Government of Canada / Gouvernement du Canada
Symbol of the Government of Canada

Search

Cost of Borrowing (Canadian Insurance Companies) Regulations

Version of section 13 from 2006-03-22 to 2009-12-31:

  •  (1) Subject to subsection (2), if a credit agreement is amended by a subsequent agreement, the company must, in writing and at most 30 days after entering into the subsequent agreement, disclose to the borrower the changes to the information required to be disclosed in the initial statement.

  • (2) If a credit agreement for a fixed amount has a schedule for instalment payments and the schedule is amended by a subsequent agreement, the company must, in writing and at most 30 days after entering into the subsequent agreement, disclose to the borrower the new payment schedule and any increase in the total amount to be paid or the cost of borrowing.


Date modified: