“investigator” means an detective appointed under subsection 48 (1); (“enqueteur”)

“lender” means a 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 offered to make such that loan; (“preteur”)

“licence” means a licence granted under this Act; (“permis”)

“licensee” means somebody who holds a licence released under this Act; (“titulaire”, “titulaire de permis”)

“loan broker” means a company, partnership, single proprietor, relationship or other entity or specific that assists a debtor in acquiring a quick payday loan or that holds yourself out as offered 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 administration with this Act is assigned beneath the Executive Council Act; (“ministre”)

“Ministry” means the ministry regarding the Minister; (“ministere”)

(a) with respect to a firm, the seat and any vice-chair regarding the board of directors, the president and any vice-president, the assistant and assistant secretary, the treasurer and treasurer that is assistant the overall supervisor and associate general supervisor for installment loans the organization,

(b) with respect to a partnership, somebody or manager that is general associate general supervisor for the partnership, and

(c) pertaining to a firm or partnership, any kind of specific designated as an officer by by-law or quality or just about any other person whom carries out functions usually done by a person occupying office that is such (“dirigeant”)

“payday loan” means an development of income in return for a post-dated cheque, a pre-authorized debit or the next re re payment of the same nature yet not for almost any guarantee, suretyship, overdraft security or safety on home and never through a margin loan, pawnbroking, a credit line or credit cards; (“pret sur salaire”)

“payday loan agreement” means an agreement under which a lender makes an online payday loan to a borrower; (“convention de pret salaire” that is sur

“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 people and entities

(2) For purposes with this Act, someone or entity is related to someone or entity in just about any regarding the circumstances that are following

1. One entity or person is just a firm of that the other individual or entity is definitely an officer or manager.

2. One individual or entity is really a partnership of that the other individual or entity is just a partner.

3. Both people or entities are lovers regarding the same partnership.

4. One individual or entity is an organization this is certainly controlled straight or indirectly by one other individual or entity.

5. Both people or entities are corporations and something organization is managed straight or indirectly because of the exact same individual or entity whom controls straight or indirectly one other firm.

6. Both individuals or entities are people in the exact same voting trust associated with stocks of the business.

7. Both people or entities are linked inside the concept of paragraphs 1 to 6 with all the person that is same entity. 2008, c. 9, s. 1 (2).

Application of Act

2 (1) susceptible to the laws, this Act is applicable in respect of most loans that are payday the debtor, loan provider or loan broker is situated in Ontario once the loan is manufactured or even to be manufactured. 2008, c. 9, s. 2 (1).

(2) with the exception of area 32, this Act is applicable with necessary alterations to those loans, apart from pay day loans, which are recommended as well as in that situation the sources to pay day loans 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 loans that are payday classes of people, entities or pay day loans that are 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, agreement or deal as well as in therefore doing may dismiss the form that is outward. 2008, c. 9, s. 4.

5 (1) The Deputy Minister shall appoint someone as Registrar for the purposes with this Act. 2008, c. 9, s. 5 (1).

Powers and duties

(2) The Registrar may work out the capabilities and shall perform the duties conferred from the Registrar under this Act. 2008, c. 9, s. 5 (2); 2009, c. 33, Sched. 10, s. 12.

Part Amendments with date in effect (d/m/y)

ROLE II Licences

Requirement of 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, susceptible to area 17, has gotten notice on paper through the Registrar associated with the licence; or

(b) is regarded as become certified under part 18. 2008, c. 9, s. 6 (1).

Same, loan broker