of this Act; and (e) to inform consumers and suppliers of this Act. (2) The director, in the performance of the director’s duties and responsibilities under this Act has the powers of a commissioner under the Public Inquiries Act, 2006 . 2009 cC-31.1 s5 ; 2022 c28 s2 Back to Top Fees and forms 6. The minister may approve forms and set fees for the purpose of this Act. 2009 cC-31.1 s6 PART III UNFAIR PRACTICES Division 1 Consumer Practices Back to Top Unfair consumer practices 7. (1) In this Part, an unfair business practice is a representation, conduct or failure to disclose material facts that has the effect, or might reasonably have the effect, of deceiving or misleading a consumer, and includes (a) a representation that the goods or services have sponsorship, approval, performance characteristics, accessories, ingredients, quantities, components, uses or benefits that they do not have; (b) a representation that the supplier has sponsorship, approval, status, affiliation or connection that the supplier does not have; (c) a representation that the goods or services are of a particular standard, quality or grade where they are not; (d) a representation that the goods are of a particular style, model or origin where they are not; (e) a representation that the goods have been used to an extent that is different from their actual use; (f) a representation that the goods are new or unused where they are not or where they are reconditioned, reclaimed, altered or deteriorated; (g) a representation that the goods have a particular prior history or use where they have not; (h) a representation that the goods or services have been made available in accordance with a previous representation where they have not; (i) a representation that the goods or services are available, or are available at a reduced price, for a reason that is different from the fact; (j) a representation that the goods or services have been supplied in accordance with a previous representation, where they have not; (k) a representation that the goods or services are available when the supplier knows or ought to know that they are not or has no intention of supplying them; (l) a representation that a specific price advantage exists where it does not; (m) a representation that a part, replacement, repair or adjustment is needed where it is not; (n) a representation that repairs have been made or parts installed where that is not the case; (o) a representation that the supplier is soliciting or communicating with consumers with a certain interest or purpose where the supplier is not; (p) a representation that a consumer transaction involves or does not involve rights, remedies or obligations where that representation is deceptive or misleading; (q) a representation such that a consumer might reasonably conclude that the goods are available in greater quantities than are in fact available from the supplier; (r) a representation as to the authority of a salesperson, representative, employee or agent to negotiate the final terms of a consumer transaction where the representation is not accurate; (s) the giving of an estimate or evaluation of the price of goods or services that is materially less than the price subsequently determined or demanded, where the supplier has proceeded with the performance of the consumer transaction without the express prior consent of the consumer; (t) the giving of less prominence in an advertisement or display to the total price of goods or services than to the price of a part of the goods or services; (u) the giving of less prominence in a representation, advertisement or display to the amount of an instalment to be paid for goods or services than to the total price of the goods or services; (v) a representation that goods or services are free when that is not the case; and (w) a representation using exaggeration, innuendo or ambiguity as to a material fact. (2) An unfair business practice may occur before, during or after a consumer transaction notwithstanding that the consumer transaction is not completed or a consumer has not suffered loss or damage. (3) With the exception of paragraphs (1)(t) and (u), subsection (1) does not apply to a supplier who, on behalf of another supplier, broadcasts by radio or television, or prints, publishes or distributes an advertisement that the supplier has accepted in good faith. 2009 cC-31.1 s7 ; 2022 c28 s3 Back to Top Unconscionable acts 8. (1) In determining whether an act or practice is unconscionable the court shall consider the circumstances that the supplier knew or ought to have known, including (a) that at the time the consumer transaction was entered into there was no reasonable probability of full payment of the purchase price by the consumer; (b) that the consumer was unable to receive a substantial benefit from the consumer transaction; (c) that at the time the consumer transaction was entered into the price grossly exceeded the price at which similar goods or services were available to similar consumers; (d) that the terms and conditions of the consumer transaction were so one-sided, harsh or adverse to the consumer as to be inequitable; (e) that the supplier used trickery or undue pressure in order to induce the consumer to enter into the consumer transaction; or (f) that the supplier took advantage of the extreme necessity or helplessness of the consumer or the inability of the consumer to protect the consumer's interests because of the consumer's physical or mental disability, ignorance, illiteracy, age or emotional state, or the inability to understand the character, nature or language of the consumer transaction. (2) An unconscionable act or practice may occur before, during or after a consumer transaction. 2009 cC-31.1 s8 ; 2022 c28 s4 Back to Top Prohibition 9. (1) A person shall not engage in an unfair business practice or unconscionable act or practice. (2) Where it is alleged that a supplier is engaging in or has engaged in an unfair business practice or an unconscionable act or practice, the burden of proof that the supplier is not engaging in or has not engaged in an unfair business practice or an unconscionable act or practice rests with the supplier. 2009 cC-31.1 s9 Back to Top Remedies of consumers 10. (1) Where a consumer has suffered damage as a result of an unfair business practice or unconscionable act or practice, the consumer may start an action against a supplier. (2) In an action started under this section, or in another action concerning a supplier where it appears to the court that an unfair business practice or unconscionable act or practice has occurred, the court may (a) make an order declaring the act or practice to be an unfair business practice or unconscionable act or practice; (b) award damages for a loss suffered including exemplary or punitive damages; (c) make an order rescinding the transaction; (d) grant an interim or permanent injunction restraining the supplier from continuing the unfair business practice or unconscionable act or practice; (e) reopen the transaction and repay the amount paid to the supplier by the consumer or relieve the consumer from the payment of an amount in excess of the amount judged by the court to be a fair price for the transaction; and (f) make other directions and grant other relief that the court considers appropriate. (3) Where a consumer begins an action under this section, the consumer shall serve the director with a copy of the statement of claim and upon the request of the director to the court the director shall be added as a party to the action. (4) Nothing in this section limits a remedy a consumer may have with respect to a transaction under the common law or another Part. 2009 cC-31.1 s10 ; 2010 c26 s2 ; 2022 c28 s5 Division 2 Relief from Unconscionable Transactions Back to Top Definitions 11. In this Division (a) "cost of the loan" means the whole cost to the debtor of money lent and includes interest, discount, subscription, premium, dues, bonus, commission, brokerage fees and charges, but not actual lawful and necessary disbursements made to the Registrar of Deeds, the Supreme Court, the sheriff or a city or a town clerk of a municipality; (b) "creditor" includes the person advancing money lent and the assignee of a claim arising or security given in respect of money lent; (c) "debtor" means a person to whom or on whose behalf money lent is advanced, and includes a surety and endorser or other person liable for the repayment of money lent or upon an agreement or collateral or other security given in respect of it; and (d) "money lent" includes money advanced on behalf of a person in a transaction which, whatever its form may be, is substantially one of money-lending or securing the repayment of money so advanced and includes a mortgage. 2009 cC-31.1 s11 ; 2013 c16 s25 Back to Top Court may reopen transaction 12. Where, in respect of money lent, a judge finds that having regard to the risk and to the circumstances, the cost of the loan is excessive and that the transaction is harsh and unconscionable the judge may (a) reopen the transaction and take an account between the creditor and the debtor; (b) notwithstanding a statement or settlement of account or an agreement purporting to close previous dealings and create a new obligation, reopen an account already taken and relieve the debtor from payment of a sum in excess of the sum determined by the judge to be fairly due in respect of the principal and the cost of the loan; (c) order the creditor to repay the excess where it has been paid or allowed on account by the debtor; and (d) set aside either wholly or in part or revise or alter a security given or agreement made in respect of the money lent, and, where the creditor has parted with the security, order the creditor to indemnify the debtor. 2009 cC-31.1 s12 Back to Top Exercise of powers of court 13. The powers conferred by section 12 may be exercised in an action or proceeding (a) by a creditor for the recovery of money lent; (b) by the debtor notwithstanding a provision or agreement to the contrary and notwithstanding that the time for repayment of the loan or an instalment of it has not arrived; or (c) in which the amount due or to become due in respect of money lent is in question. 2009 cC-31.1 s13 Back to Top Burden of proof 14. In an action taken under this Division the burden of proof is on the creditor to establish that having regard to the risk and to the circumstances the cost of the loan is not excessive and is not harsh and unconscionable. 2009 cC-31.1 s14 Back to Top Factors to be considered by court 15. (1) In determining whether the cost of a loan is excessive a judge shall consider (a) the interest rates prevailing at the time the loan was entered into for loans of a similar nature, including the prime rate of interest charged by the chartered banks to their most credit-worthy customers; (b) the degree of risk assumed by the creditor; and (c) the cost of a similar loan to a debtor in similar circumstances. (2) In determining whether the transaction is harsh and unconscionable a judge shall consider (a) whether the debtor was unable to protect the debtor’s own interests because of physical or mental disability, age, illiteracy, ignorance or inability to understand the nature of the lending transaction; (b) whether the debtor was subject to undue pressure to enter into the lending transaction; or (c) whether, at the time the loan was entered into , there was no reasonable probability of full payment of the principal amount of the loan and the cost of the loan. 2009 cC-31.1 s15 ; 2022 c28 s6 Back to Top Relief in Supreme Court 16. In addition to a right that a debtor may have under this or another Division or otherwise in respect of money lent, the debtor may apply for relief under this Division to a judge and the judge on the application may exercise the powers of the court under section 12 . 2009 cC-31.1 s16 ; 2022 c28 s7 Back to Top Saving genuine holder for value and existing jurisdiction 17. Nothing in this Division affects the rights of a genuine assignee or holder for value without notice or derogates from the existing powers or jurisdiction of a judge. 2009 cC-31.1 s17 PART IV UNSOLICITED GOODS AND SERVICES AND CREDIT CARDS Back to Top Definitions 18. In this Part, "unsolicited goods" means personal property provided to a person who did not request it, but does not include (a) personal property that the recipient knows or ought to know is intended for another person, or (b) personal property supplied under a written contract to which the recipient is a party that provides for the periodic supply of personal property to the recipient without further solicitation, and a request for goods shall not be inferred from inaction or the passing of time alone. 2009 cC-31.1 s18 Back to Top Unsolicited goods or services 19. (1) A consumer does not have a legal obligation in respect of unsolicited goods or services unless and until the consumer expressly acknowledges to the supplier in writing the consumer’s intention to accept the goods or services. (2) Unless the consumer has given the acknowledgment referred to in subsection (1), the supplier does not have a cause of action for a loss, use, misuse, possession, damage or misappropriation in respect of the goods or services or the value obtained by the use of the goods or services. (3) Where it is alleged that the supplier supplied unsolicited goods or services, the burden of proof that the goods or services were not unsolicited is on the supplier. 2009 cC-31.1 s19 ; 2022 c28 s8 Back to Top Material change considered unsolicited 20. (1) Where a consumer is receiving goods or services on an ongoing or periodic basis and there is a material change in the goods or services, the goods or services shall be considered to be unsolicited from the time of the material change forward unless the supplier is able to establish that the consumer consented to the material change. (2) A supplier may rely on a consumer's consent to a material change that is made orally, in writing or by other affirmative action but the supplier shall bear the onus of proving the consumer's consent. 2009 cC-31.1 s20 Back to Top Consumer's remedy 21. (1) A consumer who pays for unsolicited goods or services may give to the supplier a demand, in writing, for a refund from the supplier within 60 days after the consumer first received the goods or services where the consumer did not expressly acknowledge to the supplier in writing the consumer’s intention to accept the goods or services. (2) A demand is sufficient if it indicates, in any way, the intention of the consumer to demand a refund of a payment made for unsolicited goods or services. (3) Where a supplier receives a demand for a refund, the supplier shall refund to the consumer, within 15 days after the supplier received the demand, all money received in respect of the unsolicited goods or services. 2009 cC-31.1 s21 ; 2022 c28 s9 Back to Top Credit arrangements 22. (1) An action shall not be brought against a person upon an arrangement for the extension of credit evidenced by a credit card unless the person to whom credit is extended requested or accepted the credit arrangement and card in writing. (2) The use of a credit card by a person whose name appears on the credit card shall be considered to constitute written acceptance by the person of the card and the terms of credit. 2009 cC-31.1 s22 PART V CONSUMER CONTRACTS Division 1 Direct Sales Contracts Back to Top Definition 23. In this Division, Division 3, Part VIII and Part X, "direct sales contract" means an agreement between a consumer and a supplier that is negotiated or concluded in person at a place other than (a) the supplier's place of business; or (b) a market place , an auction, trade fair, agricultural fair or exhibition. 2012 c7 s2 Back to Top Content of contract 24. (1) A written contract shall include (a) the consumer's name and address; (b) the supplier's name, business address, telephone number and, where applicable, fax number; (c) where applicable, the salesperson's name; (d) the date and place of the contract; (e) a description of the goods and services, sufficient to identify them; (f) a statement of cancellation rights that conforms with the requirements of the regulations; (g) itemized prices of the goods or services, or both; (h) the total amount of the contract; (i) the terms of payment; (j) in the case of a contract for the future delivery of goods, future provision of services or goods together with services, the delivery date for the goods or start date for the services or both; (k) in the case of a contract for the future provision of services or goods together with services, the completion date for supplying the services or the goods together with services; (l) subject to subsection (2), where credit is extended, (i) a statement of any security taken for payment, and (ii) the cost of credit in accordance with Part VII ; (m) where goods are taken in trade, a description of and the value of the trade-in; and (n) the signatures of both parties. (2) Where credit is extended or arranged by the supplier and the credit contract is separate from or attached to the direct sales contract, the credit contract is conditional on the direct sales contract and, where the direct sales contract is cancelled, that cancellation has the effect of cancelling the credit contract. (3) Upon entering into a direct sales contract with a purchaser, (a) a supplier shall furnish the supplier’s address; and (b) a salesperson of a supplier shall furnish the supplier's and the salesperson’s own address in writing to that purchaser. (4) A provision in a written direct sales contract to the effect that that contract contains the entire agreement entered into between the parties shall not prevail over oral representations made by the salesperson or supplier with the intent or effect of inducing the purchaser to enter into the contract. (5) A supplier or salesperson shall, immediately upon receiving a payment under a direct sales contract, deliver to the purchaser a written receipt. 2009 cC-31.1 s24 ; 2022 c28 s10 Back to Top Cancellation rights 25. A statement of cancellation rights shall comply with the requirements of the regulations. 