Bank Act (S.C. 1991, c. 46)
Act current to 2012-01-24 and last amended on 2011-11-01. Previous Versions
450. (1) A bank shall not make a loan to a natural person that is repayable in Canada unless the cost of borrowing, as calculated and expressed in accordance with section 451, and other prescribed information have, in the prescribed manner and at the prescribed time, been disclosed by the bank to the borrower.
(2) Subsection (1) does not apply in respect of a loan that is of a prescribed class of loans.
- 1991, c. 46, s. 450;
- 1997, c. 15, s. 49.