General power to make regulations

194   (1) The Lieutenant Governor in Council may make regulations referred to in section 41 of the Interpretation Act.

(2) The authority to make regulations under another provision of this Act does not limit subsection (1).

(3) The Lieutenant Governor in Council may make regulations as follows:

(a) defining a word or expression used but not defined in this Act;

(b) prescribing classes of unmarried persons as spouses;

(c) exempting a person from the application of all or part of this Act or the regulations or establishing circumstances when all or part of this Act or the regulations do not apply;

(d) prescribing information or records that must be submitted to the director;

(e) respecting records, goods or things that are retained during an inspection and the detention or disposal of those records, goods or things;

(f) respecting the disclosure of information and handling of money related to consignment sales of goods by suppliers;

(g) respecting any other matter for which regulations are contemplated by this Act.

Preneed cemetery or funeral services, funeral and interment right contracts

195   The Lieutenant Governor in Council may make regulations as follows:

(a) respecting the administration of a preneed trust account, as defined in section 29, including, without limitation, respecting

(i) financial controls,

(ii) audit requirements,

(iii) required and restricted disclosure, and

(iv) investment powers;

(b) prescribing information required to be contained in the annual report referred to in section 40 [money received under contract to be held in trust];

(c) prescribing the maximum fees an operator may charge for recording the sale or transfer of a right of interment by an interment right holder.

Disclosure of the cost of consumer credit

196   (1) In this section, "credit grantor", "lease", "lessor" and "loan broker" have the same meaning as in section 57 [definitions].

(2) The Lieutenant Governor in Council may make regulations as follows:

(a) prescribing, in relation to circumstances in which there is more than one credit grantor or more than one loan broker, which member of that class constitutes the credit grantor or the loan broker, as the case may be, for the purposes of Part 5 or of one or more specified provisions of that Part;

(b) respecting the manner in which the following are to be calculated:

(i) the penalty payable for the early termination of a lease;

(ii) any other matter that, under Part 5, is to be determined by a calculation if Part 5 does not specify the manner of that calculation;

(c) respecting the form and manner in which information required to be disclosed under Part 5, including information that is required under that Part to be disclosed in an advertisement, must be disclosed;

(d) requiring credit grantors, lessors or loan brokers to retain one or more records required under Part 5 for a specified period and prescribing when, how and to whom those records must be made available for examination, extracts and copying.

Credit reporting

197   (1) In this section, "reporting agency" has the same meaning as in section 106.

(2) The Lieutenant Governor in Council may make regulations as follows:

(a) prescribing the records to be kept by reporting agencies;

(b) prescribing information that a reporting agency must not keep in its files.

Payday loans

197.1   (1) The Lieutenant Governor in Council may make regulations as follows:

(a) specifying fees, penalties, rates, commissions or charges allowed to be charged by payday lenders under Part 6.1 for or in relation to

(i) a payday loan, or

(ii) any goods or services supplied by the payday lender to a borrower or consumer;

(b) respecting the minimum payday loan term;

(c) prescribing the maximum number of days over which interest may accrue under a payday loan;

(d) prescribing a cancellation period for the purposes of section 112.05 (1) [payday loan cancellation rights];

(e) prescribing a provision of this Act or the regulations for the purposes of section 112.05 (3) (c) [payday loan cancellation rights];

(f) respecting how a borrower may give a cancellation notice for the purposes of section 112.05 (4) (a) [payday loan cancellation rights];

(g) respecting when a cancellation notice given in accordance with regulations under paragraph (f) is to be considered received by the payday lender;

(h) prescribing the manner of repayment for the purposes of section 112.05 (4) (b) [payday loan cancellation rights];

(i) prescribing any term, information or statement that must be included in a loan agreement;

(j) respecting loan agreements between borrowers and payday lenders that are not entered into in person;

(k) regulating or prohibiting the offering, arrangement or provision of payday loans by means described in paragraph (j);

(l) prescribing the maximum portion of a borrower's net pay or income for the purposes of section 112.08 (1) (c) and (d) [other prohibited payday lender practices];

(m) prohibiting certain practices with respect to payday loans or payday lenders under Part 6.1;

(n) prescribing an amount of credit remaining on a cash card for the purposes of section 112.09 (1) (a) [payout of balances on cash cards];

(o) respecting the expiry of cash cards and setting minimum terms;

(p) respecting the application of outstanding credit on a cash card as payment towards a payday loan under section 112.09 (4) [payout of balances on cash cards];

(q) providing that one or more provisions of Part 6.1 apply to savings institutions that offer, arrange or provide payday loans to or for consumers;

(r) respecting any other matter that the Lieutenant Governor in Council considers necessary or advisable for the administration of Part 6.1.

(2) The definitions in Part 6.1 apply for the purposes of this section.