2009 cC-31.1 s25 Back to Top Cancellation of contract 26. (1) A direct sales contract may be cancelled (a) within 10 days after a copy of the contract is received; or (b) within one year from the date of entering the contract where (i) the supplier does not comply with legislative or regulatory requirements regarding licensing or registration, including financial security requirements or conditions on the supplier’s licence or registration at the time the contract was made, within 30 days of the date stated in the contract, or where the goods or services have not been received, unless delivery has been accepted after the 30 days have passed, (ii) the supplier does not meet the requirements for the content of the contract as specified in subsection 24 (1), or (iii) within 30 days of the supply date specified in the contract, or the amended supply date agreed upon, the service has not started or the goods and services have not been received and delivery has not been accepted, after the 30 days have lapsed. (2) Where a direct sales contract is cancelled, the supplier shall, within 15 days of the cancellation, refund to the consumer all money and return to the consumer any trade-in or an amount equal to the value of the trade-in received under the contract. (3) In the case of a contract respecting goods, the consumer shall, upon receiving the refund and return of the trade-in, or an amount equal to the value of the trade-in, return the goods to the supplier. (4) Cancellation of a contract shall be by notice and a notice of cancellation is adequate if, however expressed, it indicates the intention of the consumer to cancel the contract. (5) Where a consumer cancels a direct sales contract, the consumer shall send or deliver the cancellation notice to the supplier using a method where the consumer can provide evidence the consumer cancelled the contract and the date on which this occurred, including registered mail, fax or personal delivery. (6) Where a method of sending or delivering the cancellation notice other than personal delivery is used, the cancellation is considered to be given when sent. (7) A breach of an administrative requirement that does not affect a consumer's interests shall not result in extended cancellation rights. (8) These provisions do not affect another remedy or right the consumer may have at law. 2009 cC-31.1 s26 ; 2022 c28 s11 Back to Top Restriction on enforcement of contract 27. An action shall not be brought by a supplier against a purchaser for the enforcement of a direct sales contract unless the supplier was licensed, under this Act, at the time that the purchaser entered into the contract. 2009 cC-31.1 s27 Division 2 Distance Sales Contracts 2012 c7 s3 Back to Top Definition 28. In this Division and Division 3, "distance sales contract" means a contract for the supply of goods or services between a supplier and a consumer that is not entered into in person and, with respect to goods, for which the consumer does not have the opportunity to inspect the goods that are the subject of the contract before the contract is entered into, but does not include a prepaid purchase card. 2012 c7 s4 Back to Top Disclosure of information 29. (1) A supplier shall disclose the following information to a consumer before the consumer enters into a distance sales contract: (a) the information referred to in section 24 ; (b) if available, the supplier's electronic mail address; (c) a detailed description of the goods or services to be supplied under the contract, including relevant technical or system specifications; (d) the currency in which amounts owing under the contract are payable; (e) the supplier's delivery arrangements, including the identity of the shipper, the mode of transportation and the place of delivery to the consumer; (f) the supplier's cancellation, return, exchange and refund policies; and (g) other prescribed information. (2) The supplier shall disclose the information required under subsection (1) in a clear and comprehensible manner. 2009 cC-31.1 s29 Back to Top Distance sales contract in electronic form 30. (1) In this section, "electronic" has the same meaning as in the Electronic Commerce Act . (2) Before a consumer enters into a distance sales contract that is in electronic form, a supplier shall (a) make the information required under section 29 available in a manner that (i) requires the consumer to access the information, and (ii) allows the consumer to retain and print the information; and (b) provide a consumer with an express opportunity (i) to correct errors in the contract, and (ii) to accept or decline the contract. 2009 cC-31.1 s30 Back to Top Copy of distance sales contract 31. (1) A supplier shall give a consumer who enters into a distance sales contract a copy of the contract within 15 days after the contract is entered into. (2) The copy of the distance sales contract given under subsection (1) shall contain (a) the information described in section 29 , (b) the consumer's name, and (c) the date the contract was entered into. (3) A supplier may give a copy of a distance sales contract to a consumer (a) by sending the copy by electronic mail to the electronic mail address provided by the consumer to the supplier for the provision of information related to the contract, or (b) by giving the copy by another manner that enables the supplier to prove that the consumer has received and retained the copy. (4) A copy of the distance sales contract given in accordance with paragraph (3)(a) is considered to be received on the third day after it is sent. 2009 cC-31.1 s31 Back to Top Cancellation of distance sales contract 32. (1) A consumer may cancel a distance sales contract by giving notice of cancellation to the supplier (a) not later than 10 days after the date that the consumer receives a copy of the contract where (i) the supplier does not comply with section 30 , or (ii) the contract does not comply with section 31 , (b) not later than 30 days after the date that the contract is entered into where the supplier does not provide the consumer with a copy of the contract in accordance with subsection 31 (1), (c) before the goods or services are delivered where the goods or services to be delivered under the contract are not delivered to the consumer within 30 days of the supply date, or (d) before the goods or services are delivered where the supply date is not specified in the contract and the supplier does not deliver the goods or services within 30 days from the date the contract is entered into. (2) Where a distance sales contract is cancelled under subsection (1), the following are also cancelled: (a) another related consumer transaction; (b) a guarantee given in respect of the total price under the contract; (c) security given by the consumer in respect of the total price under the contract; and (d) where credit is extended or arranged by the supplier in respect of a distance sales contract, the credit agreement, whether or not the credit agreement is a part of or attached to the distance sales contract. 2009 cC-31.1 s32 Back to Top Refunds by supplier on cancellation 33. Where a distance sales contract is cancelled under section 32 , the supplier, within 15 days after the notice of cancellation has been given, shall refund to the consumer, without deduction, all money received in respect of the contract and in respect of a related consumer transaction, whether received from the consumer or another person. 2009 cC-31.1 s33 Back to Top Return of goods by consumer on cancellation 34. (1) Where a distance sales contract is cancelled under section 32 , the consumer, within 15 days after the notice of cancellation has been given or after the goods have been delivered to the consumer, whichever is later, shall return goods received under the contract by delivering the goods to the person or place named in the contract as the person to whom or as the place where notice of cancellation may be given. (2) The consumer shall return the goods unused and in the same condition as that in which they were delivered. (3) The consumer may return the goods by a method that permits the consumer to produce confirmation of the delivery to the supplier. (4) The supplier shall accept the goods returned under subsection (2). (5) The supplier is responsible for the reasonable cost of returning the goods. (6) Goods that are returned by the consumer other than by delivery in person are considered to have been returned at the time the goods are sent. 2009 cC-31.1 s34 Back to Top Consumer's recourse regarding credit card charges 35. (1) A consumer who has charged to a credit card all or a part of the total price under a distance sales contract or a related consumer transaction may request the credit card issuer to cancel or reverse the credit card charge and associated interest or other charges where the consumer has cancelled the contract under section 32 and the supplier has not refunded all money as required under section 33 . (2) The request under subsection (1) shall contain the following information: (a) the supplier's name; (b) the date the distance sales contract was entered into; (c) the amount charged to the credit card in respect of the distance sales contract and a related consumer transaction; (d) a description of the goods or services sufficient to identify them; (e) the reason for cancellation of the distance sales contract; and (f) the date and method of cancellation of the distance sales contract. (3) The credit card issuer shall (a) acknowledge the consumer's request within 30 days of receiving it, and (b) if the request meets the requirements of subsection (2), cancel or reverse the credit card charge and any associated interest or other charges within the earlier of (i) 2 complete billing cycles of the credit card issuer, and (ii) 90 days. 2009 cC-31.1 s35 Division 3 Distance Service Contracts Rep. by 2022 c28 s12 Back to Top Rep. by 2022 c28 s12 35.1 [Rep. by 2022 c28 s12] 2022 c28 s12 Back to Top Rep. by 2022 c28 s12 35.2 [Rep. by 2022 c28 s12] 2022 c28 s12 Back to Top Rep. by 2022 c28 s12 35.3 [Rep. by 2022 c28 s12] 2022 c28 s12 Back to Top Rep. by 2022 c28 s12 35.4 [Rep. by 2022 c28 s12] 2022 c28 s12 Back to Top Rep. by 2022 c28 s12 35.5 [Rep. by 2022 c28 s12] 2022 c28 s12 Back to Top Rep. by 2022 c28 s12 35.6 [Rep. by 2022 c28 s12] 2022 c28 s12 Back to Top Rep. by 2022 c28 s12 35.7 [Rep. by 2022 c28 s12] 2022 c28 s12 Back to Top Rep. by 2022 c28 s12 35.8 [Rep. by 2022 c28 s12] 2022 c28 s12 Back to Top Rep. by 2022 c28 s12 35.9 [Rep. by 2022 c28 s12] 2022 c28 s12 Back to Top Rep. by 2022 c28 s12 35.10 [Rep. by 2022 c28 s12] 2022 28 s12 Back to Top Rep. by 2022 c28 s12 35.11 [Rep. by 2022 c28 s12] 2022 c28 s12 Back to Top Rep. by 2022 c28 s12 35.12 [Rep. by 2022 c28 s12] 2022 c28 s12 Back to Top Rep. by 2022 c28 s12 35.13 [Rep. by 2022 c28 s12] 2022 c28 s12 Back to Top Rep. by 2022 c28 s12 35.14 [Rep. by 2022 c28 s12] 2022 c28 s12 Back to Top Rep. by 2022 c28 s12 35.15 [Rep. by 2022 c28 s12] 2022 c28 s12 Back to Top Rep. by 2022 c28 s12 35.16 [Rep. by 2022 c28 s12] 2022 c28 s12 PART VI CREDIT REPORTS Back to Top Definitions 36. In this Part (a) "credit information" means information about an individual's credit, including the individual's name, age, place of residence, previous places of residence, marital status, spouse's name and age, number of dependants, particulars of education or professional qualifications, place of employment, previous places of employment, estimated income, paying habits, outstanding debt obligations, cost of living, or obligations and assets; (b) "credit reporting agency" means a person who is engaged in providing credit reports to another person, whether for remuneration or otherwise; and (c) "report" means a written, oral or other communication respecting credit information of an individual. 2009 cC-31.1 s36 Back to Top Application of Part 37. This Part does not apply to a credit reporting agency, the reports of which deal only with industrial or commercial enterprises and are distributed only to those enterprises. 2009 cC-31.1 s37 Back to Top Disclosure of consumer report 38. (1) A credit reporting agency shall not provide a credit report except (a) in response to an order of a court; (b) in accordance with the written instructions of the consumer to whom the credit report relates; (c) in response to an order or direction made under this Part; (d) with the prior consent of the consumer to whom the credit report relates, to a person that it has reason to believe (i) is involved in a business or credit transaction with the consumer, or (ii) intends to use the credit report for employment purposes; or (e) to the government of the province or of Canada, or to a peace officer acting in the course of the peace officer’s duties. (2) A person shall not seek to obtain a credit report from a credit reporting agency except for the purposes set out in subsection (1). 2009 cC-31.1 s38 ; 2022 c28 s13 Back to Top Contents of consumer report 39. (1) A credit report shall not contain (a) information of an unfavourable personal nature unless reasonable efforts have been made to corroborate the information, the absence of the corroboration is noted and accompanies the information, and the information is less than 7 years old; (b) information as to judgments or judicial proceedings for the recovery of money owing for goods or services, or based upon default under a conditional sale contract or mortgage or chattels or realty, 7 years after the default first occurred or the judgment was given; (c) information as to bankruptcies 7 years from the date of a discharge, except where a consumer has been bankrupt more than once; (d) information as to debt 6 years after it has become due, unless the debt has been acknowledged by the debtor or the debtor's agent either in writing or by making part payment or partial satisfaction of the debt, in which case the 6 year period runs from the date of the most recent acknowledgment of the debt; (e) information as to the non-payment of taxes or lawfully imposed fines 7 years after they have become due; (f) information as to convictions for crimes 7 years from the date of conviction or, where the conviction resulted in imprisonment, 7 years from the date of release or parole, but convictions for crimes shall not be reported after a full pardon has been granted; (g) information as to criminal charges where those charges have been dismissed or not proceeded with; (h) information as to race, religion, sex, political opinion, colour, or ethnic, national or social origin; (i) information as to writs that are more than 7 years old; (j) information as to writs that have been issued more than one year before the making of the credit report, unless the credit reporting agency has ascertained the current status of the writ and has a record of its current status in the credit report; or (k) other information as prohibited by the regulations. (2) A credit reporting agency shall not collect, store, retain or report credit information unless it is capable of corroboration from another source, and a reference to that source appears in the records of that agency. (3) A credit reporting agency shall not collect, store, retain, or report personal information unless it has made reasonable efforts to corroborate the evidence on which the personal information is based and a lack of corroboration is noted with the personal information and accompanies a consumer report including the personal information. (4) A credit reporting agency shall not include in a credit report information other than the information stored in a form producible under section 42 . 2009 cC-31.1 s39 Back to Top Credit report 40. Where the credit risk of a consumer is being assessed by a person, that person shall, upon the request of the consumer, inform the consumer if a credit report has been obtained and the name of the credit reporting agency. 2009 cC-31.1 s40 Back to Top Personal information 41. A person shall not procure or prepare a credit report containing personal information from a credit reporting agency unless that person notifies the consumer in writing of that person’s intention to procure or prepare the report, together with the name and address of the credit reporting agency. 2009 cC-31.1 s41 ; 2022 c28 s14 Back to Top Disclosure of file to consumer 42. (1) A credit reporting agency, during normal business hours, upon the request of a consumer, and without charge, (a) shall disclose to the consumer whether or not it has collected or retains credit information respecting the consumer; (b) shall produce for examination in written form, clearly understandable to the consumer, the contents of all the credit information; and (c) shall disclose the names of the recipients of a credit report and the contents of the report, made within a period of one year before the request. (2) The credit reporting agency concerned shall permit a person to whom credit information is disclosed under subsection (1) to make a copy. 2009 cC-31.1 s42 ; 2022 c28 s15 Back to Top Alteration of consumer information 43. (1) The director may direct the alteration, amendment, restriction or prohibition of the use of credit information that in the director’s opinion is inaccurate or does not comply with this Part, and the credit reporting agency concerned shall comply with the director's direction under this section. (2) Where a credit reporting agency is directed to alter or amend credit information under subsection (1) or alters or amends incorrect credit information without a direction from the director, the credit reporting agency shall notify all persons who have been supplied with the credit report within one year before the alteration or amendment. 2009 cC-31.1 s43 ; 2022 c28 s16 Back to Top Sale of files 44. A person who is or has been a credit reporting agency shall not sell or lease its files except to a credit reporting agency registered under this Part. 2009 cC-31.1 s44 PART VII COST OF CONSUMER CREDIT DISCLOSURE Back to Top Interpretation 45. (1) In this Part (a) "advance" and "advanced" means value received in accordance with subsection (2 ); (b) " APR " means the annual percentage rate calculated in accordance with the regulations; (c) "associate", where used to indicate a relationship with a person means (i) a corporation of which that person beneficially owns or controls, directly or indirectly, shares or other securities currently convertible into shares, that carry more than 10% of the voting rights (A) under all circumstances, (B) because of the occurrence of an event that has occurred and is continuing, or (C) because of a currently exercisable option or right to purchase those shares or those convertible securities, (ii) a partner of that person acting on behalf of the partnership of which they are partners, (iii) a trust or estate in which that person has a substantial beneficial interest or in respect of which the person serves as trustee or in a similar capacity, (iv) a spouse or child of that person, or (v) a relative of that person or of the person’s spouse where that relative has the same residence as that person; (d) "assumed residual payment" means ( i ) for an option lease under which the option price at the end of the term is less than the estimated residual value, that option price, and (ii) in any other case, the estimated residual value plus an amount that the lessee will be required to pay in the ordinary course of events at the end of the term; (e) "borrower" means an individual who has entered into or who is negotiating to enter into a credit agreement if that individual, under that agreement, receives or is to receive credit from another party to the agreement, and (i) does not include a guarantor, and (ii) in Divisions 1 and 6 includes a lessee; (f) "brokerage fee" means an amount that a mortgagor or other borrower pays or agrees to pay to a mortgagee or loan broker as consideration for services in arranging, negotiating or facilitating the granting of credit to the mortgagor or borrower and includes an amount that is (i) deducted from the amount of credit that is extended to the mortgagor or borrower under the credit agreement, and (ii) paid to the mortgagee or loan broker by the credit grantor; (g) "business day", with respect to a credit grantor, means a day on which the credit grantor is open for business; (h) "capitalized amount" means the cash value of the leased goods plus the amount of other advances made to the lessee at or before the beginning of the term, minus the total amount of all payments made by the lessee at or before the beginning of the term; (i) "cardholder" means an individual who is a borrower with respect to a credit card;

