108.1. The duties that must be paid by an applicant for a merchant’s permit to offer or make a contract of additional warranty are fixed as follows:Periods | Duties |
From 1 July 2019 to 30 April 2021 | $1,023 |
From 1 May 2021 to 30 April 2023 | $1,535 |
From 1 May 2023 to 30 April 2025 | $2,046 |
From 1 May 2025 | $2,567 |
The security to be furnished by the applicant is:(a) $100,000 for an initial application for a permit;
(b) equal to the greater of the following two amounts, for subsequent applications: $100,000 or the multiple of $50,000 closest to 50% of the sales of the applicant’s business without exceeding that 50% or the amount of maximum security.
The maximum security exigible, determined in relation to the expiry date of the permit to be renewed, is $200,000 from 30 June 1995, and it must be increased thereafter by $100,000 on 30 June of each year until it reaches $500,000.
A merchant referred to in section 25.2 is exempt from the obligation of furnishing the security prescribed in this section.
O.C. 1978-85, s. 6; O.C. 1148-90, s. 13; O.C. 600-92, s. 11; O.C. 712-95, s. 2; 1244-2017O.C. 1244-2017, s. 151.