P-40 - Consumer Protection Act

Section 24 Disposition versions

1977-12-31

24. A merchant who extends variable credit must furnish the consumer with a master agreement setting out:

(a)  the date and place of the contract if it is made in the presence of the merchant and of the consumer;

(b)  the name and address of the merchant;

(c)  the name and address of the consumer;

(d)  the amount up to which variable credit is extended or the fact that there is no restriction on such amount, as the case may be;

(e)  the duration of each period for which a statement of account is furnished;

(f)  the minimum credit charge for each period or the minimum annual charge;

(g)  the credit rate exigible on the unpaid balance at the expiry of each period;

(h)  a table of examples of the credit charge on the unpaid balance at the end of each period;

(i)  anything else required by regulation.

1971, c. 74, s. 24.