(j) "cash customer" means a person who buys a product and who provides full payment for the product at or before the time of its receipt; (k) "cash price", with respect to a product, means (i) for a sale to a borrower by a credit grantor or by an associate of a credit grantor who sells the product to cash customers in the ordinary course of business an amount that fairly represents the price for which the seller sells that product to cash customers, or, if the seller and the borrower agree on a lower price, that lower price, (ii) for a sale to which subparagraph (i) does not apply, the price agreed upon by the parties, or (iii) for an advertisement by a credit grantor or an associate of the credit grantor, the price at which the product is currently offered to cash customers or, if the credit grantor or the associate of the credit grantor does not currently offer the product to cash customers, the price stated in the advertisement, and for the purpose of determining the amount advanced under a credit agreement, includes discounts, taxes and other charges payable by a cash customer; (l) "cash value" , in relation to leased goods, means ( i ) where the lessor sells like goods to cash customers in the ordinary course of carrying on business, (A) a value that fairly represents the price for which the lessor sells those goods to cash customers, or (B) where the lessor and the lessee agree on a lower cash value, that lower cash value, or (ii) where the lessor does not sell like goods to cash customers in the ordinary course of carrying on business, (A) the lessor's reasonable estimate of the price at which cash customers would buy those goods, or (B) if the lessor and the lessee agree on a lower cash value, that lower cash value; (m) "credit agreement" includes an agreement under which credit is extended that is (i) an agreement with respect to a loan of money, a credit sale, a line of credit or a credit card, (ii) a lease to which Divisions 1 and 6 apply, and (iii) a renewal of an agreement referred to in subparagraph (i) or (ii ); (n) "credit card" means a card or other device that can be used to obtain advances under a credit agreement for open credit; (o) "credit card issuer" means a person who is a credit grantor with respect to a credit card; (p) "credit grantor" means (i) a person who entered into or is negotiating to enter into a credit agreement if that person, under that agreement, extends or is to extend credit to another party to the agreement, (ii) if the rights of the person referred to in subparagraph (i) under the credit agreement are assigned to an assignee, that assignee, upon notice being given to the borrower, (iii) a credit card issuer, (iv) a mortgage broker and a loan broker, and (v) a lessor to whom Divisions 1 and 6 apply; (q) "credit sale" means a sale of a product in which the purchase is financed by the seller or manufacturer of the product or by an associate of the seller or manufacturer; (r) "default charge" means a charge imposed on a borrower who fails to make a payment as it becomes due under a credit agreement or who fails to comply with another obligation under a credit agreement, but does not include interest on an overdue payment; (s) "disbursement charge" means an expense that is incurred by a credit grantor for the purpose of arranging, documenting, insuring or securing a credit agreement and charged by the credit grantor to the borrower that is (i) a fee paid to register a document or information in, or to obtain a document or information from a public registry of an interest in real or personal property, (ii) the cost of professional services required for the purpose of confirming the value, condition, location or conformity to law of property that serves as security for a credit agreement if the borrower is given a report signed by the person providing the professional services and is free to give the report to third persons, (iii) for a high ratio mortgage as defined by regulation, a premium for insurance that protects the credit grantor against the risk of borrower default and a fee for tax account maintenance, and (iv) an expense designated by regulation as a disbursement charge; (t) "estimated residual cash payment" means the amount that a lessee will be required to pay to a lessor at the end of the term of a residual obligation lease if the realizable value of the leased goods at the end of the term equals their estimated residual value; (u) "estimated residual value" means the reasonable estimate, made by the lessor at the time the lease agreement was entered into, of the wholesale value of the leased goods at the end of the term; (v) "fixed credit" means credit under a credit agreement that is not for open credit; (w) "floating rate" means an interest rate that bears a specified mathematical relationship to an index rate that is an interest rate (i) subject to a minimum or a maximum rate, or (ii) determined at the beginning of a period and applies throughout the period regardless of changes in the index rate during the period; (x) "grace period" means a period in which interest accrues but will be forgiven if the borrower satisfies conditions specified in the credit agreement; (y) "implicit finance charge" means the sum of all non-refundable payments required to be made by the lessee at or before the beginning of, or during, the term plus the assumed residual payment, minus the total amount advanced to the lessee; (z) "index rate" means, with respect to a credit agreement, the rate that meets the criteria prescribed by regulation; (aa) "individual" means a natural person; (bb) "initial disclosure statement" means with respect to a credit agreement or a lease, the disclosure statement that is required under section 47 for that credit agreement or lease; (cc) "interest" means charges that accrue over time and are determined by applying a rate to an amount that is owing from time to time under a credit agreement; (dd) "interest-free period" means a period following the making of an advance during which interest does not accrue on the advance; (ee) "lease" means an agreement for the hire of goods, except an agreement for the hire of goods with respect to a residential tenancy agreement; (ff) "lessee" means an individual who entered into or who is negotiating to enter into a lease if that individual, under that lease, hires or is to hire goods from another party to the agreement; (gg) "lessor" means a person who entered into or who is negotiating to enter into a lease if that person, under that lease, leases or is to lease goods to another party to the agreement; (hh) "loan broker" means a person who, for compensation, arranges, negotiates or facilitates an extension of credit; (ii) "mortgage broker" means a person who, for compensation, arranges, negotiates or facilitates an extension of a mortgage loan; (jj) "mortgage loan" means a loan of money secured by an interest in real property; (kk) "non-interest finance charge" means a charge that a borrower is required to pay with respect to a credit agreement, other than (i) interest, (ii) a prepayment charge, (iii) a default charge, (iv) a charge for an optional service, (v) a charge for a service referred to in paragraph (2)(f), (g) or (h), or (vi) with respect to a credit sale, a charge that would also be payable by a cash customer; (ll) "open credit" means credit under a credit agreement if the credit agreement (i) anticipates multiple advances that are to be made when requested by the borrower in accordance with the agreement, and (ii) does not establish the total amount to be advanced to the borrower under the agreement although it may impose a credit limit; (mm) "option lease" means a lease that gives the lessee the right to acquire title to or retain permanent possession of the leased goods by making a payment in addition to the payments required under the lease or by satisfying other specified conditions; (nn) "option price" means the amount of the additional payment that the lessee shall make in order to exercise the option under an option lease; ( nn .1) "optional service" means a service that is offered to a borrower in connection with a credit agreement and that the borrower does not have to accept in order to enter into the credit agreement; ( oo ) "outstanding balance" means the total amount owing at any particular time under a credit agreement; (pp) "payment" means value given by a borrower within the meaning of subsection (2 ); (qq) "payment period" means one of the intervals into which the term of a credit agreement or a lease is divided for the purpose of determining the amount of and timing of payments; (rr) "periodic payment" means a payment that, under a credit agreement or a lease, is to be made with respect to each payment period established under that agreement or lease; (ss) "residual obligation lease" means a lease under which the lessee may be required at the end of the lease term to pay the lessor an amount based wholly or partly on the difference between the estimated residual value and the realizable value of the leased goods; (tt) "scheduled payments credit agreement" means a credit agreement for fixed credit under which the amount advanced is to be repaid in accordance with a specified schedule of payments and that schedule may be subject to adjustment to accommodate contingencies including changes in the interest rate; (uu) "security interest" means an interest in property that secures the borrower’s obligations under a credit agreement; (vv) "spouse" means either of 2 persons who (i) are married to each other, (ii) are married to each other by a marriage that is voidable and has not been voided by a judgment of nullity, or (iii) have gone through a form of marriage with each other, in good faith, that is void and are cohabiting or have cohabited within the preceding year; (ww) "term", with respect to a lease, unless the context indicates otherwise, means the period during which the lessee is entitled to retain possession of the leased goods; (xx) "total cost of credit" means the difference between the value given or to be given within the meaning of subsection (4) by the borrower with respect to a credit agreement and the value received or to be received, within the meaning of subsection (2) by the borrower with respect to the credit agreement, disregarding the possibility of prepayment or default; and (yy) "total lease cost" means the total of non-refundable payments that the lessee will be required to make in the ordinary course of events. (2) The following constitute value received or to be received by a borrower with respect to a credit agreement: (a) money transferred or to be transferred by the credit grantor to the borrower or to the order of the borrower under the credit agreement; (b) the cash price of a product purchased or to be purchased under the credit agreement; (c) the amount of a pre-existing monetary obligation of the borrower that is paid, discharged or consolidated by the credit grantor under the credit agreement; (d) the cash value of goods under a lease; (e) the amount of money obtained or to be obtained or the cash price of a product obtained or to be obtained through the use of a credit card obtained under the credit agreement; (f) a following expense if the credit grantor incurred or is to incur the expense for the purpose of arranging, documenting, insuring or securing the credit agreement: (i) fees to a third party to record or register a document or information in, or to obtain a document or information from, a public registry of interest in real or personal property, (ii) fees for professional services required for the purpose of confirming the value, condition, conformity to law or location of property that serves as security for a credit agreement, if the borrower is given a report signed by the person providing the professional services and is free to give the report to other persons, (iii) premiums for (A) insurance that protects the credit grantor against default on a high-ratio mortgage, (B) casualty insurance on the subject matter of a security interest if the borrower is a beneficiary of the insurance and the insured amount is the full insurable value of the subject matter, and (C) insurance provided or paid for by the credit grantor with respect to a credit agreement if the insurance is optional, and (iv) an application fee for insurance referred to in clause (iii)(A ); (g) service provided or to be provided by the credit grantor to maintain a tax account on a high-ratio mortgage, expressed in the amount of a reasonable fee for that service, whether the tax account is required with respect to the credit agreement or is requested by the borrower; and (h) anything designated under the regulations as value received by the borrower for the purpose of this subsection. (3) Notwithstanding subsection (2), the following do not constitute value received or to be received by a borrower with respect to a credit agreement unless they relate to an optional service, expense, service or thing under paragraph (2)(f) or (g): (a) money paid or to be paid, an expense incurred or to be incurred or anything done or to be done by the credit grantor for the purpose of arranging, documenting, securing, administering or renewing the credit agreement; (b) insurance provided or paid for or to be provided or paid for by the credit grantor with respect to the credit agreement; and (c) another thing that may be prescribed by regulation for the purpose of this subsection. (4) The following constitutes value given or to be given by a borrower with respect to a credit agreement: (a) money transferred or to be transferred from the borrower to the credit grantor with respect to the credit agreement; (b) money transferred or to be transferred from the borrower to a person other than the credit grantor with respect to a charge for services that the credit grantor requires the borrower to obtain or pay for with respect to the credit agreement, unless the charge (i) is for an expense to which paragraph (2)(f) or (h) would have applied if the expense had been incurred initially by the credit grantor and then charged directly to the borrower, (ii) is for services provided by a lawyer chosen by the borrower, or (iii) is for charges for shares in a credit union that a borrower shall buy as a condition of entering into a credit agreement with the credit union; and (c) another thing that may be prescribed by regulation for the purpose of this subsection. 2009 cC-31.1 s45 ; 2010 c11 s1 ; 2010 c31 s5 ; 2022 c28 s17 Division 1 Application Back to Top Application 46. (1) This Part applies to a (a) credit agreement where (i) the borrower is an individual who enters into a credit agreement for primarily personal, family or household purpose, and (ii) either (A) the credit grantor enters into the agreement in the ordinary course of business, or (B) the credit agreement is arranged by a loan broker; and (b) borrower, credit agreement, credit grantor or loan broker or a class of borrowers, credit agreements, credit grantors or loan brokers prescribed in the regulations. (2) For the purpose of subparagraph (1)(a)(i), a credit grantor is entitled to rely on a statement in a credit agreement or other document regarding the purpose for which a borrower enters into a credit agreement, if the statement is signed by the borrower and the credit grantor believes in good faith that the statement is true. (3) Notwithstanding subsection (1), this Part does not apply to (a) a credit sale where all of the following occur: (i) the credit sale anticipates a single payment in the full amount for the product within a certain period after a written invoice or statement of account is delivered to the buyer, (ii) the credit sale is unconditionally interest-free during the payment period referred to in subparagraph (i), (iii) the credit sale is unsecured, apart from a lien on the product that may arise by operation of law, (iv) the credit sale is not assigned in the ordinary course of the credit grantor’s business otherwise than as security, and (v) the credit sale does not provide for non-interest finance charges; or (b) a borrower, credit agreement, credit grantor or loan broker, or a class of borrowers, credit agreements, credit grantors or loan brokers, exempted under the regulations. (4) For the purpose of credit agreements that are payday loans, Part VII.1 applies instead of this Part. 2009 cC-31.1 s46 ; 2016 c46 s2 Back to Top Delivery of disclosure statements 47. (1) A credit grantor who has entered into or is negotiating to enter into a credit agreement with an individual who is the borrower under that agreement shall deliver to the borrower a disclosure statement with respect to that credit agreement before the earlier of the date on which the borrower (a) enters into the credit agreement; or (b) makes a payment in connection with the credit agreement. (2) Notwithstanding subsection (1), a credit grantor who has entered into or who is negotiating to enter into a credit agreement to provide a mortgage loan to an individual who is the borrower under that agreement shall deliver a disclosure statement with respect to that credit agreement to the borrower in accordance with the regulations. 