Section 4 (2) (b) BEFORE amended by BC Reg 126/2018, effective September 1, 2018.
(b) aggregate data from the last completed fiscal year of the applicant, in a form and containing the information required by the director.
Section 4 (2) (c) was added by BC Reg 289/2021, effective May 1, 2022.
Section 4 (4) and (5) were added by BC Reg 289/2021, effective May 1, 2022.
Section 13 (4) (a) BEFORE amended by BC Reg 231/2016, effective January 1, 2017.
"Maximum charges permitted in British Columbia for a payday loan: 23% of the principal";
Section 13 (4) (a) BEFORE amended by BC Reg 126/2018, effective September 1, 2018.
"Maximum charges permitted in British Columbia for a payday loan: 17% of the principal";
Section 14 BEFORE re-enacted by BC Reg 289/2021, effective May 1, 2022.
Notice in loan agreement
14 A payday loan agreement must include a statement that reads as follows:
"Payday loans are regulated under the Business Practices and Consumer Protection Act. For information on the requirements relating to payday loans, please contact the Business Practices and Consumer Protection Authority."
Section 17 (1) BEFORE amended by BC Reg 231/2016, effective January 1, 2017.
(1) The maximum amount that may be charged, required or accepted by a payday lender for a loan is 23% of the principal.
Section 17 (1) BEFORE amended by BC Reg 126/2018, effective September 1, 2018.
(1) The maximum amount that may be charged, required or accepted by a payday lender for a loan is 17% of the principal.
Section 20.1 BEFORE repealed by BC Reg 289/2021, effective November 23, 2021.
Prohibited practices — personal information
20.1 (1) In this section, "personal information" has the same meaning as in section 1 of the Personal Information Protection Act.
(2) A payday lender must not require, request or accept consent from a borrower of a payday loan to use or disclose the borrower's personal information for a purpose other than offering, arranging or providing a payday loan under the Act.
[en. B.C. Reg. 126/2018, s. 5.]
Section 21 (1) BEFORE amended by BC Reg 76/2022, effective March 30, 2022.
(1) A payday lender must not require that a payday loan be due before the first day on which the borrower will receive his or her pay or other income following the date of the loan.
Section 23 (1) (a) and (b) BEFORE amended by BC Reg 76/2022, effective March 30, 2022.
(a) the period from the date on which the payday loan is entered into until the day on which the borrower next receives his or her pay or other income, or
(b) a period during the term of a payday loan from the day on which a borrower receives his or her pay or other income until the day on which the borrower next receives his or her pay or other income.