Cost of Borrowing (Foreign Insurance Companies) Regulations

13 (1) Subject to subsection (2), if a credit agreement is amended, the foreign company must, not later than 30 days after the day on which the amendment is made, disclose in writing to the borrower any resulting changes to the information that was required to be disclosed in the initial disclosure statement.

(2) If a credit agreement for a fixed amount has a schedule for instalment payments and the schedule is amended, the foreign company must, not later than 30 days after the day on which the amendment is made, disclose in writing to the borrower the amended payment schedule and any increase in the total amount to be paid or in the cost of borrowing as a result of that amendment.