Order Designating Ontario for the Purposes of the Criminal Interest Rate Provisions of the Criminal Code

SOR/2009-277

CRIMINAL CODE

Registration 2009-10-01

Order Designating Ontario for the Purposes of the Criminal Interest Rate Provisions of the Criminal Code

P.C. 2009-1628 2009-10-01

Whereas Ontario has legislative measures that protect recipients of payday loans and that provide for limits on the total cost of borrowing under a payday loan agreement;

And whereas the Lieutenant Governor in Council of Ontario has requested that the Governor in Council designate that province for the purposes of section 347.1Footnote a of the Criminal CodeFootnote b;

Therefore, Her Excellency the Governor General in Council, on the recommendation of the Minister of Justice and the Minister of Industry, pursuant to subsection 347.1(3)Footnote a of the Criminal CodeFootnote b, hereby makes the annexed Order Designating Ontario for the Purposes of the Criminal Interest Rate Provisions of the Criminal Code.

PROVINCE DESIGNATED

 Ontario is designated for the purposes of section 347.1 of the Criminal Code.

COMING INTO FORCE

Footnote * This Order comes into force at 12:00 a.m., Eastern time or — in that part of Ontario in the Central time zone — Central time, on the first day on which both of the following are in force:

  • (a) the Payday Loans Act, 2008, S.O. 2008, c. 9, except for sections 52 and 66 to 74; and

  • (bOntario Regulation 98/09, except for sections 37 and 38.