2009 cC-31.1 s47 Back to Top Disclosure 48. (1) A credit grantor who is required to provide a disclosure statement or a statement of account under this Part shall ensure that the statement (a) is in writing or another form that is consented to, in writing by the borrower, and the credit grantor shall retain that statement and consent as a record for future use; (b) contains the information required under this Part; and (c) expresses that information clearly, concisely, in a logical order and in a manner that is likely to bring the information to the borrower’s attention. (2) A disclosure statement or a statement of account may be a separate document or part of another document provided to the borrower. (3) Information disclosed under this Part whether in a disclosure statement, advertisement or otherwise may be based on an estimate or assumption if the (a) disclosure depends on information that is not ascertainable by the credit grantor at the time of the disclosure; and (b) estimate or assumption is reasonable and is clearly identified in the document effecting the disclosure as an estimate or assumption. (4) Where an advertisement is published and information is disclosed in that advertisement that, under this Part, requires other information to be included in that advertisement, the credit grantor who publishes or on whose behalf the advertisement is published shall disclose the information in the manner required by regulation. (5) Where information in a disclosure statement is inconsistent with information or a provision set out in the credit agreement, the credit agreement is presumed to incorporate the information or provision that is more favourable to the borrower, unless it is proven that the less favourable information or provision reflects the borrower’s actual understanding of the provisions of the agreement. 2009 cC-31.1 s48 Back to Top Delivery 49. (1) Where there is more than one borrower under a credit agreement, a disclosure statement or other document that is required to be delivered to the borrowers may be delivered to one of the borrowers, and it is unnecessary to deliver a separate copy to each borrower. (2) A document sent by ordinary mail to a borrower at the mailing address provided by the borrower to the credit grantor shall be considered, in the absence of evidence to the contrary, to have been delivered to the borrower 7 days after it was sent. 2009 cC-31.1 s49 Division 2 Rights and Obligations Back to Top Insurer 50. (1) A borrower who is required by a credit grantor to purchase insurance may purchase it from an insurer authorized to provide that type of insurance in the province but the credit grantor may, on reasonable grounds, reserve the right to disapprove an insurer selected by the borrower. (2) A credit grantor who offers to provide or to arrange insurance referred to in subsection (1) shall, at the time of that offer, clearly disclose to the borrower in writing that the borrower may, in accordance with subsection (1), purchase the required insurance through an insurance agent and insurer of the borrower’s choice. 2009 cC-31.1 s50 Back to Top Cancellation of optional services 51. (1) A borrower may cancel an optional service of a continuing nature that is provided by the credit grantor or an associate of the credit grantor by giving 30 or more days notice or a shorter period of notice where that shorter notice is provided for by the agreement under which the service is provided. (2) A borrower who cancels an optional service under subsection (1) is (a) not liable for charges relating to a portion of the service that has not been provided at the time of the effective date of the cancellation; and (b) entitled to a refund of an amount already paid for those charges. 2009 cC-31.1 s51 Back to Top Prepayment of credit 52. (1) This section does not apply to mortgage loans. (2) A borrower is entitled to prepay the full outstanding balance owing under a credit agreement without a prepayment charge or penalty. (3) Where a prepayment under subsection (2) is made with respect to a credit agreement for fixed credit, the credit grantor shall refund or credit to the borrower the portion of non-interest finance charges paid by the borrower or added to the outstanding balance as prescribed by regulation. (4) A borrower is entitled, on a scheduled payment date or at least monthly, to prepay less than the full outstanding balance owing under a credit agreement for fixed credit, without a prepayment charge or penalty, but, in that event, is not entitled to a refund or credit of non-interest finance charges. 2009 cC-31.1 s52 ; 2010 c11 s2 Back to Top Default charges 53. A credit agreement shall not impose default charges other than reasonable charges (a) with respect to legal costs incurred in collecting or attempting to collect payment; (b) with respect to costs, including legal costs, incurred in realising a security interest or protecting the subject matter of a security interest after default; and (c) that reflect costs incurred by the credit grantor because a cheque or other payment instrument given by the borrower to the credit grantor was dishonoured. 2009 cC-31.1 s53 Back to Top Invitation to defer payment and acceleration clause 54. (1) Where a credit grantor invites a borrower to defer making a payment that would otherwise be due under a credit agreement, the credit grantor shall, in that invitation, clearly disclose whether or not interest will accrue on the unpaid amount during the period for which the payment is deferred. (2) Where an invitation referred to in subsection (1) does not disclose whether or not interest will accrue on the unpaid amount during the period for which payment is deferred, the credit grantor shall be considered to have waived the interest that would otherwise accrue during that period. (3) Notwithstanding anything in a credit agreement, the whole or part of the outstanding balance does not become payable or otherwise accelerated, and an interest rate made specially applicable to the outstanding balance does not become effective in accordance with the acceleration clause, until written notice of the default or other event (a) is served personally on the borrower; or (b) is sent by registered mail to the borrower at the borrower’s latest address as shown on the records of the credit grantor. (4) Notwithstanding subsection (3), if the credit grantor sends a notice under paragraph (3)(b), the whole or part of the outstanding balance does not become payable or otherwise accelerated, and an interest rate made specially applicable to the outstanding balance does not become effective until 10 days after the date the notice was sent to the borrower. (5) In this section, "acceleration clause" means a clause in a credit agreement that provides that on default by the borrower or on the occurrence of another event, and whether or not at the option of the credit grantor, the whole or a part of the outstanding balance becomes immediately payable or is otherwise accelerated. 2009 cC-31.1 s54 Back to Top Non-business credit grantors 55. Where a loan broker secures for a borrower an extension of credit from a credit grantor who does not provide credit in the ordinary course of carrying on business, (a) the provisions of this Part and the regulations that impose a duty on a credit grantor shall be read as imposing that duty on the loan broker rather than on the credit grantor; and (b) where the borrower pays or is required to pay a brokerage fee, the loan broker shall ensure that the initial disclosure statement for the credit agreement (i) discloses the amount of the brokerage fee, and (ii) accounts for the brokerage fee in the APR and the total cost of credit where the credit is a fixed credit. 2009 cC-31.1 s55 ; 2010 c11 s3 Back to Top Business credit grantors 56. (1) Where a loan broker secures for a borrower an extension of credit from a credit grantor who does provide credit in the ordinary course of carrying on business, (a) if the credit grantor deducts a brokerage fee from the value received or to be received by the borrower in accordance with subsections 45 (2) and (3), the credit grantor shall ensure that the initial disclosure statement for the credit agreement (i) discloses the amount of the brokerage fee, and (ii) accounts for the brokerage fee in the APR and the total cost of credit where the credit is a fixed credit; and (b) if the loan broker takes a loan application from the borrower and forwards it to the credit grantor, the loan broker shall give to the borrower (i) a disclosure statement containing the information referred to in paragraph (a), and (ii) other information that, under this Part, is required to be disclosed in the initial disclosure statement for the credit agreement. (2) Where a loan broker gives a borrower a disclosure statement under paragraph (1)(b), the credit grantor may (a) adopt that disclosure statement as its own, in which case the credit grantor is jointly and individually liable with the loan broker for the content of that statement; or (b) elect to deliver to the borrower a separate disclosure statement containing the information that is required to be disclosed under this Part. 2009 cC-31.1 s56 ; 2010 c11 s4 Division 3 Fixed Credit Back to Top Application 57. (1) This Division applies only to credit agreements that extend fixed credit. (2) Where this Division applies to a credit sale, the credit grantor shall ensure that the credit agreement is a scheduled payments credit agreement. 2009 cC-31.1 s57 Back to Top Advertising 58. (1) This section applies only to advertisements that (a) offer credit to which this Division applies; and (b) state the interest rate or amount of a payment. (2) A credit grantor shall ensure that every advertisement to which this section applies that is published by or on behalf of the credit grantor discloses the APR and the term with respect to the proposed credit agreement. (3) A credit grantor to which subsection (2) applies shall ensure that if the advertisement is for a credit sale of a specifically identified product, (a) the advertisement discloses the cash price of that product; or (b) in connection with which a non-interest finance charge is to be payable, the advertisement discloses the (i) cash price of the product, and (ii) total cost of credit. 2009 cC-31.1 s58 Back to Top Advertising interest-free periods 59. (1) An advertisement that states or implies that no interest is payable for a certain period with respect to a transaction shall disclose whether (a) the transaction is unconditionally interest-free during the period; or (b) interest accrues during the period but will be forgiven under certain conditions. (2) Where interest accrues during a period but will be forgiven under certain conditions, the advertisement shall also disclose (a) those conditions; and (b) the APR that will apply to the period if those conditions are not met. (3) An advertisement to which subsection (1) applies that does not disclose the information required under paragraph (1)(b) and subsection (2) shall be considered to represent that the transaction is unconditionally interest-free during the relevant period. 2009 cC-31.1 s59 Back to Top Disclosure statements 60. (1) A credit grantor who has entered into or who is negotiating to enter into a scheduled payments credit agreement shall ensure that the disclosure statements for that credit agreement disclose the information required by regulation. (2) A credit grantor who has entered into or is negotiating to enter into a credit agreement that is not a scheduled payment credit agreement shall ensure that the disclosure statements for that credit agreement disclose the information required by regulation. 2009 cC-31.1 s60 Back to Top Interest change disclosure 61. (1) In addition to the disclosure statement required under section 60 , where the interest rate is a floating rate, the credit grantor shall, at least once every 12 months, deliver to the borrower a disclosure statement that contains the information required by regulation. (2) In addition to the disclosure statement required under section 60 , where the interest rate is not a floating rate but is subject to change, the credit grantor shall, within 30 days after the date on which the annual interest rate becomes one percent or more higher than the rate most recently disclosed to the borrower in writing, deliver to the borrower a disclosure statement that contains the following information: (a) the date of the statement; (b) the new annual interest rate and the date that the new annual interest rate takes effect; and (c) the new amount, and timing, of payments to be made after the date referred to in paragraph (b). 2009 cC-31.1 s61 Back to Top Increases in outstanding principal 62. (1) In addition to another document that the credit grantor is required to deliver to the borrower, the credit grantor shall deliver to the borrower a notice, in writing, in accordance with subsection (2) where , (a) the outstanding principal on a scheduled payments credit agreement increases, as a result of (i) the compounding of interest on a missed or late payment, or (ii) the imposition of a default charge; and (b) as a result of the increases in outstanding principal, the total amount of the payments the borrower is scheduled to make over a payment period does not cover the interest that will accrue during that payment period. (2) A notice under subsection (1) shall (a) be delivered to the borrower not more than 30 days after the most recently missed or late payment or default payment imposed; and (b) specify (i) that the outstanding principal has increased and why, (ii) that, because of the increase in principal , the subsequent scheduled payments will not cover the interest that will accrue in each payment period, and (iii) what the total outstanding balance will be at the end of the term if the amount of subsequent scheduled payments is not adjusted. 2009 cC-31.1 s62 Back to Top Amendments 63. (1) Where a credit agreement is amended, the credit grantor shall deliver a supplementary disclosure statement to the borrower not later than 30 days after the amendment is made. (2) The credit grantor shall ensure that a supplementary disclosure statement sets out the changed information but that statement need not repeat information that is unchanged since the previous disclosure statement. (3) This section does not apply to changes effected by a renewal to which section 64 applies. 2009 cC-31.1 s63 Back to Top Mortgage renewal disclosure 64. (1) Where the amortization period for a mortgage loan under a scheduled payments credit agreement is longer than the term of the mortgage, the credit grantor shall notify the borrower, in writing, not fewer than 21 days before the end of the term, whether or not the credit grantor is willing to renew the mortgage for a further term. (2) A credit grantor who is willing to renew a mortgage shall include, with the notice referred to in subsection (1), a disclosure statement, based upon the assumption that the borrower will make payments that are due under the current mortgage that includes the information required by regulation. (3) Where a credit grantor fails to provide the borrower with a renewal statement for a mortgage loan 21 or more days before the effective date of the renewal agreement, the borrower’s rights under the original loan agreement continue to apply until 21 days after the renewal statement is provided to the borrower. (4) Subsection (3) does not apply where (a) a credit grantor delivers to a borrower a disclosure statement with respect to the renewed mortgage not fewer than 21 days before the effective date of the renewed mortgage; and (b) that statement does not reflect the terms of the renewed mortgage by reason only that the (i) outstanding balance of the mortgage loan on the effective date of the renewed mortgage differs from that stated in the disclosure statement because of one or more missed, late, early or extra payments, (ii) interest rate under the renewed mortgage is lower than the interest rate stated in the disclosure statement, or (iii) amortization period or frequency of payments under the renewed mortgage differs from what was stated in the disclosure statement. (5) Where subsection (4) applies, the credit grantor shall, not more than 30 days after the effective date of the renewed mortgage, deliver to the borrower a revised disclosure statement that reflects the terms of the renewed mortgage. 2009 cC-31.1 s64 Division 4 Open Credit Back to Top Application 65. This Division applies to credit agreements that extend open credit. 2009 cC-31.1 s65 Back to Top Advertising 66. A credit grantor including a credit grantor associated with a credit card shall ensure that an advertisement that is published by or on behalf of the credit grantor shall disclose (a) the current annual interest rate; and (b) initial or periodic non-interest finance charges. 2009 cC-31.1 s66 Back to Top Interest free periods 67. (1) An advertisement that states or implies that no interest is payable for a certain period with respect to a transaction under a credit agreement shall disclose whether (a) the transaction is unconditionally interest free during the period; or (b) interest accrues during the period but will be forgiven under certain conditions. (2) Where interest accrues during the period but will be forgiven under certain conditions, the advertisement shall also disclose (a) those conditions; and (b) the annual interest rate for the period, assuming those conditions are not met. (3) An advertisement to which subsection (1) applies that does not disclose the information required under paragraph (1)(b) and subsection (2) shall be considered to represent that the transaction is unconditionally interest free during the relevant period. 2009 cC-31.1 s67 Back to Top Open credit disclosure 68. A credit grantor who has entered into or who is negotiating to enter into a credit agreement shall ensure that the initial disclosure statement for that credit agreement discloses the information required by regulation. 2009 cC-31.1 s68 Back to Top Statements of account 69. (1) A credit grantor shall, at least monthly, deliver to the borrower a statement of account containing as much of the following information as applicable (a) period covered by the statement and that period shall run from the date of the first advance or, where a statement has been delivered under this section, from the date of the statement of account most recently delivered to the borrower; (b) outstanding balance at the beginning of the statement period; (c) posting date, description and amount of each transaction or charge added to the outstanding balance during the statement period; (d) posting date and amount of each payment or credit subtracted from the outstanding balance during the statement period; (e) annual interest rate or rates in effect during the statement period or a part of the period; (f) total of all amounts added to the outstanding balance during the statement period; (g) total of all amounts subtracted from the outstanding balance during the statement period; (h) outstanding balance at the end of the statement period; (i) credit limit; (j) minimum payment; (k) due date for payment; (l) amount that the borrower shall pay on or before the due date in order to take advantage of a grace period; (m) borrower’s rights and obligations regarding the correction of billing errors; and (n) telephone number required under subsection (3). (2) Notwithstanding subsection (1), a credit grantor is not required to send a statement of account to a borrower at the end of a period during which there has been no advance of payment where (a) there is no outstanding balance at the end of the period; or (b) the borrower is in default and the credit grantor has (i) demanded payment of the outstanding balance, and (ii) given notice to the borrower that the borrower’s privileges to obtain advances under the agreement have been cancelled or suspended due to the default. (3) A credit grantor shall provide a telephone number that the borrower can use to obtain information about the borrower’s account during the credit grantor’s ordinary business hours and without incurring charges for the call, and the credit grantor shall ensure that that information is available at that number during those hours. 