High-cost credit products

197.2   The Lieutenant Governor in Council may make regulations as follows:

(a) for the purposes of the definition of "high-cost credit grantor", including by excluding credit providers, credit products, credit agreements and persons, or classes of credit providers, credit products, credit agreements and persons, from the application of Part 6.3;

(b) prescribing products, rates and criteria for the purposes of the definition of "high-cost credit product";

(c) regulating or prohibiting the offering, arrangement or provision of high-cost credit agreements between borrowers and high-cost credit grantors that are not entered into in person;

(d) respecting circumstances in which a high-cost credit grantor may not charge, require or accept interest or other charges in respect of a high-cost credit product;

(e) prescribing

(i) a cancellation period for the purposes of section 112.20 [high-cost credit product cancellation rights],

(ii) a provision of this Act or the regulations for the purposes of section 112.20,

(iii) how a borrower may give a cancellation notice for the purposes of section 112.20,

(iv) when a cancellation notice given in accordance with regulations under subparagraph (iii) of this paragraph is to be considered received by the high-cost credit grantor, or

(v) the manner of repayment for the purposes of section 112.20;

(f) prescribing any terms, information or statements that must be included in a high-cost credit agreement;

(g) prohibiting certain practices with respect to high-cost credit products under Part 6.3;

(h) prescribing information that must be included in a payment receipt under Part 6.3;

(i) specifying the rates, fees, penalties, commissions, consideration, charges or other amounts allowed to be charged by high-cost credit grantors under Part 6.3 for or in relation to

(i) a high-cost credit product, or

(ii) any goods or services supplied by the high-cost credit grantor to the borrower;

(j) prescribing an amount of credit remaining on a cash card for the purposes of section 112.30 (1) [payout of balances on cash cards];

(k) prescribing prohibited fees under section 112.18 (f) [certain fees, penalties and charges prohibited] for preparing documents in relation to high-cost credit agreements;

(l) respecting the expiry of cash cards and setting minimum terms;

(m) prescribing a time period for the purposes of section 112.21 (2) (m) [high-cost credit agreements: required terms];

(n) prescribing matters that must be reviewed for the purposes of section 112.21 (4);

(o) respecting the application of outstanding credit on a cash card as payment towards a high-cost credit product under section 112.30;

(p) respecting fees for or in relation to optional products;

(q) requiring high-cost credit grantors to provide confirmation of cancellation of optional products;

(r) prescribing fees, penalties, commissions, consideration or other charges that must not be included in the calculation of interest;

(s) respecting any other matter that the Lieutenant Governor in Council considers necessary or advisable for the administration of Part 6.3;

(t) respecting the administration of the Consumer Financial Education Fund, including, without limitation, respecting financial controls and audit requirements.

Compensation funds

198   The Lieutenant Governor in Council may make regulations as follows:

(a) respecting claims for compensation from a compensation fund, including, without limitation, prescribing

(i) circumstances in which the director may defer the payment of claims,

(ii) a maximum amount payable from a fund to a claimant,

(iii) a maximum amount payable from a fund in respect of all claims relating to an event, and

(iv) a period in which a person must file an application with the director in respect of a claim;

(b) respecting the administration of a compensation fund or the Consumer Advancement Fund, including, without limitation, respecting financial controls and audit requirements.

Licences

199   (1) The Lieutenant Governor in Council may make regulations as follows:

(a) establishing the qualifications to be met by an applicant for a licence;

(b) respecting fees and charges payable for a licence, licence application and amendments to a licence;

(c) respecting the conditions that may be imposed on a licence;

(d) requiring a licensee to have a licence for each location from which the licensee conducts business;

(e) prohibiting or regulating an act or practice by a licensee;

(f) requiring a licensee to provide security to ensure the performance of an obligation arising under this Act;

(g) respecting the display and production of licences;

(h) respecting the term and expiration of licences;

(i) respecting the replacement of a licence;

(j) respecting the collection, maintenance and retention of information or records by a licensee and the reporting of any information or records to the director;

(k) respecting the maintenance of trust accounts by licensees, including, without limitation,

(i) prescribing circumstances in which licensees must deposit money that is received in the course of business into a trust account,

(ii) respecting the duties and responsibilities of trustees,

(iii) respecting who is entitled to the money in trust accounts,

(iv) respecting the disbursement of money from trust accounts,

(v) respecting the records to be kept for trust accounts, and

(vi) respecting the audit of trust accounts.

(2) Without limiting subsection (1) (f), the Lieutenant Governor in Council may make regulations respecting the following:

(a) the type of security that is acceptable;

(b) the form and content of the security;

(c) the circumstances under which the security may be realized.

Administrative penalties

200   The Lieutenant Governor in Council may make regulations as follows:

(a) prescribing persons who are subject to the imposition of administrative penalties;

(b) subject to section 165 [amount of penalty], prescribing the amount of the administrative penalties that may be imposed;

(c) authorizing administrative penalties to be imposed on a daily basis for continuing contraventions;

(d) prescribing, in relation to a contravention described in section 164 (1) [administrative penalties], whether a notice imposing an administrative penalty must be cancelled if the person on whom it was served demonstrates to the satisfaction of a director that the person exercised due diligence to prevent the specified contravention;

(e) prescribing the consequences of failing to pay an administrative penalty, which consequences may include, but are not limited to, imposing additional penalties.

Authority in relation to regulations

201   In making regulations under this Act, the Lieutenant Governor in Council or minister may do one or more of the following:

(a) define classes of persons, things, transactions or circumstances;

(b) make different regulations for different classes of persons, things, transactions or circumstances;

(c) delegate a matter to a person;

(d) confer a discretion on a person.