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
(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.]
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