Order Designating New Brunswick for the Purposes of the Criminal Interest Rate Provisions of the Criminal Code

SOR/2017-40

CRIMINAL CODE

Registration 2017-03-24

Order Designating New Brunswick for the Purposes of the Criminal Interest Rate Provisions of the Criminal Code

P.C. 2017-251 2017-03-24

Whereas New Brunswick 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 New Brunswick has requested that the Governor in Council designate that province for the purposes of section 347.1Footnote a of the Criminal CodeFootnote b;

Therefore, His 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, makes the annexed Order Designating New Brunswick for the Purposes of the Criminal Interest Rate Provisions of the Criminal Code.

Province Designated

The following provision is not in force.

 New Brunswick 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. Atlantic time on the first day on which the following are both in force:

  • (a) An Act Respecting Payday Loans, S.N.B. 2008, c. 3; and

  • (b) Payday Lending Regulation – Cost of Credit Disclosure and Payday Loans Act.

 
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