27(1)This section applies where a credit broker arranges a credit agreement involving a credit grantor who enters into the credit agreement in the ordinary course of carrying on a business.

27(2)Where the credit grantor deducts a brokerage fee from the value received or to be received by the borrower in connection with the credit agreement, the credit grantor shall ensure that the initial disclosure statement for the credit agreement, in addition to containing any other information required under this Act to be disclosed in an initial disclosure statement for the credit agreement,

27(3)Where the credit broker takes a loan application from the borrower and forwards it to the credit grantor, the credit broker shall deliver to the borrower a disclosure statement for the credit agreement containing

27(4)Section 16 applies with the necessary modifications to a disclosure statement under subsection (3).

27(5)Notwithstanding subsection (4), the references to “credit grantor” in paragraphs 16(3)(a) and (b) shall continue to be read as “credit grantor”.

27(6)For the purposes of subsection (4), the reference to “credit grantor” in subsection 1(1) in the definition “business day” shall be read as “credit broker”.

27(7)Where the credit broker is required to deliver a disclosure statement under subsection (3), the credit grantor may adopt the disclosure statement as its initial disclosure statement.

27(8)Subject to subsection (9), section 16 does not apply to a credit grantor who adopts a disclosure statement as its initial disclosure statement under subsection (7).

27(9)A credit grantor who adopts a disclosure statement as its initial disclosure statement under subsection (7) shall ensure that the disclosure statement contains the information required under this Act to be disclosed in an initial disclosure statement for the credit agreement.

27(1)This section applies where a credit broker arranges a credit agreement involving a credit grantor who enters into the credit agreement in the ordinary course of carrying on a business.

27(2)Where the credit grantor deducts a brokerage fee from the value received or to be received by the borrower in connection with the credit agreement, the credit grantor shall ensure that the initial disclosure statement for the credit agreement, in addition to containing any other information required under this Act to be disclosed in an initial disclosure statement for the credit agreement,

27(3)Where the credit broker takes a loan application from the borrower and forwards it to the credit grantor, the credit broker shall deliver to the borrower a disclosure statement for the credit agreement containing

27(4)Section 16 applies with the necessary modifications to a disclosure statement under subsection (3).

27(5)Notwithstanding subsection (4), the references to “credit grantor” in paragraphs 16(3)(a) and (b) shall continue to be read as “credit grantor”.

27(6)For the purposes of subsection (4), the reference to “credit grantor” in subsection 1(1) in the definition “business day” shall be read as “credit broker”.

27(7)Where the credit broker is required to deliver a disclosure statement under subsection (3), the credit grantor may adopt the disclosure statement as its initial disclosure statement.

27(8)Subject to subsection (9), section 16 does not apply to a credit grantor who adopts a disclosure statement as its initial disclosure statement under subsection (7).

27(9)A credit grantor who adopts a disclosure statement as its initial disclosure statement under subsection (7) shall ensure that the disclosure statement contains the information required under this Act to be disclosed in an initial disclosure statement for the credit agreement.

27(1)This section applies where a credit broker arranges a credit agreement involving a credit grantor who enters into the credit agreement in the ordinary course of carrying on a business.

27(2)Where the credit grantor deducts a brokerage fee from the value received or to be received by the borrower in connection with the credit agreement, the credit grantor shall ensure that the initial disclosure statement for the credit agreement, in addition to containing any other information required under this Act to be disclosed in an initial disclosure statement for the credit agreement,

27(3)Where the credit broker takes a loan application from the borrower and forwards it to the credit grantor, the credit broker shall deliver to the borrower a disclosure statement for the credit agreement containing

27(4)Section 16 applies with the necessary modifications to a disclosure statement under subsection (3).

27(5)Notwithstanding subsection (4), the references to “credit grantor” in paragraphs 16(3)(a) and (b) shall continue to be read as “credit grantor”.

27(6)For the purposes of subsection (4), the reference to “credit grantor” in subsection 1(1) in the definition “business day” shall be read as “credit broker”.

27(7)Where the credit broker is required to deliver a disclosure statement under subsection (3), the credit grantor may adopt the disclosure statement as its initial disclosure statement.

27(8)Subject to subsection (9), section 16 does not apply to a credit grantor who adopts a disclosure statement as its initial disclosure statement under subsection (7).

27(9)A credit grantor who adopts a disclosure statement as its initial disclosure statement under subsection (7) shall ensure that the disclosure statement contains the information required under this Act to be disclosed in an initial disclosure statement for the credit agreement.