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

Section 120.1 Disposition versions

2012-09-01

120.1. The security prescribed by section 108.1 is required to guarantee, for the duration of the security, compliance with the Act and respect for obligations arising from contracts of additional warranty by the merchant who has furnished security or by his representative:

(a)  firstly, by the payment of administrative costs and the fees of the provisional administrator appointed under section 260.16 of the Act;

(b)  secondly, to indemnify in capital, interest and costs any consumer holding a liquidated debt resulting from non-compliance with the Act or from a contract of additional warranty and certified, either by a judgment rendered against the merchant, his representative or the surety, or by an agreement or transaction entered into between the consumer, on the one hand, and the merchant, his representative, the trustee, the provisional administrator appointed in accordance with section 260.16 of the Act or the surety, on the other hand;

(c)  lastly, to recover the fine and the costs imposed upon the merchant or his representative under Chapter III of Title IV of the Act.

O.C. 1978-85, s. 12; O.C. 1150-89, s. 5; O.C. 1148-90, s. 19.