48(1)A lessor shall ensure that an advertisement that is published by or on behalf of the lessor and that gives specific information about the cost of a lease contains the following information respecting the lease:
(a)
that the transaction is a lease;
(b)
the term;
(c)
the nature and amount of any payments that are payable by a lessee at or before the beginning of the term;
(d)
the amount, timing and number of the periodic payments;
(e)
the nature and amount of any other payments that are payable by a lessee in the ordinary course of events;
(f)
the APR; and
(g)
the limitations, if any, imposed in accordance with the regulations regarding extra charges that may be charged based on usage of the leased goods.
48(2)Notwithstanding subsection (1), a lessor shall ensure than an advertisement on radio, television, a billboard or another medium with similar time or space limitations that gives any specific information about the cost of a lease
(a)
contains the information referred to in paragraphs (1)(a) to (d) and (f), or
(b)
contains the information referred to in paragraphs (1)(a), (c) and (d) and states
(i)
a telephone number at which the information referred to in paragraphs (1)(b) and (f) is available during the lessor’s normal business hours and may be obtained without incurring any charges for the call, or
(ii)
a reference to a written publication having general circulation in the area and containing the information referred to in paragraphs (1)(b) and (f).
48(3)Where any of the information required to be disclosed under subsection (1) would not be the same for all leases to which the advertisement relates, the lessor shall ensure that the information is for a representative transaction and is identified as being for a representative transaction.
48(4)For the purposes of subsection (3), a transaction is a representative transaction if its terms are typical of the terms of the leases to which the advertisement relates.
48(1)A lessor shall ensure that an advertisement that is published by or on behalf of the lessor and that gives specific information about the cost of a lease contains the following information respecting the lease:
(a)
that the transaction is a lease;
(b)
the term;
(c)
the nature and amount of any payments that are payable by a lessee at or before the beginning of the term;
(d)
the amount, timing and number of the periodic payments;
(e)
the nature and amount of any other payments that are payable by a lessee in the ordinary course of events;
(f)
the APR; and
(g)
the limitations, if any, imposed in accordance with the regulations regarding extra charges that may be charged based on usage of the leased goods.
48(2)Notwithstanding subsection (1), a lessor shall ensure than an advertisement on radio, television, a billboard or another medium with similar time or space limitations that gives any specific information about the cost of a lease
(a)
contains the information referred to in paragraphs (1)(a) to (d) and (f), or
(b)
contains the information referred to in paragraphs (1)(a), (c) and (d) and states
(i)
a telephone number at which the information referred to in paragraphs (1)(b) and (f) is available during the lessor’s normal business hours and may be obtained without incurring any charges for the call, or
(ii)
a reference to a written publication having general circulation in the area and containing the information referred to in paragraphs (1)(b) and (f).
48(3)Where any of the information required to be disclosed under subsection (1) would not be the same for all leases to which the advertisement relates, the lessor shall ensure that the information is for a representative transaction and is identified as being for a representative transaction.
48(4)For the purposes of subsection (3), a transaction is a representative transaction if its terms are typical of the terms of the leases to which the advertisement relates.