Trust and Loan Companies Act

Marginal note:Regulations re borrowing costs

440 The Governor in Council may make regulations

• (a) respecting the time and place at which, and the form and manner in which, a company is to disclose to a borrower

  • (i) the cost of borrowing,

  • (ii) any rebate of the cost of borrowing, and

  • (iii) any other information relating to a loan, arrangement, credit card, payment card or charge card referred to in section 438;

• (b) respecting the contents of any statement disclosing the cost of borrowing and other information required to be disclosed by a company to a borrower;

• (c) respecting the manner of calculating the cost of borrowing;

• (d) respecting the circumstances under which the cost of borrowing is to be expressed as an amount in dollars and cents;

• (e) specifying any class of loans that are not to be subject to section 435.1, subsection 436(1) or 438(1) or (3) or section 438.1 or 439 or the regulations or any specified provisions of the regulations;

• (f) respecting the time and place at which, and the form and manner in which, any rights, obligations, charges or penalties referred to in sections 435.1 to 439 are to be disclosed;

• (g) prohibiting the imposition of any charge or penalty referred to in section 438 or providing that the charge or penalty, if imposed, will not exceed a prescribed amount;

• (h) respecting the nature or amount of any charge or penalty referred to in paragraph 438(1)(b), (2)(a) or (3)(a) and the costs of the company that may be included or excluded in the determination of the charge or penalty;

• (i) respecting the method of calculating the amount of rebate of the cost of borrowing, or the portion of the cost of borrowing referred to in subparagraph 438(1)(a)(ii);

• (j) respecting advertisements made by a company regarding arrangements referred to in subsection 438(3), loans, credit cards, payment cards or charge cards;

• (k) respecting the renewal of loans; and

• (l) respecting such other matters or things as are necessary to carry out the purposes of sections 435.1 to 439.