Non-application of Part
2008, c.3, s.1
37.11(1)This Part does not apply in respect of a payday loan that was made before the commencement of this subsection.
37.11(2)Notwithstanding subsection (1), subsection 37.34(1) and the remedies and penalties available under section 37.34, section 51.6 and any other provision of this Act for contravention of subsection 37.34(1) apply in respect of
(a)
an extension or renewal granted after the commencement of this subsection of a payday loan that was made before or after the commencement of this subsection, or
(b)
an advancement of a new payday loan after the commencement of this subsection to pay out a payday loan that was made before or after the commencement of this subsection.
37.11(3)This Part does not apply in respect of financial products or services regulated under the
Loan and Trust Companies Act, the
Insurance Act, the
Credit Unions Act and any other Act prescribed by regulation.
37.11(4)A transaction or class of transactions or a person or class of persons may by regulation be exempted from the application of this Part or the regulations relating to this Part or any provision of this Part or the regulations relating to this Part.
2008, c.3, s.1; 2014, c.31, s.1; 2016, c.40, s.2