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C-28.3
- Cost of Credit Disclosure and Payday Loans Act
Detailled Table of Contents
Document at 13 June 2012
Cost of Credit Disclosure Act
I
INTERPRETATION AND APPLICATION
1
Definitions
2
Statement of purpose for entering into credit agreement or lease
3
Application of Parts III to VII
4
Waiver of rights under this Act or the regulations
5
Other remedies not precluded
II
REGISTRATION
6
Mandatory registration
7
Application for registration
8
Effect of withdrawal, suspension or cancellation of registration
9
Terms and conditions on registration
10
Documents to be provided to the Minister
11
Suspension or cancellation of registration
12
Appeals
13
Mandatory cancellation of registration
14
Notice of cancellation of registration
15
Address for service and membership of partnership
III
GENERAL DISCLOSURE REQUIREMENTS ANDRIGHTS OF BORROWERS AND LESSEES
16
Delivery of initial disclosure statement
17
Disclosure in advertisements
18
Form of disclosure statements and statements of account
19
Delivery of documents by credit grantors or lessors
20
Estimates and assumptions
21
Borrower or lessee may choose insurer
22
Borrower or lessee may cancel optional services
23
Prepayment
24
Default charges
25
Invitation to defer payment
IV
CREDIT BROKERS
26
Credit brokers and non-business credit grantors
27
Credit brokers and business credit grantors
V
FIXED CREDIT
28
Application of Part
29
Credit sales
30
Advertising for fixed credit
31
Advertising interest-free periods
32
Initial disclosure statement for fixed credit
33
Disclosure regarding changes in interest rate
34
Disclosure regarding increases in outstanding principal
35
Disclosure regarding amendment
36
Disclosure regarding renewals of credit agreements in relation to mortgage loans
37
Disclosure regarding renewals of credit agreements not in relation to mortgage loans
VI
OPEN CREDIT
38
Application of Part
39
Advertising for open credit
40
Advertising interest-free periods
41
Initial disclosure statement for open credit
42
Statement of account
43
Credit card may only be issued on application
44
Application for credit card
45
Additional disclosure for credit card
46
Liability of credit card holder
VII
LEASE OF GOODS
47
Definitions
48
Advertisement for lease
49
Initial disclosure statement for lease
50
Disclosure regarding amendment
51
Maximum liability under residual obligation lease
VIII
INVESTIGATIONS AND INSPECTIONS
52
Investigations
53
Inspections
IX
OFFENCES AND PENALTIES
54
Offences and penalties
55
Limitation period
56
Prosecution of an offence under section 43
57
Certificate evidence
X
GENERAL AND ADMINISTRATION
58
False advertising
59
Provision of security by credit grantor, lessor or credit broker
60
Assignees
61
Administration of this Act
XI
REGULATIONS
62
Regulations
XII
TRANSITIONAL
63
Registrations under the previous Act
64
Existing credit agreements
65
Existing leases
XIII
CONSEQUENTIAL AMENDMENTS
66
Consumer Product Warranty and Liability Act
67
Direct Sellers Act
XIV
REPEAL
68
Cost of Credit Disclosure Act
XV
COMMENCEMENT
69
Commencement
SCHEDULE A