2009 cC-31.1 s69 ; 2010 c11 s5 Back to Top Transaction description 70. A transaction is sufficiently described if the description in the statement of account, along with a transaction record included with the statement of account or made available to the borrower at the time of the transaction, can reasonably be expected to enable the borrower to verify the transaction. 2009 cC-31.1 s70 Back to Top Credit card by application 71. (1) A credit card issuer shall not issue a credit card to an individual who has not applied for the card. (2) Subsection (1) does not apply to a credit card issued to an individual to replace or renew a card that was applied for by and issued to that individual. 2009 cC-31.1 s71 Back to Top Application for credit card 72. (1) A credit grantor who has entered into or who is negotiating to enter into a credit agreement for a credit card shall ensure that the application form for that credit card discloses the information required by regulation. (2) Notwithstanding subsection (1), instead of disclosing the information required under that subsection, the application form may disclose a telephone number that the cardholder can use to obtain that information during the credit card issuer’s ordinary business hours and without incurring charges for the call, and the credit card issuer shall ensure that that information is available at that number during those hours. (3) Notwithstanding subsection (2), where an individual applies for a credit card in person, by telephone or by electronic means, the credit card issuer shall disclose the information referred to in subsection (1) when the individual makes the application. (4) An individual who applies for a credit card without signing an application form shall be considered, on using the credit card for the first time, to have entered into a credit agreement with respect to that card in the terms of the disclosure statement referred to in subsection (5). (5) Nothing in this section relieves the credit card issuer from the requirement to deliver a disclosure statement in accordance with sections 54 and 73 . 2009 cC-31.1 s72 Back to Top Additional credit card disclosure 73. (1) In addition to the disclosure requirements of section 69 , a credit card issuer shall disclose, in the initial disclosure statement for a credit card, the card holder’s maximum liability for unauthorised use of the credit card if it is lost or stolen. (2) The credit card issuer shall notify the cardholder of a change in the information disclosed in a disclosure statement, (a) in the case of a change to the following information, in the next statement of account following the change in information or in a document that is given to the cardholder with the next statement of account: (i) a change in the credit limit, (ii) a decrease in the interest rate or the amount of other charges, (iii) an increase in the length of an interest free period or grace period, and (iv) a change in the floating interest rate; or (b) in another case, at least 30 days before the date that the change takes effect. 2009 cC-31.1 s73 Back to Top Limitation of liability 74. (1) A cardholder who has, orally or in writing, reported a lost or stolen credit card, or the unauthorised use of the credit card or credit card number, to the credit card issuer is not liable for a debt incurred through the use of that card after the credit card issuer receives the report. (2) The maximum total liability of a cardholder arising from unauthorised use of a lost or stolen credit card before the issuer receives notice under subsection (1) is the lesser of (a) $50; or (b) the maximum amount set by the credit agreement with respect to the credit card. (3) Subsection (2) does not apply to the use of a credit card in conjunction with a personal identification number at a device commonly referred to as an automated teller machine. 2009 cC-31.1 s74 Division 5 Leases of Goods Back to Top Application 75. This Division applies only to a lease that is (a) for a fixed term of 4 months or more; (b) for an indefinite term or is renewed automatically until one of the parties takes positive steps to terminate it; or (c) a residual obligation lease . 2009 cC-31.1 s75 Back to Top Advertising requirements 76. A lessor shall ensure that every advertisement that is published by or on behalf of the lessor and that gives specific information about the cost of a lease discloses the following information: (a) that the transaction is a lease; (b) the term of the lease; (c) the nature and amounts of payments that are payable by the lessee on or before the beginning of the term; (d) the amount, timing and number of the periodic payments; (e) the nature and amount of other payments that are payable by a lessee in the ordinary course of events; (f) the lease APR ; and (g) where required under this or another Part or another Act, information regarding extra charges based on the usage of the leased goods. 2009 cC-31.1 s76 Back to Top Disclosure 77. (1) A lessor who has entered into or who is negotiating to enter into a lease shall ensure that the initial disclosure statement for that lease discloses the information required by regulation. (2) The lessor shall deliver the initial disclosure statement to the lessee before the lessee enters into the lease or makes a payment with respect to the lease. 2009 cC-31.1 s77 Back to Top Maximum liability for residual obligation lease 78. Notwithstanding paragraph 45 ( 1)( ss), the maximum liability of a lessee at the end of the term of a residual obligation lease after returning the leased goods to the lessor is the sum of the following amounts as calculated in accordance with the regulations: (a) the estimated residual cash payment; and (b) the estimated residual value less the realizable value of the leased goods. 2009 cC-31.1 s78 Division 6 Compliance Back to Top Interpretation 79. For the purpose of this Division, a credit grantor shall be considered to have a compliance procedure where that credit grantor (a) requires its employees and agents to follow procedures or has implemented automated procedures designed to ensure that borrowers receive the information to which they are entitled at the time and in the form required under this Part; and (b) monitors the effectiveness of the measures referred to in paragraph (a) and promptly remedies deficiencies in their design or implementation. 2009 cC-31.1 s79 Back to Top Recovery of overpayments and compensation 80. (1) Notwithstanding an agreement to the contrary, where a borrower makes a payment to a credit grantor that the credit grantor is not entitled to receive, the credit grantor shall refund the payment to the borrower or, where the parties agree, credit the payment against the outstanding balance under the credit agreement as of the time the payment was made. (2) A credit grantor who contravenes this Part shall compensate a borrower for a loss the borrower suffers because of the contravention and the compensation to which the borrower is entitled may be set off against the outstanding balance of the credit agreement or may be recovered from the credit grantor in an action in a court. 2009 cC-31.1 s80 Back to Top Remedies 81. (1) A contravention of this Part is an excusable error where (a) the credit grantor had a compliance procedure to prevent or identify a contravention when the contravention occurred; (b) the contravention was accidental or the result of an employee’s or agent’s failure to follow the compliance procedure; and (c) on discovering the contravention, the credit grantor promptly took steps to minimize its effect on an affected borrower. (2) Where a credit grantor contravenes this Part in relation to a credit agreement and the contravention is not an excusable error, the borrower is entitled, in addition to another remedy to which the borrower may be entitled, to recover the damages provided for under this section from the credit grantor in an action in a court of competent jurisdiction. (3) The damages for a contravention of this Part are the lesser of $500 and 5% of whichever of the following is applicable: (a) for a credit agreement for fixed credit, the maximum outstanding balance; (b) for a lease, the capitalized amount; and (c) for a credit agreement for open credit, (i) with a specified credit limit, the credit limit, and (ii) without a specified credit limit, $500. (4) Where a contravention of this Part relates to a statement of account for open credit, the damages are equal to the interest and non-interest finance charges for the period covered by the statement of account. (5) A court may reduce the damages to which a borrower would otherwise be entitled under this section if the court is satisfied, in view of all the circumstances, including an undertaking as to future compliance that is given by the credit grantor, that it would be appropriate to do so. (6) The damages to which a borrower is entitled may be set off against an amount otherwise payable by the borrower to the credit grantor. (7) A remedy under this Part is in addition to and does not derogate from another legal, equitable or statutory remedy. (8) A court may award exemplary damages to a borrower against a person who has deliberately contravened this Part or if the court considers that the conduct of that person justifies an award of exemplary damages. 2009 cC-31.1 s81 Back to Top Assignee 82. (1) Except as otherwise provided in this section, a borrower may assert against a person to whom the rights of a credit grantor have been assigned, rights or remedies under section 49 , 80 or 81 that the borrower could have asserted against the original credit grantor. (2) The assignee’s maximum liability under a section referred to in subsection (1) is limited to the outstanding balance at the time of the assignment or the proportion of the outstanding balance that is assigned to the assignee. (3) An assignee does not incur liability under this section for a credit grantor’s contravention of this Part unless (a) the assignee knew of the contravention before the borrower received notice of the assignment;

(b) the contravention consists of the credit grantor’s failure to deliver a disclosure statement to the borrower; or (c) the contravention is apparent on the face of the disclosure statement or is apparent by comparing the disclosure statement with the written terms of the credit agreement. (4) An assignee is entitled to rely in good faith on a borrower’s signed acknowledgement of receipt of a disclosure statement. 2009 cC-31.1 s82 Division 7 Regulations Back to Top Regulations 83. (1) The Lieutenant-Governor in Council may make regulations for the purpose of this Part (a) defining a word for the purpose of this Part where that word is not defined in this Part; (b) respecting the calculation of (i) APR , (ii) lease APR , (iii) the penalty payable for the early termination of a lease, and (iv) another matter that under this Part is to be determined by calculation; (c) respecting the criteria to be used in determining what constitutes an index rate; (d) for the purpose of subparagraph 45(1)(s)(iv ); (e) prescribing credit agreements or classes of credit agreements to which this Part applies or does not apply; (f) respecting the information that shall be disclosed in a disclosure statement; (g) respecting the form and manner in which information required to be disclosed under this Part is to be disclosed; (h) defining for the purpose of advertisements, what constitutes a representative transaction and prescribing information that shall be disclosed in an advertisement that refers to one or more representative transactions; (i) respecting high ratio mortgages and realizable value; (j) for the purpose of subsection 72(1); (k) respecting the manner in which the estimated residual cash payment and the realizable value of leased goods is to be calculated; (l) respecting the determination that a thing received or to be received by a borrower as value received or to be received or as not constituting value received or to be received; (m) designating anything given or to be given by a borrower as value given or to be given; (n) prescribing expenses for the purpose of this Part; (o) respecting the time by which a credit grantor shall disclose the cost of borrowing to the borrower and the terms and conditions under which a time period may be waived; (p) prescribing the portion and manner of refunding and crediting non-interest finance charges; (q) prescribing information respecting extra charges for the purpose of paragraph 76 (g); (r) respecting the form, contents and manner in which information and records may be disclosed or delivered under this Part and, for a prescribed manner of delivery, prescribing the time on which a record delivered in that manner is considered to be received by the person to whom it was delivered; (s) requiring credit grantors and loan brokers or one or more classes of them to retain one or more records required under this Part for a specified period and prescribing when, how and to whom those records are to be made available for examination, extracts and copying; (t) exempting, generally or in specified circumstances, certain classes of persons from all or a Division of this Part and the regulations; (u) respecting designated expenses; (v) prescribing the application or non application of this Part for the purpose of paragraphs 46 (1)(b) and 46 (3)(b ); (w) respecting the waiver or variation of time periods by agreement or otherwise; and (x) generally, to give effect to the purpose of this Part. (2) Regulations made under this section may be made with retroactive effect. 2009 cC-31.1 s83 PART VII.1 PAYDAY LOANS Back to Top Definitions 83.1 In this Part (a) "advance" has the same meaning as in Part VII; (b) "APR" has the same meaning as in Part VII; (c) "borrower" means an individual who has entered into or who is negotiating to enter into a payday loan agreement for primarily a personal, family or household purpose, where that individual, under that agreement, receives or is to receive a payday loan from a payday lender; (d) "cash card" means a card or other device issued by a payday lender to the borrower of a payday loan instead of advancing cash or transferring money to the order of the borrower that can be used to obtain cash or acquire goods and services, but does not include a credit card; (e) "credit card" has the same meaning as in Part VII; (f) "interest" means charges that accrue over time and are determined by applying a rate to the principal of a payday loan from time to time under the payday loan agreement; (g) "payday lender" means a person who offers, arranges or provides payday loans to or for consumers; and (h) "payday loan" means an advance of money with a principal of $1,500 or less and a term of 62 days or less made in exchange for a post-dated cheque, a pre-authorized debit or a future payment of a similar nature, but not for a guarantee, suretyship, overdraft protection or security on property and not through a margin loan, pawnbrokering , a line of credit or a credit card. 2016 c46 s3 Back to Top Application 83.2 (1) This Part applies (a) to every payday lender who offers, arranges or provides a payday loan to a borrower in the province, whether the payday lender operates from business premises, by telephone or on the internet; and (b) to each payday loan, regardless of the number of payday lenders involved in the payday loan. (2) This Part does not apply to a payday loan made before the coming into force of this Part, except to the extent that it relates to an extension or renewal of a payday loan made or granted after the coming into force of this Part. 2016 c46 s3 Back to Top Limits on total cost of borrowing 83.3 (1) The Lieutenant-Governor in Council may, by regulation, set the amount, or establish a rate, formula or method of determining the amount, respecting the maximum total cost of borrowing that may be charged by a payday lender. (2) The Lieutenant-Governor in Council may, in addition to subsection (1) and by regulation, determine a charge, fee, penalty, rate or commission that may be charged by a payday lender. (3) A payday lender shall not charge, require or accept from the borrower an amount that exceeds a maximum set or determined under subsection (1) or (2). 2016 c46 s3 Back to Top Prohibited practices 83.4 A payday lender shall not engage in a prohibited practice as prescribed by the regulations. 