“investigator” means an investigator appointed under subsection 48 (1); (“enqueteur”)
“lender” means a installment loans online firm, partnership, single proprietor, relationship or other entity or person who makes a quick payday loan to a debtor or that holds yourself away as open to make such that loan; (“preteur”)
“licence” means a licence granted under this Act; (“permis”)
“licensee” means someone who holds a licence released under this Act; (“titulaire”, “titulaire de permis”)
“loan broker” means a company, partnership, single proprietor, association or other entity or specific that assists a debtor in acquiring a quick payday loan or that holds yourself out as accessible to offer such support; (“courtier en” that is prets
“Minister” means the Minister of national and Consumer Services or whatever other person in the Executive Council to who management because of this Act is assigned beneath the Executive Council Act; (“ministre”)
“Ministry” means the ministry associated with the Minister; (“ministere”)
(a) with regards to a firm, the seat and any vice-chair for the board of directors, the president and any vice-president, the assistant and associate secretary, the treasurer and treasurer that is assistant the overall supervisor and associate general supervisor of this organization,
(b) pertaining to a partnership, someone or manager that is general associate general supervisor associated with the partnership, and
(c) with regards to an organization or partnership, some other specific designated as an officer by by-law or quality or just about any other person who executes functions generally done by a person occupying such workplace; (“dirigeant”)
“payday loan” means a development of income in return for a post-dated cheque, a pre-authorized debit or the next re payment of the same nature although not for almost any guarantee, suretyship, overdraft security or protection on home and never via a margin loan, pawnbroking, a credit line or credit cards; (“pret sur salaire”)
“payday loan agreement” means an agreement under which a loan provider makes a quick payday loan to a debtor; (“convention de pret sur salaire”)
“prescribed” means prescribed by the laws; (“prescrit”)
“regulations” means the laws made under this Act; (“reglements”)
“Tribunal” means the Licence Appeal Tribunal established beneath the Licence Appeal Tribunal Act, 1999 or whatever other tribunal is recommended. (“Tribunal”) 2008, c. 9, s. 1 (1).
Associated individuals and entities
(2) For purposes of the Act, anyone or entity is related to someone else or entity in just about any for the following circumstances:
1. One individual or entity is really an organization of that your other individual or entity can be an officer or manager.
2. One person or entity is just a partnership of that your other individual or entity is a partner.
3. Both people or entities are lovers of this partnership that is same.
4. One entity or person is really a firm that is managed straight or indirectly by one other individual or entity.
5. Both individuals or entities are corporations plus one business is managed straight or indirectly by the person that is same entity whom controls straight or indirectly one other business.
6. Both individuals or entities are people in the voting that is same concerning stocks of the company.
7. Both people or entities are connected in the meaning of paragraphs 1 to 6 using the person that is same entity. 2008, c. 9, s. 1 (2).
Application of Act
2 (1) at the mercy of the laws, this Act is applicable in respect of all of the loans that are payday the debtor, loan provider or loan broker is situated in Ontario if the loan is created or even to be manufactured. 2008, c. 9, s. 2 (1).
(2) aside from area 32, this Act is applicable with necessary customizations to those loans, apart from payday advances, which are recommended plus in that instance the recommendations to payday advances in this Act will probably be read as recommendations to those other loans. 2008, c. 9, s. 2 (2).
3 This Act will not connect with the people, entities or payday advances or classes of people, entities or payday advances being recommended. 2008, c. 9, s. 3.
4 In determining whether this Act pertains to an individual, entity, contract or deal, a court or any other tribunal shall think about the genuine substance of the individual, entity, contract or transaction plus in therefore doing may dismiss the outward kind. 2008, c. 9, s. 4.
5 (1) The Deputy Minister shall appoint someone as Registrar for the purposes of the Act. 2008, c. 9, s. 5 (1).
Powers and duties
(2) The Registrar may exercise the capabilities and shall perform the duties conferred regarding the Registrar under this Act. 2008, c. 9, s. 5 (2); 2009, c. 33, Sched. 10, s. 12.
Area Amendments with date in effect (d/m/y)
ROLE II Licences
Dependence on licence
6 (1) No individual or entity shall behave as a loan provider unless the individual or entity,
(a) is licensed as a loan provider and, at the mercy of part 17, has gotten notice written down through the Registrar associated with the licence; or
(b) is viewed as become certified under area 18. 2008, c. 9, s. 6 (1).
Exact exact exact Same, loan broker