Government of Canada / Gouvernement du Canada
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Bank Act

Version of section 450 from 2003-01-01 to 2012-05-23:

Marginal note:Disclosing borrowing costs

  •  (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.

  • Marginal note:Non-application

    (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
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