Acts and Regulations

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

Section 51.1
Disposition versions

Full text
Record-keeping
2016, c.40, s.1
51.1(1)The following definition applies in this section.
“regulatory authority” means a person empowered by the laws of a jurisdiction to regulate the activities of a credit grantor, lessor or credit broker.
51.1(2)A credit grantor, lessor or credit broker shall keep books, records and documents that are necessary for the proper recording of its business and affairs and shall keep any other books, records and documents that are otherwise required under this Act or the regulations.
51.1(3)A credit grantor, lessor or credit broker shall keep the books, records and documents at a safe location and in a durable form.
51.1(4)A credit grantor, lessor or credit broker shall retain the books, records and documents for a minimum period of seven years after the date of the transaction to which the books, records or documents relate.
51.1(5)A credit grantor, lessor or credit broker shall deliver to the Director, or to any other employee of the Commission, at any time that the Director or other employee requires
(a) any of the books, records and documents that are required to be kept by the credit grantor, lessor or credit broker under this Act or the regulations, and
(b) any filings, reports or other communications made to any other regulatory authority.
2016, c.40, s.1