2016 c46 s3 Back to Top Cooling off period 83.5 (1) A borrower under a payday loan agreement may, without a reason, cancel the agreement at a time before the end of (a) the second day after the payday lender gives a copy of the agreement to the borrower, if the payday lender is open for business on that day; or (b) the next day that the payday lender is open for business following the second day described in paragraph (a ), if the payday lender is not open for business on that second day. (2) A borrower who wishes to cancel a payday loan agreement shall (a) give written notice within the time period set out in subsection (1) to the payday lender; and (b) return the full amount received by the borrower to the payday lender. (3) In giving notice of cancellation under subsection (2), a borrower may (a) use the copy of the cancellation notice provided by the payday lender under section 83.6; or (b) provide notice in writing, signed by the borrower, of the borrower's intention to cancel the payday loan agreement. (4) On receiving notice of cancellation from a borrower under this section, the payday lender shall give the borrower a receipt in the form approved by the minister acknowledging receipt of the loan cancellation. (5) A payday lender shall not charge a fee for the cancellation of a payday loan. 2016 c46 s3 Back to Top Agreement and advance 83.6 (1) A payday lender shall ensure that the terms, information and statements contained in its standard loan agreement are written in a clear and comprehensible manner. (2) A payday lender shall ensure that the payday loan agreement includes all of the following terms, information and statements: (a) the payday lender's name and, where different, the name under which the payday lender carries on business; (b) the payday lender's business address and, where different, the payday lender's mailing address; (c) the payday lender's licence number, telephone number and where the payday lender has a fax number or email address, that fax number and email address; (d) the borrower's name; (e) the date of the agreement and the date or dates on which the first advance and other advances shall be made to the borrower or to the order of the borrower; (f) the principal of the payday loan; (g) the term of the payday loan; (h) the amount of cash advanced to the borrower or the amount of money transferred to the borrower or to the order of the borrower; ( i ) the amount of credit available on a cash card issued to the borrower; (j) where a cash card issued to the borrower has an expiry date, the date of that expiration; (k) the total cost of borrowing and the APR for the payday loan; (l) a statement that interest applies only to the principal of the payday loan; (m) the rate of interest that applies to the principal of the payday loan, together with a statement of the total amount of interest that is payable under the loan; (n) each of the other charges that apply, together with a statement of the amount of each of those charges; (o) the date on which each payment is due to the payday lender and the amount of each of those payments; (p) a statement that the payday loan is a " high cost loan"; (q) a statement that the supply of goods or services is separate and optional from the payday loan; (r) a statement of the borrower's rights of cancellation under section 83.5, setting out how those rights can be exercised and identifying the time by which the borrower can exercise them; (s) a statement of the remedies available to the borrower under section 83.10; (t) where a cash card is to be issued to the borrower, a statement identifying that third party service charges may apply for the use of the card; (u) the agreement number of the payday loan; and (v) another term, information or statement that may be prescribed by the regulations. (3) Before the borrower signs the loan agreement, the payday lender shall (a) review with the borrower the matters described in paragraphs (2)(k), (q) and (r); and (b) require that the borrower initial each of those matters in the agreement. (4) A payday lender shall give a borrower a copy of the agreement at the time it is signed and dated by the borrower, together with a copy of the cancellation notice that may be used by the borrower for the purpose of section 83.5. (5) A payday lender shall ensure that the proceeds of the payday loan are delivered to the borrower no later than at the time of entering into the agreement. (6) In the case of a payday loan obtained by means of the internet or by telephone, the payday lender is considered to have complied with subsection (5) where the payday lender delivers instructions to the payday lender's financial services provider to transfer the amount of the advance to the borrower on the same day as the day on which the agreement is entered into by both the borrower and the payday lender. (7) For the purpose of subsection (6), "financial services provider" includes a bank listed in Schedule I, II or III of the Bank Act ( Canada ), a credit union, a trust corporation or loan corporation registered under the Trust and Loan Corporations Act or an organization that provides remote funds transfers, electronic funds transfers or a similar method of transferring money. 2016 c46 s3 Back to Top Receipt for payment 83.7 A payday lender shall give a receipt to a borrower in the form approved by the minister immediately upon receipt of payment. 2016 c46 s3 Back to Top Payout of balance on cash card 83.8 (1) Where the payday lender issues a cash card to the borrower in respect of a payday loan, the borrower is entitled to be paid in cash the amount of credit remaining on the card where (a) the balance of credit remaining on the cash card is less than the amount prescribed by the regulations; or (b) the payday loan has been repaid by the borrower and the cash card has expired. (2) Where the borrower is entitled to be paid a balance under subsection (1) and returns the cash card to the payday lender, the payday lender shall immediately pay the balance on demand by the borrower. (3) On return of a cash card under this section, the payday lender shall immediately give the borrower a receipt for the cash card in the form approved by the minister and the receipt shall specify the amount paid to the borrower. (4) The balance of credit remaining on an expired cash card issued to a delinquent borrower may be applied by the payday lender as payment towards the payday loan, where prescribed by and in accordance with the regulations. (5) In subsection (4), "delinquent borrower" means a borrower who fails to repay a payday loan by the end of the payday loan term under the loan agreement. 2016 c46 s3 Back to Top Prepayment 83.9 A borrower may prepay a full or partial amount before it is due under the payday loan agreement, without incurring a prepayment charge or penalty. 2016 c46 s3 Back to Top Consequence of failure to comply 83.10 (1) Where a payday lender fails to comply with a requirement of section 83.3, 83.4, subsection 83.6(3), 83.6(4), 83.6(5), section 83.7, 83.8 or 83.9 or the regulations made under paragraphs 83.11(a), (b), (f), (g) or ( i ), the borrower is not liable to pay the payday lender an amount that exceeds the principal of the payday loan. (2) The remedies under this section are in addition to another remedy that may be available to the borrower under the common law or under another Part. 2016 c46 s3 Back to Top Regulations 83.11 (1) The Lieutenant-Governor in Council may make regulations for the purpose of this Part (a) prescribing the maximum total cost of borrowing; (b) specifying fees, penalties, rates, commissions or charges allowed to be charged by payday lenders for or in relation to a payday loan; (c) prescribing a term, information or statement to be included in a payday loan agreement and, where applicable, to be initialled by a borrower; (d) respecting payday loan agreements between borrowers and payday lenders that are not entered into in person; (e) regulating or prohibiting the offering, arrangement or provision of payday loans by means described in paragraph (d ); (f) prohibiting certain practices with respect to payday loans or payday lenders; (g) prescribing an amount of credit remaining on a cash card for the purpose of section 83.8; (h) respecting the expiry of cash cards and setting minimum terms; ( i ) prescribing the information to be required for signs, notices, representations and advertisements; (j) defining a word for the purpose of this Part where that word is not defined in this Part; and (k) generally, to give effect to the purpose of this Part. (2) Regulations made under this section may be made with retroactive effect. 2016 c46 s3 PART VII.2 HIGH-COST CREDIT PRODUCTS Definitions 83.12 In this Part (a) "advance" has the same meaning as in Part VII; (b) "APR" has the same meaning as in Part VII; (c) "borrower" means an individual who has entered into or who is negotiating to enter into a high-cost credit agreement for primarily a personal, family or household purpose, where that individual, under that high-cost credit agreement, receives or is to receive a high-cost credit product from a high-cost credit grantor; (d) "cash card" means a card or other device issued by a high-cost credit grantor to the borrower of a high-cost credit product instead of advancing cash or transferring money to the order of the borrower that can be used to obtain cash or acquire goods and services, but does not include a credit card; (e) "credit card" has the same meaning as in Part VII; (f) "fixed credit" has the same meaning as in Part VII; (g) "high-cost credit agreement" means a credit agreement under which credit is extended by way of a high-cost credit product, and includes an agreement to renew, amend or extend a high-cost credit agreement; (h) "high-cost credit grantor" means a person who offers, arranges, provides or facilitates high-cost credit products to or for consumers and includes a loan broker; ( i ) "high-cost credit product" means ( i ) a fixed credit product that has an APR that exceeds the APR prescribed by regulation and meets other criteria prescribed by regulation, (ii) an open credit product that has an annual interest rate that, calculated in accordance with the regulations, exceeds the annual interest rate prescribed by regulation and meets other criteria prescribed by regulation, (iii) a lease that has an APR that exceeds the APR prescribed by regulation and meets other criteria prescribed by regulation, or (iv) a product prescribed by regulation through which credit is extended by a high-cost credit grantor to a borrower primarily for a personal, family or household purpose, but does not include a payday loan or a credit product prescribed by regulation; (j) "interest" means charges that accrue over time and are determined by applying a rate to the principal of a high-cost credit product from time to time under the high-cost credit agreement; (k) "loan broker" has the same meaning as in Part VII; and (l) "open credit" has the same meaning as in Part VII. 2022 c28 s18 Application 83.13 (1) This Part applies (a) to every high-cost credit grantor who offers, arranges or provides a high-cost credit product to a borrower in the province, whether the high-cost credit grantor operates from business premises, by telephone or on the internet; and (b) to each high-cost credit product, regardless of the number of high-cost credit grantors involved in the high-cost credit product. (2) This Part does not apply to a high-cost credit product provided before the coming into force of this Part, except to the extent that it relates to an extension or renewal of a high-cost credit product provided or granted after the coming into force of this Part. (3) The Lieutenant-Governor in Council may by regulation exempt a high-cost credit grantor or class of high-cost credit grantors from some or all of this Part. 2022 c28 s18 Limits on total cost of borrowing 83.14 (1) The Lieutenant-Governor in Council may, by regulation, set the amount, or establish a rate, formula or method of determining the amount, respecting the maximum total cost of borrowing that may be charged by a high-cost credit grantor. (2) The Lieutenant-Governor in Council may, in addition to subsection (1) and by regulation, determine a charge, fee, penalty, rate or commission that may be charged by a high-cost credit grantor. (3) A high-cost credit grantor shall not charge, require or accept from the borrower an amount that exceeds a maximum set or determined under subsection (1) or (2). 2022 c28 s18 Prohibited practices 83.15 (1) A high-cost credit grantor shall not (a) offer or promise to give, directly or indirectly, any prize or reward as an incentive to enter into, or for having entered into, a high-cost credit agreement; (b) state or imply that a high-cost credit product will improve the borrower's credit rating if it will not do so; (c) require, request or accept an assignment of wages from a borrower; (d) collect or attempt to collect a payment before the date that payment is due under the high-cost credit agreement; or (e) engage in a prohibited practice prescribed in the regulations. (2) An assignment of wages is not valid if it is given in consideration of a high-cost credit product or an advance under a high-cost credit product or to secure or facilitate a payment in relation to a high-cost credit product. 2022 c28 s18 Cancellation rights 83.16 (1) A borrower under a high-cost credit agreement may, without a reason, cancel the agreement at a time before the end of (a) the fourth day after the high-cost credit grantor gives a copy of the agreement to the borrower, if the high-cost credit grantor is open for business on that day; or (b) the next day that the high-cost credit grantor is open for business following the fourth day referred to in paragraph (a), if the high-cost credit grantor is not open for business on that fourth day. (2) A borrower may cancel a high-cost credit agreement at any time if the high-cost credit grantor (a) does not advise the borrower of the borrower's cancellation rights under subsection (1 ); (b) fails to satisfy any of the requirements in subsection 83.17(2), paragraph 83.17(4)(a) and subsection 83.17(5); or (c) contravenes a provision of this Act or the regulations that is prescribed in the regulations. (3) A borrower who wishes to cancel a high-cost credit agreement shall (a) give written notice to the high-cost credit grantor; and (b) return the full amount received by the borrower to the high-cost credit grantor. (4) Where a borrower cancels a high-cost credit agreement under subsection (1), written notice referred to in paragraph (3)(a) shall be given within the time period set out in subsection (1). (5) In giving notice of cancellation under subsection (3), a borrower may (a) use the copy of the cancellation notice provided by the high-cost credit grantor under section 83.17; or (b) provide notice in writing, signed by the borrower, of the borrower's intention to cancel the high-cost credit agreement. (6) On receiving notice of cancellation from a borrower under this section, the high-cost credit grantor shall give the borrower a receipt in the form approved by the minister acknowledging receipt of the high-cost credit agreement cancellation. (7) A high-cost credit grantor shall not charge a fee for the cancellation of a high-cost credit agreement. (8) Cancellation of a high-cost credit product under this section extinguishes every liability and obligation under or related to the high-cost credit agreement. 2022 c28 s18 Required terms of agreement 83.17 (1) The terms of a high-cost credit product shall be included in a written high-cost credit agreement that is signed and dated by the borrower. (2) A high-cost credit grantor shall ensure that the high-cost credit agreement includes all of the following terms, information and statements: (a) the high-cost credit grantor's ( i ) name and, where different, the name under which the high-cost credit grantor carries on business, (ii) business address and, where different, the high-cost credit grantor's mailing address, and (iii) licence number, telephone number and where the high-cost credit grantor has a fax number or email address, that fax number and email address; (b) the borrower's name; (c) the date of the agreement and, if known, the date or dates on which the first advance and other advances will be made to the borrower or to the order of the borrower; (d) a statement that the high-cost credit product is a high-cost credit product; (e) a statement of the type of high-cost credit product; (f) the principal amount of the high-cost credit product or the amount of funds available, as applicable; (g) the term of the high-cost credit product and, if applicable, the date on which each payment is due to the high-cost credit grantor and the amount of each of those payments; (h) respecting access to the high-cost credit product ( i ) each method by which the borrower may access funds for each transfer or advance, (ii) if applicable, the date or dates on which the first and any other transfers or advances to the borrower will be made, (iii) if applicable, the amount of any funds transferred or advanced, on each transfer or advance, to the borrower, and (iv) if applicable, the cost of each method of accessing the funds on each transfer or advance; ( i ) if the high-cost credit grantor advances or transfers the funds to the borrower by means of a cash card ( i ) the date and time the cash card is issued to the borrower, (ii) the amount of credit available on the cash card issued to the borrower, (iii) a statement that third party service provider charges may apply for use of the card, and (iv) if applicable, the expiry date of the cash card; (j) the fee, penalty, commission, consideration, charge or other amount subject to interest, the interest rate, how interest is calculated and compounded, how, when and why the interest rate will or may change and a statement of the total amount of interest that is payable on the high-cost credit product and what is included in the calculation of that amount; (k) the annual interest rate, and if applicable, the APR; (l) as applicable, ( i ) the total cost of credit expressed as a dollar amount, or (ii) the total cost of credit expressed as a dollar amount based on the maximum available if the high-cost credit product is repaid within the time period prescribed in the regulations; (m) the fee, penalty, commission, consideration, charge or other amount that will or may be payable by or on behalf of the borrower to the high-cost credit grantor or a third-party service provider; (n) how, how often and why the fee, penalty, commission, consideration, charge or other amount referred to in paragraph (m) will or may be payable and what will or may happen if the borrower fails to pay a fee, penalty, commission, consideration, charge or other amount; (o) how each payment will be applied to the accumulated cost of credit and the principal; (p) the borrower's right to make full or partial prepayment under section 83.20 and how to exercise that right; (q) any security interest that will or may be required from the borrower; (r) any grace period that will or may apply and what conditions, if any, the borrower must meet to benefit from it; (s) what will or may happen if the borrower fails to make a payment when it becomes due, including ( i ) what default charges or penalties will or may be payable by the borrower, (ii) how and when the terms and conditions of the high-cost credit agreement will or may be affected by the missed payment, and (iii) what will or may happen to any collateral or security; (t) how, when and in what circumstances the high-cost credit grantor will or may demand payment in full from the borrower; (u) each good or service that shall also be purchased by the borrower, how to purchase it, why it is required and how much it will cost; (v) t he nature, amount and timing of payments for any optional product purchased by the borrower for which payments are to be made to or through the high-cost credit grantor; (w) the conditions under which the borrower may terminate an optional product referred to in paragraph (v ); (x) how, when and in what circumstances the high-cost credit grantor will or may cancel the high-cost credit agreement; (y) a statement of the borrower's rights of cancellation under section 83.16, including how those rights can be exercised and identifying the date by which the borrower can exercise them; (z) a statement of the remedies available under section 83.22; and (aa) any other term, information or statement that may be prescribed in the regulations. (3) The high-cost credit grantor shall ensure that the terms, information and statements required under subsection (2) are written in a clear and comprehensible manner and meet any other criteria prescribed in the regulations. (4) Before the borrower signs a high-cost credit agreement, the high-cost credit grantor shall (a) review with the borrower the matters prescribed in the regulations; and (b) require that the borrower initial each of those matters in the agreement. (5) The high-cost credit grantor shall give the borrower a copy of the high-cost credit agreement at the time it is signed by the borrower, together with (a) a cancellation notice in the form approved by the director, which may be used by the borrower for the purposes of section 83.16; and (b) any other documents prescribed in the regulations. (6) The borrower may request, orally or in writing, an additional copy of the high-cost credit agreement. (7) The high-cost credit grantor shall provide the requested additional copy to the borrower within one business day of receiving the request under subsection (6). (8) A high-cost credit agreement that does not contain the terms, information and statements prescribed in subsection (2) is not valid. 