P-40.1, r. 3 - Regulation respecting the application of the Consumer Protection Act

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61.1. In accordance with section 100.1 of the Act, credit contracts that provide for a variable credit rate are exempt from the application of the Act mentioned in that section, provided that they
(a)  include, depending on the nature of the contract, the information prescribed by section 115, 125, 134 or 150 of the Act;
(b)  stipulate, except in the case of an open credit contract, equal deferred payments, except the final payment which may be less, by reserving the possibility that the amount of the payments and the number of payments be adjusted based on the variations of the credit rate.
For the application of section 52 or 59, as the case may be, to the contracts thus exempted, the credit rate application to the computation of credit charges is the rate that, according to the terms of the contract, was in force on the days included in the payment period for which the computation is made.
O.C. 712-95, s. 1; 994-2018O.C. 994-2018, s. 38.
61.1. In accordance with section 100.1 of the Act, contracts for the loan of money and contracts involving credit which provide that the credit rate is subject to variation are exempt from the application of the provisions of the Act mentioned in that section, provided that they:
(a)  indicate the initial credit rate;
(b)  describe the reference index under which the credit rate may rise or drop;
(c)  describe the mechanism of variation of the credit rate and how that variation will affect the terms and conditions of payment;
(d)  stipulate equal deferred payments, except the final payment, which may be less, preserving the possibility that the amount of the payments and their number be adjusted according to the variations in the credit rate; and
(e)  include the particulars prescribed by section 115, 134 or 150 of the Act, according to the nature of the contract, and specify that the information on the terms and conditions of credit is furnished for information only on the basis of the initial credit rate and that the information is subject to variation according to the variation in that rate.
For the application of section 52 to the contracts thus exempted, the credit rate application to the computation of credit charges is the rate that, according to the terms of the contract, was in force on the days included in the payment period for which the computation is made.
O.C. 712-95, s. 1.