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

Section 13 Disposition versions

2012-09-01

13. The contracts referred to in sections 89 and 100 of the Act are eligible for the exemptions provided for in those sections where the credit rate is disclosed therein as an annual percentage that applies to the net capital balance outstanding; the credit charges must thereupon be disclosed as though the contract were made for a term of 1 year and as though the net capital and the credit rate remained unchanged during that time. If, however, the date of maturity is fixed, the term indicated in the contract must be used to compute and disclose the credit charges.

R.R.Q., 1981, c. P-40.1, r. 1, s. 13.