Credit Business Practices (Trust and Loan Companies, Retail Associations, Canadian Insurance Companies and Foreign Insurance Companies) Regulations

1 The following definitions apply in these Regulations.

borrower

borrower means a person who holds a credit card or has applied to an institution to become a holder of a credit card. (emprunteur)

credit agreement

credit agreement includes an agreement for a line of credit, a credit card or any kind of loan. (convention de crédit)

credit card

credit card means a credit card issued to a natural person other than for business purposes. (carte de crédit)

debtor

debtor means a natural person who has entered into a credit agreement with an institution other than for business purposes and who owes a debt to that institution. (débiteur)

institution

institution means any of the following:

• (a) [Repealed, SOR/2021-181, s. 106]

• (b) [Repealed, SOR/2021-181, s. 106]

• (c) a retail association, as defined in section 2 of the Cooperative Credit Associations Act;

• (d) a company, as defined in subsection 2(1) of the Insurance Companies Act;

• (e) a foreign company, as defined in subsection 2(1) of the Insurance Companies Act;

• (f) a company, as defined in section 2 of the Trust and Loan Companies Act. (institution)