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P-40.1, r. 3 - Regulation respecting the application of the Consumer Protection Act
Section 150
Disposition versions
150. The security to be furnished by a merchant wishing to be exempt from the application of section 256 of the Act is based on the sales indicated in the financial statements for the previous fiscal period.
The security shall be determined, according to the following scale:
Sales Security
_______________________________ __________
$0.00 to $999,999.99 $40,000
$1,000,000.00 to $1,999,999.99 $80,000
$2,000,000.00 to $4,999,999.99 $120,000
$5,000,000.00 or more $160,000
_______________________________ __________
$0.00 to $999,999.99 $40,000
$1,000,000.00 to $1,999,999.99 $80,000
$2,000,000.00 to $4,999,999.99 $120,000
$5,000,000.00 or more $160,000
150. The security to be furnished by a merchant wishing to be exempt from the trust account required by section 256 of the Act is based on the sales indicated in the financial statements for the previous fiscal period.
The security shall be determined, according to the following scale:
Sales Security
_______________________________ __________
$0.00 to $999,999.99 $40,000
$1,000,000.00 to $1,999,999.99 $80,000
$2,000,000.00 to $4,999,999.99 $120,000
$5,000,000.00 or more $160,000
_______________________________ __________
$0.00 to $999,999.99 $40,000
$1,000,000.00 to $1,999,999.99 $80,000
$2,000,000.00 to $4,999,999.99 $120,000
$5,000,000.00 or more $160,000
150. The security to be furnished by a merchant wishing to be exempt from the trust account required by section 256 of the Act is based on the sales indicated in the financial statements for the previous fiscal period and on the number of establishments in operation.
The security shall be determined on the basis of sales, according to the following scale:
Sales Security
_______________________________ __________
$0.00 to $999,999.99 $40,000
$1,000,000.00 to $1,999,999.99 $80,000
$2,000,000.00 to $4,999,999.99 $120,000
$5,000,000.00 or more $160,000
_______________________________ __________
$0.00 to $999,999.99 $40,000
$1,000,000.00 to $1,999,999.99 $80,000
$2,000,000.00 to $4,999,999.99 $120,000
$5,000,000.00 or more $160,000
The security thus determined shall be increased by $20,000 per establishment for any establishment in operation in addition to the main establishment.
