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Order Designating Ontario for the Purposes of the Criminal Interest Rate Provisions of the Criminal Code (SOR/2009-277)

Regulations are current to 2024-11-26 and last amended on 2009-12-15. Previous Versions

Order Designating Ontario for the Purposes of the Criminal Interest Rate Provisions of the Criminal Code

SOR/2009-277

CRIMINAL CODE

Registration 2009-10-01

Order Designating Ontario for the Purposes of the Criminal Interest Rate Provisions of the Criminal Code

P.C. 2009-1628 2009-10-01

Whereas Ontario has legislative measures that protect recipients of payday loans and that provide for limits on the total cost of borrowing under a payday loan agreement;

And whereas the Lieutenant Governor in Council of Ontario has requested that the Governor in Council designate that province for the purposes of section 347.1Footnote a of the Criminal CodeFootnote b;

Therefore, Her Excellency the Governor General in Council, on the recommendation of the Minister of Justice and the Minister of Industry, pursuant to subsection 347.1(3)Footnote a of the Criminal CodeFootnote b, hereby makes the annexed Order Designating Ontario for the Purposes of the Criminal Interest Rate Provisions of the Criminal Code.

Province Designated

1 Ontario is designated for the purposes of section 347.1 of the Criminal Code.

Coming into Force

Footnote *2 This Order comes into force at 12:00 a.m., Eastern time or — in that part of Ontario in the Central time zone — Central time, on the first day on which both of the following are in force:

  • (a) the Payday Loans Act, 2008, S.O. 2008, c. 9, except for sections 52 and 66 to 74; and

  • (b) Ontario Regulation 98/09, except for sections 37 and 38.

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