2022 c28 s18 Receipt for payment 83.18 A high-cost credit grantor shall give a receipt to a borrower in the form approved by the minister immediately upon receipt of payment. 2022 c28 s18 Payout of balance on cash card 83.19 (1) Where the high-cost credit grantor issues a cash card to the borrower in respect of a high-cost credit product, the borrower is entitled to be paid in cash the amount of credit remaining on the card where (a) the balance of credit remaining on the cash card is less than the amount prescribed by the regulations; or (b) the high-cost credit product has been repaid by the borrower and the cash card has expired. (2) W here the borrower is entitled to be paid a balance under subsection (1) and returns the cash card to the high-cost credit grantor, the high-cost credit grantor shall immediately pay the balance on demand by the borrower. (3) On return of a cash card under this section, the high-cost credit grantor shall immediately give the borrower a receipt for the cash card in the form approved by the minister and the receipt shall specify the amount paid to the borrower. (4) The balance of credit remaining on an expired cash card issued to a delinquent borrower may be applied by the high-cost credit grantor as payment towards the high-cost credit product, where prescribed by and in accordance with the regulations. (5) In subsection (4), "delinquent borrower" means a borrower who fails to repay a high-cost credit product by the end of the high-cost credit product term under the high-cost credit agreement. 2022 c28 s18 Prepayment 83.20 A borrower may prepay a full or partial amount before it is due under the high-cost credit agreement, without incurring a prepayment charge or penalty. 2022 c28 s18 Signs and advertisements 83.21 (1) A high-cost credit grantor shall, in accordance with the regulations, (a) post signs containing the information prescribed in the regulations at each of the high-cost credit grantor’s locations; (b) display the information prescribed in the regulations on the high-cost credit grantor’s website where the high-cost credit grantor engages in the high-cost credit business by means of the internet; and (c) disclose the information prescribed in the regulations to a prospective borrower where the high-cost credit grantor engages in the high-cost credit business by telephone. (2) A n advertisement or representation about a high-cost credit product shall include the information prescribed in the regulations. 2022 c28 s18 Consequences of failure to comply 83.22 (1) Where a high-cost credit grantor fails to comply with a requirement of section 83.14, 83.15, subsection 83.17(4) or 83.17(5), section 83.18, 83.19 or 83.20 or the regulations made under paragraphs 83.23(k), (l), (m), (t) or (v), the borrower is not liable to pay the high-cost credit grantor an amount that exceeds the principal of the high-cost credit product. (2) The remedies under this section are in addition to another remedy that may be available to the borrower under the common law or under another Part. 2022 c28 s18 Regulations 83.23 (1) The Lieutenant-Governor in Council may make regulations for the purpose of this Part (a) prescribing the APR for the purposes of subparagraph 83.12( i )( i ); (b) prescribing the criteria for the purposes of subparagraph 83.12( i )( i ); (c) respecting the calculation of an annual interest rate for the purposes of subparagraph 83.12( i )(ii ); (d) prescribing an annual interest rate for the purposes of subparagraph 83.12( i )(ii ); (e) prescribing the criteria for the purposes of subparagraph 83.12( i )(ii ); (f) prescribing the APR for the purposes of subparagraph 83.12( i )(iii ); (g) prescribing the criteria for the purposes of subparagraph 83.12( i )(iii ); (h) prescribing a product for the purposes of subparagraph 83.12( i )(iv ); ( i ) prescribing a credit product for the purposes of paragraph 83.12( i ); (j) exempting a high-cost credit grantor or class of high-cost credit grantors from the application of some or all of this Part; (k) prescribing the maximum total cost of borrowing; (l) s pecifying fees, penalties, rates, commissions or charges allowed to be charged by high-cost credit grantors for or in relation to a high-cost credit product; (m) prohibiting certain practices with respect to high-cost credit products or high-cost credit grantors; (n) prescribing a provision of this Act or the regulations for the purposes of paragraph 83.16(2)(c ); (o) prescribing a time period for the purposes of subparagraph 83.17(2)(l)(ii ); (p) prescribing a term, information or statement to be included in a high-cost credit agreement; (q) prescribing criteria for the purposes of subsection 83.17(3); (r) prescribing matters a high-cost credit grantor is required to review with a borrower and, where applicable, to be initialled by a borrower before the borrower signs a high-cost credit agreement; (s) prescribing documents for the purposes of paragraph 83.17(5)(b ); (t) prescribing an amount of credit remaining on a cash card for the purposes of paragraph 83.19(1)(a ); (u) respecting the balance of credit remaining on an expired cash card issued to a delinquent borrower being applied by a high-cost credit grantor as payment towards the high-cost credit product; (v) prescribing the information to be required for signs, notices, representations and advertisements; (w) defining a word for the purposes of this Part where that word is not defined in this Part; and (x) generally, to give effect to the purpose of this Part. (2) Regulations made under this section may be made with retroactive effect. 2022 c28 s18 PART VIII LICENCES Back to Top Definitions 84. In this Part (a) "credit reporting agency" means credit reporting agency as defined in paragraph 36 (b); (b) "direct seller" means a supplier who solicits consumers to enter into a direct sales contract, enters into a direct sales contract with consumers, or both; (b.1) "high-cost credit grantor" means high-cost credit grantor as defined in section 83.12; (b.2) "high-cost credit business" means the activity of offering, arranging or providing high-cost credit products by a high-cost credit grantor; (c) "payday lender" means payday lender as defined in section 83.1; and (d) "payday loan business" means the activity of offering, arranging or providing payday loans by a payday lender. 2009 cC-31.1 s84 ; 2012 c23 s1 ; 2016 c46 s4 ; 2022 c28 s19 Back to Top Licence required 85. (1) A person shall not carry on business as a direct seller unless the person obtains a licence from the director. (1.1) Notwithstanding subsection (1), a salesperson of a direct seller licensed under subsection (1) is not required to be licensed. (2) A person shall not carry on business as a credit reporting agency unless the person obtains a licence from the director. (2.1) A person shall not carry on business as a payday lender unless the person obtains a licence from the director. (2.2) A person shall not carry on business as a high-cost credit grantor unless the person obtains a licence from the director. (3) An application for a licence shall be in the form required by the minister and the applicant shall pay the fee set by the minister. (4) The director may require further information or material to be submitted within a specified time by an applicant for a licence. (5) The director may require a statement made in support of an application for a licence to be verified by an affidavit. 2009 cC-31.1 s85 ; 2012 c23 s2 ; 2016 c46 s5 ; 2022 c28 s20 Back to Top Denial of licence 86. (1) An applicant for a licence to carry on the business of a direct seller is entitled to be granted the licence unless in the opinion of the director (a) the applicant's record of past conduct is such that it would not be in the public interest to grant it; or (b) the applicant is an undischarged bankrupt. (2) An applicant for a licence to carry on business as a credit reporting agency is entitled to be granted the licence unless, in the opinion of the director, (a) the applicant’s financial responsibility or record of past conduct is such that it would not be in the public interest for the licence to be granted; or (b) where the applicant is a corporation, its financial responsibility or the record of past conduct of the corporation or its officers or directors is such that it would not be in the public interest for the licence to be granted. (3) An applicant for a licence to carry on a payday loan business is entitled to be granted the licence unless, in the opinion of the director, (a) the appplicant’s financial responsibility or record of past conduct is such that it would not be in the public interest for the licence to be granted; (b) the applicant is an undischarged bankrupt; (c) where the applicant is a corporation, its financial responsibility or the record of past conduct of the corporation or its officers or directors is such that it would not be in the public interest for the licence to be granted; or (d) where the applicant is a partnership, its financial responsibility or the record of past conduct of the partnership or its members is such that it would not be in the public interest for the licence to be granted. (4) An applicant for a licence to carry on a high-cost credit business is entitled to be granted the licence unless, in the opinion of the director, (a) the applicant's financial responsibility or record of past conduct is such that it would not be in the public interest for the licence to be granted; (b) the applicant is an undischarged bankrupt; (c) where the applicant is a corporation, its financial responsibility or the record of past conduct of the corporation or its officers or directors is such that it would not be in the public interest for the licence to be granted; or (d) w here the applicant is a partnership, its financial responsibility or the record of past conduct of the partnership or its members is such that it would not be in the public interest for the licence to be granted. 2009 cC-31.1 s86 ; 2012 c23 s3 ; 2016 c46 s6 ; 2022 c28 s21 Back to Top Terms and conditions of a licence 87. (1) A licence issued under section 86 is subject to the terms, conditions and restrictions that may be consented to by the applicant, imposed by the director, or prescribed by the regulations. (2) The director may, by written notice to a licensee, add to, remove or alter the terms, conditions or restrictions to which the licence is subject. (3) A licensee shall comply with the terms, conditions and restrictions to which the licence is subject. 2009 cC-31.1 s87 ; 2022 c28 s22 Back to Top Suspension and cancellation of a licence 88. (1) The director may suspend or cancel the licence of a direct seller, a credit reporting agency, a payday lender or a high-cost credit grantor upon a ground on which the director might have refused to grant the licence under section 86 or where the director is satisfied that the licensee (a) has contravened this Part or the regulations or has failed to comply with the terms, conditions or restrictions to which the licence was subject; (b) has made a material misstatement in the application for a licence or in the information or material submitted to the registrar under subsection 85 (4); (c) has been guilty of misrepresentation, fraud, deceit or dishonesty; (d) is not carrying on business in the province; (e) being a corporation, has been dissolved or has been struck off the register under the Corporations Act ; (f) being a natural person, has died; or (g) has become bankrupt. (2) The registrar shall publish notice of the suspension or cancellation in the Gazette. (3) Where the director suspends or cancels a licence, the holder of it shall immediately return it to the director. (4) The director may reinstate a suspended or cancelled licence where the director considers it appropriate to do so. 2009 cC-31.1 s88 ; 2016 c46 s7 ; 2022 c28 s23 Back to Top Production of licence 89. (1) A direct seller licensed under this Act shall produce its licence for inspection when requested to do so by a person whom it has solicited as a direct seller. (2) A salesperson of a direct seller licensed under this Act shall produce a copy of the direct seller's licence for inspection when requested to do so by a person whom the salesperson has solicited as a direct seller. (3) A credit reporting agency licensed under this Act shall produce its licence for inspection when requested to do so by a person who is the subject of a credit report by a credit reporting agency. (4) A payday lender licensed under this Act shall produce its licence for inspection when requested to do so by a person whom it has solicited as a payday lender or with whom there is an agreement to borrow. (5) A high-cost credit grantor licensed under this Act shall produce its licence for inspection when requested to do so by a person whom it has solicited as a high-cost credit grantor or with whom there is an agreement for a high-cost credit product. 2012 c23 s4 ; 2016 c46 s8 ; 2022 c28 s24 Back to Top Certificate of registrar 90. A certificate signed by the director stating that on a specified day (a) a person was or was not licensed under this Part; (b) a licence was issued to a direct seller, credit reporting agency, payday lender or high-cost credit grantor; or (c) the licence of a direct seller, credit reporting agency, payday lender or high-cost credit grantor was suspended, cancelled or reinstated, is admissible in evidence as, in the absence of evidence to the contrary, proof of the facts stated in the certificate. 2009 cC-31.1 s90 ; 2012 c23 s5 ; 2016 c46 s9 ; 2022 c28 s25 Back to Top Address for service 91. (1) An applicant for a licence shall state in the application an address for service in the province. (2) A notice given under this Part or the regulations shall for all purposes be considered to be sufficiently served if delivered or sent by registered mail to the licensee at the address for service stated in the licensee’s application for a licence, unless the licensee has notified the director in writing of a change of address for service under section 92 , in which case that notice shall be sufficiently served if delivered or sent by registered mail to the licensee at the latest address for service of which the director has been notified. (3) Where a notice referred to in subsection (2) is sent by registered mail, it is considered to be served on the day it is deposited in the post office by the sender of the notice. 2009 cC-31.1 s91 ; 2022 c28 s26 Back to Top Notice of change 92. A licensee shall notify the director in writing of (a) a change in address for service; (b) a change in partners, in the case of a partnership; and (c) a change in directors, in the case of a corporation. 2009 cC-31.1 s92 ; 2022 c28 s27 Back to Top Annual return 93. (1) A person licensed under this Part shall file an annual return with the director. (2) An annual return filed under subsection (1) shall contain the information the director may require. 2009 cC-31.1 s93 Back to Top Registration continues 94. A registration remains in effect subject to the filing of an annual report and payment of an annual fee until it is withdrawn by the registered person or is suspended or cancelled under this Act. 2009 cC-31.1 s94 Back to Top Exception to licensing requirement 95. A person is considered not to be carrying on the business of direct selling and is not required to be licensed under this Act where the person is (a) a person selling newspapers; (b) a person selling dairy or bakery products, firewood or coal, where that person or that person’s employer resides or has a place of business in the province; (c) a person selling motor vehicles, farm implements, feed grain, feed supplements, fertilizer or weed spray, where the person resides or has a place of business in the province; (d) a person selling farm products, fish or meat; (e) a person selling goods or services on behalf of an organization or corporation having objects of a benevolent, religious, charitable, philanthropic, educational, agricultural, scientific, artistic, social, political, professional, fraternal, sororal, sporting, athletic or other useful nature and not formed for gain; (f) a person in respect of business for the carrying on of which the person is required to be licensed under the Securities Act, the Insurance Adjusters, Agents and Brokers Act , the Insurance Companies Act or the Real Estate Trading Act; or (g) a person or one of a class of persons exempted from the application of this Part by the regulations. 2009 cC-31.1 s95 ; 2022 c28 s28 Back to Top Bonds 96. (1) The director shall require an applicant for a licence as a direct seller to deliver to the director within a specified time a bond to the Crown in the form and amount that the director may prescribe. (2) The director may require a salesperson to deliver to the director within a specified time (a) a bond to the Crown in the form and amount that the director may prescribe; or (b) a certificate of a surety company that a surety bond previously filed on behalf of the applicant is in force. (3) A bond given under this Part shall be forfeited and the amount shall be recoverable from the person bound by the bond as a debt due the Crown where , (a) a conviction of an offence under this Act or the regulations or of an offence involving fraud, theft or conspiracy to commit an offence involving fraud or theft under the Criminal Code has been made by a court; (b) a judgment based on a finding of fraud has been given; or (c) a winding-up or receiving order has been made under the Bankruptcy and Insolvency Act ( Canada ) or the Winding-up and Restructuring Act ( Canada ), against the person in respect of whose conduct the bond was conditioned, or, where that person is a partnership, a partner of that partnership, and the conviction, judgment or order has become final. (4) In respect of every act and omission occurring during the term of a licence, every bond shall continue in force for a period of 2 years after the licence to which it relates expires or is cancelled. (5) The minister may, with the prior approval of the Lieutenant-Governor in Council and upon those terms and conditions that the minister may prescribe, assign a bond forfeited under this Part or may pay over money recovered under a bond to (a) a person who may become, in respect of a claim arising out of a direct sales contract, a judgment creditor of the person bonded; (b) the Supreme Court in trust for a person referred to in paragraph (a); or (c) a trustee, custodian, interim receiver, receiver or liquidator of a person referred to in paragraph (a), and every assignment of a bond or payment over of money made by the minister under this section shall be done in accordance with an order of the Lieutenant-Governor in Council relating to that assignment. (6) Where the Crown becomes a creditor of a person under this Part, the debt may be recovered by action or other proceeding in a court as a debt due the Crown. (7) When a bond has been forfeited under subsection (3) by reason of a conviction or judgment referred to in paragraph (3)(a) or (b) and 2 years have elapsed since (a) that conviction or judgment;

