Acts and Regulations

C-28.3 - Cost of Credit Disclosure and Payday Loans Act

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Disclosure regarding amendment
50(1)If a lease is amended, the lessor shall, within 30 days after the amendment is made, deliver to the lessee a supplementary disclosure statement that meets the requirements of subsection (2).
50(2)A supplementary disclosure statement referred to in subsection (1) shall set out the information that, as a result of the amendment to the lease, is changed from the initial disclosure statement but need not repeat any information that is unchanged from the initial disclosure statement.
50(3)Where an amendment consists only of a revision to the schedule of payments, a supplementary disclosure statement referred to in subsection (1) need not state any change in the APR or any decrease in the implicit finance charge or the total lease cost.