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.
Coming into Force
*2 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
(b) Ontario Regulation 98/09, except for sections 37 and 38.
Return to footnote *[Note: Order in force December 15, 2009.]
- Date modified: