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

Section 12.2 Disposition versions

2018-08-01

12.2. Merchants who have entered into a contract for the loan of money secured by a movable hypothec with delivery or a contract deemed to constitute a contract for the loan of money under the first paragraph of section 115.1 of the Act, where the amount of the net capital of the contract and any other contract for the loan of money of the same type entered into during a period of 30 days preceding the entering into of the contract does not exceed $500 are exempt from the application of the second paragraph of section 73, sections 94, 103.2, 103.3, 103.4, except the third paragraph, sections 105 and 245.2 of the Act, paragraph b of section 31.1 and the first two paragraphs of the fourth paragraph of section 33.

Section 103.5 of the Act does not apply to a contract that meets the conditions prescribed in the first paragraph.

O.C. 994-2018, s. 7.