or (b) the seller in respect of whom the bond was furnished ceased to carry on business, and the minister has not received notice in writing of a claim against the proceeds of the bond or of a portion of the bond which remains in the possession of the minister, the Lieutenant-Governor in Council may direct the minister to pay to a person who, upon forfeiture of the bond, made payments under the bond, the proceeds, less the amount of expenses that have been incurred in connection with an investigation or otherwise relating to that direct seller. 2009 cC-31.1 s96 ; 2013 c16 s25 ; 2022 c28 s29 PART IX INVESTIGATION AND ENFORCEMENT Back to Top Investigations 97. (1) The director or a person authorized by the director may, where it is reasonably necessary to determine compliance with this Act, enter a place and demand the production of and inspect the business books, documents, correspondence and records that the director or authorized person believes on reasonable grounds are in respect of the person about whom the investigation is being made. (2) Where the director believes on reasonable grounds that a person has contravened this Act or regulations or where the director believes on reasonable grounds that a person, is or is about to contravene this Act, the director or person authorized by the director may with a warrant issued under subsection (3) at a reasonable time enter a place and may investigate, inquire into and examine the affairs in relation to the actions in respect of which the investigation is being made and into books, documents, correspondence and records in relation to it. (3) A Provincial Court judge who is satisfied by information upon oath or affirmation that there are reasonable grounds for believing that there is in a place anything that there are reasonable grounds to believe will give evidence with respect to a contravention of this Act or the regulations may issue a warrant authorizing the director or person authorized by the director named in the warrant to enter and search that place and to make those inquiries and copies of books, documents, correspondence and records that are necessary, subject to the conditions that may be specified in the warrant. (4) The owner or person in charge of the place referred to in this section and a person found there shall give the director or person authorized by the director reasonable help to enable that person to carry out that person’s duties and functions under this section and shall provide the information that that person may reasonably require. 2009 cC-31.1 s97 ; 2022 c28 s30 Back to Top Proof of documents 98. A copy made under section 97 and certified to be a true copy by the person making the investigation is admissible in evidence as proof of the original records. 2009 cC-31.1 s98 Back to Top Freezing orders 99. (1) Where the director has begun an investigation under section 97 and has reasonable grounds to believe that it is advisable for the protection of consumers dealing with a supplier the director may, in writing (a) direct a person who the director believes has or may have on deposit, under the person’s control, or for safekeeping property of the supplier to hold that property in trust for a person appointed as an interim receiver, custodian, receiver or liquidator of the supplier; (b) direct a person who the director believes is indebted to a person being investigated under section 97 to hold money that may be payable in satisfaction of the debt in trust for a person appointed as the interim receiver, custodian, receiver or liquidator of the supplier; and (c) direct a supplier who is being investigated under section 97 to refrain from withdrawing property that the supplier has or may have on deposit with a person until the director makes a written revocation of the direction or consents in writing to the release of a particular item of property, or a judge directs a different disposition of the property. (2) Subsection (1) does not apply where the supplier being investigated under section 97 files with the director a bond in a form and amount that is satisfactory to the director. (3) A supplier or another person in receipt of a direction under subsection (1) may apply to a judge for an order to cancel or vary the direction and the judge may make an order where the judge finds (a) that the direction was not necessary either in whole or in part for the protection of consumers dealing with the supplier; or (b) that the interests of other persons are unduly prejudiced by the direction. 2009 cC-31.1 s99 ; 2022 c28 s31 Back to Top Receiving order 100. The director may apply to a judge for the appointment of an interim receiver, custodian, receiver or liquidator to take possession of and hold property of the supplier who is the subject of a direction under section 99 upon those terms and conditions that the judge may order. 2009 cC-31.1 s100 Back to Top Compliance 101. (1) Where the director has reason to believe that a person is contravening, is about to contravene or has contravened this Act or the regulations, the director may enter into a written undertaking of voluntary compliance with the supplier instead of entering into or continuing an investigation under section 97 or taking or continuing another proceeding under this Act. (2) An undertaking of voluntary compliance may be in a form and contain those terms that the director may determine and may include: (a) an undertaking to comply with this Act and the regulations; (b) an agreement that the supplier will refrain from engaging in certain acts or practices; (c) an agreement to compensate customers who have suffered damage or loss as a result of the acts or practices; (d) an agreement that future consumer transactions engaged in by the supplier will be carried on in accordance with the terms of the agreement; (e) an agreement to provide a bond in a form and amount that may be set out in the agreement; and (f) an agreement on the form and content of records, contracts, advertisements or other documents respecting consumer transactions engaged in by the supplier and the maintenance of trust accounts held by the supplier. (3) An undertaking of voluntary compliance may be varied or terminated by the director upon the request of the supplier. (4) A supplier may apply to a judge after the supplier enters into an undertaking of voluntary compliance for an order (a) terminating an undertaking of voluntary compliance where the judge is satisfied that the person did not contravene the Act or the regulations; and (b) varying the undertaking of voluntary compliance where the judge is satisfied that the variance is in the best interests of consumers. (5) An undertaking of voluntary compliance that is terminated or varied under this section does not invalidate anything done under that undertaking of voluntary compliance before its termination or variance. (6) The director shall maintain a public record of undertakings of voluntary compliances that have been entered into . 2009 cC-31.1 s101 ; 2022 c28 s32 Back to Top Compliance orders 102. (1) After giving a person an opportunity to be heard, the director may order the person to comply with this Act and the regulations if satisfied that the person is contravening, is about to contravene or has contravened this Act or the regulations. (2) A compliance order shall (a) name the person in respect of whom the order is issued, (b) describe the person's act or practice that is contravening, is about to contravene or has contravened this Act or the regulations, (c) identify the section of this Act or the regulations that is being contravened, is about to be contravened or has been contravened, (d) be dated and signed by the director, and (e) inform the recipient that the director may file the compliance order with the Supreme Court and that a filed order is considered to be an order of the Supreme Court. (3) In a compliance order, the director may order a person to stop engaging in or not engage in a specified act or practice and to comply with this Act and the regulations. (4) The director may include one or more of the following orders in a compliance order: (a) that a person reimburse money or return other property or thing received to a consumer or a class of consumers; (b) that a person compensate other persons or a class of persons who have suffered loss or damage as a result of a contravention of this Act or the regulations; (c) that a person take specified action to remedy an act or practice by which the person is contravening, is about to contravene or has contravened this Act or the regulations; and (d) that a person reimburse to the director all or a portion of the actual costs of an inspection, including actual legal costs, incurred by the director for the inspection of that person in respect of the contravention referred to in the compliance order. (5) The director shall serve a copy of the compliance order on the person named in the order. (6) Where a compliance order is made against 2 or more persons, all the persons against whom the order is made are jointly and individually responsible for complying with the order and are jointly and individually liable for the payment of amounts the persons are required to pay under the order. 2009 cC-31.1 s102 ; 2022 c28 s33 Back to Top Director's actions 103. (1) Where the director is of the opinion that a supplier (a) has contravened this Act or the regulations; or (b) has not complied with the terms of an undertaking of voluntary compliance, the director may begin and maintain an action against the supplier in a court. (2) In an action brought under subsection (1) the court may make an order and grant the relief it considers appropriate including relief for the class of consumers affected by the contravention of this Act or the regulations. 2009 cC-31.1 s103 Back to Top Actions on behalf of consumer 104. (1) Upon the written request of a consumer and where the director is of the opinion that it is in the public interest, the director may (a) start and maintain an action on behalf of a consumer; (b) maintain an action that has been started by a consumer, including an appeal of that action; and (c) defend an action on behalf of a consumer where it appears to the director that this Act or the regulations have been contravened. (2) In an action taken under this section, the director shall begin and maintain the action in the name of and on behalf of the consumer and the director has the same right to control the course of the action as the consumer would have had in respect of the action, including the right to settle the action on behalf of the consumer. (3) In an action taken under this section, (a) money paid to the director, excluding costs awarded, shall be paid by the director to the consumer; (b) money awarded against the consumer is recoverable from the consumer and is not recoverable from the director or the province; and (c) the costs of the action as awarded by the court shall be paid to or paid by the director. 2009 cC-31.1 s104 Back to Top Interim injunction 105. (1) Upon the starting of an action under section 103 or 104 the director or consumer may apply to the court for an interim injunction restraining the supplier from continuing an act or practice that is alleged to be in contravention of this Act or the regulations. (2) The court may grant an injunction where it is satisfied that (a) the continuation of the alleged act or practice may detrimentally affect consumers who deal with the supplier; and (b) the applicant has established a presumptive case of a contravention of this Act or the regulations. 2009 cC-31.1 s105 PART X REGULATIONS Back to Top Regulations 106. The minister may make regulations for the purpose of this Act except Part VII (a) exempting classes of persons from the application of this Act or the regulations; (b) governing applications for licences and prescribing terms and conditions of licences; (c) requiring credit reporting agencies or a class of them to be bonded in the form and terms as prescribed, and providing for the forfeiture of bonds and the disposition of the proceeds; (d) respecting the suspension or cancellation of licences; (e) respecting the books, accounts and records to be kept by a person licensed under this Act; (f) requiring a person licensed under this Act to make returns and provide information to the director; (g) requiring the use by a person licensed under this Act of forms approved by the director and prohibiting the use by a licensee of forms not approved by the director; (h) respecting cancellation rights provisions in direct sales contracts; (h.1) respecting gift cards or gift certificates, including imposing restrictions on or prohibiting the expiration of gift cards or gift certificates, and the fees which may be charged for them; ( i ) prohibiting the use of certain kinds of information in consumer reports; and (j) generally, to give effect to the purpose of this Act. 2009 cC-31.1 s106 ; 2010 c33 s1 PART XI APPEALS Back to Top Appeals 107. (1) A person may appeal to a judge of the Supreme Court (a) where the director has refused to issue a licence to the person or to renew the person’s licence; (b) against a term or condition to which the person's licence is made subject; (c) where the person’s licence has been suspended or cancelled, against the suspension or cancellation; and (d) where the person is dissatisfied with a decision, order or direction that the director has made affecting the person. (2) A person appealing under this section shall give notice of the appeal to the director at the time the appeal is filed with the court. (3) An appeal under this section shall be started not later than 30 days after the happening of the event giving rise to the appeal. 2009 cC-31.1 s107 ; 2022 c28 s34 Back to Top Evidence 108. Where, in a prosecution under this Act or the regulations, it is alleged that the accused engaged in an activity when the accused was not registered or licensed or otherwise authorized under this Act or the regulations to do so, evidence of one transaction is, in the absence of evidence to the contrary, proof that the accused engaged in the activity. 2009 cC-31.1 s108 ; 2022 c28 s35 PART XII OFFENCE Back to Top Offences 109. (1) A person who (a) fails to comply with or otherwise contravenes this Act or a regulation made under this Act; (b) fails to comply with an order of the director; (c) fails to comply with an undertaking of voluntary compliance; or (d) provides false or misleading information in an application, form, return, account, record or other document is guilty of an offence and liable on summary conviction to a fine of (e) in the case of a natural person, not more than $10,000 nor less than $500, or in default of or in addition to a fine, to imprisonment for a period not in excess of one year; (f) in the case of a corporation, not more than $100,000 nor less than $5,000. (2) Every day or part of a day that an offence continues constitutes a separate offence. (3) A director or officer of a corporation who knowingly concurs in an offence committed by a corporation under this section is guilty of an offence and liable on summary conviction to a fine of not more than $10,000 nor less than $500 or in default of or in addition to a fine, to imprisonment for a period not in excess of one year. (4) A prosecution under this section may be started within 2 years from the date on which the offence was alleged to have been committed. 2009 cC-31.1 s109 PART XIII CONSEQUENTIAL AMENDMENTS, REPEAL AND COMMENCEMENT Back to Top Transitional 110. (1) Part VII applies to (a) credit agreements for fixed credit and leases that are entered into , renewed or amended on or after the date of coming into force of the Part but does not apply to a fixed term lease whose term is extended unless the lessor and lessee have signed an agreement to extend the term; and (b) credit agreements for open credit that are in existence or that are entered into , renewed or amended on or after the date of coming into force of the Part. (2) The Mortgage Brokers Act applies to credit agreements for fixed credit and leases entered into before the coming into force of this Part. 2009 cC-31.1 s110 ; 2010 c11 s6 Back to Top RSNL1990 cM-18 and CNLR 1006/96 Amdt. 111. (1) Section 8 of the Mortgage Brokers Act is repealed. (2) Section 4 of the Mortgage Brokers Regulations , Consolidated Newfoundland and Labrador Regulation 1006/96, is repealed. 2009 cC-31.1 s111 Back to Top Acts Repealed 112. The following Acts are repealed: (a) Consumer Protection Act ; (b) Consumer Reporting Agencies Act ; (c) Cost of Consumer Credit Disclosure Act ; (d) Direct Sellers Act ; (e) Trade Practices Act ; (f) Unconscionable Transactions Relief Act ; and (g) Unsolicited Goods and Credit Cards Act . 2009 cC-31.1 s112 Back to Top Commencement 113. This Act comes into force on December 1, 2009 . 2009 cC-31.1 s113