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Insurance Companies Act

Version of section 599 from 2003-01-01 to 2012-05-23:

Marginal note:Disclosing borrowing costs

  •  (1) A foreign company shall not include in its assets in Canada any loan to a natural person that is repayable in Canada unless the cost of borrowing, as calculated and expressed in accordance with section 600, and other prescribed information have, in the prescribed manner and at the prescribed time, been disclosed by the foreign company 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. 47, s. 599
  • 1997, c. 15, s. 307

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