1(1)The following definitions apply in this Act.
“borrower” includes a prospective borrower.(emprunteur)
“Commission” means the Financial and Consumer Services Commission continued under the Financial and Consumer Services Commission Act.(Commission)
“Court of Queen’s Bench” means The Court of Queen’s Bench of New Brunswick. (Cour du Banc de la Reine)
“Director” means the Director of Mortgage Brokers appointed under the Financial and Consumer Services Commission Act and includes any person designated by the Commission or the Director to act on the Director’s behalf.(directeur)
“endorsement” means an endorsement on a mortgage brokerage licence that grants the licence holder the right to receive and hold trust money and that is not suspended or cancelled.(inscription)
“investigator” means a person appointed as an investigator under section 63. (enquêteur)
“investment in a mortgage” means the acquisition of an interest in a mortgage by an investor and includes the lending of money on the security of a mortgage.(placement hypothécaire)
“investor” means a person that makes an investment in a mortgage.(investisseur)
“licence” means a licence granted under this Act that is not suspended or cancelled.(permis)
“Minister” means the Minister of Justice and includes any person designated by the Minister to act on the Minister’s behalf.(ministre)
“mortgage” means any charge on real property or on an interest in real property for the purpose of securing the repayment of money or other consideration, and includes a mortgage of a mortgage. (hypothèque)
“mortgage administrator” means a person that carries on the business of administering mortgages.(administrateur d’hypothèques)
“mortgage associate” means an individual who brokers mortgages on behalf of a mortgage brokerage as an employee or otherwise.(associé en hypothèques)
“mortgage broker” means an individual who
(courtier en hypothèques)
(a)
brokers mortgages on behalf of a mortgage brokerage as an employee or otherwise, and
(b)
meets the criteria prescribed by regulation to act as a supervisor for a mortgage associate.
“mortgage brokerage” means a person that carries on the business of brokering mortgages.(maison de courtage d’hypothèques)
“principal administrator” means an individual designated as a principal administrator by a mortgage administrator under section 31.(administrateur principal)
“principal broker” means an individual designated as a principal broker by a mortgage brokerage under section 23.(courtier principal)
“private investor” means a private investor as defined in the regulations.(investisseur privé)
“regulation” means a regulation made under this Act and, unless the context otherwise indicates, includes a rule.(règlement)
“regulatory authority” means a person empowered by the laws of a jurisdiction to regulate the brokering or administering of mortgages.(organisme de réglementation)
“required fee” means a fee prescribed by a rule made under paragraph 59(1)(
a) of the
Financial and Consumer Services Commission Act that
(droits exigibles)
(a)
is payable for services provided by the Commission or an employee of the Commission under this Act or the regulations, or
(b)
is payable in connection with the administration of this Act or the regulations.
“rule” means a rule made under section 89, or if the context requires, a rule made under the Financial and Consumer Services Commission Act.(règle)
“Tribunal” means the Financial and Consumer Services Tribunal established under the Financial and Consumer Services Commission Act.(Tribunal)
“trust money” means any money received by a mortgage brokerage or a mortgage administrator, but does not include money that is clearly made as payment to the mortgage brokerage or mortgage administrator for fees or other remuneration earned by the mortgage brokerage or mortgage administrator, as the case may be.(somme en fiducie)
“trust property” means
(bien fiduciaire)
(b)
a mortgage held in trust.