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

Section 33 Disposition versions

2019-08-01

33. In addition to the clauses prescribed by sections 61.0.7 and 61.0.8, a contract for the loan of money must also contain the following compulsory clause:

 “Clause required under the Consumer Protection Act.

(Contract for the loan of money)

(1)  The consumer may cancel this contract without charge within 2 days following that on which each party takes possession of a duplicate of the contract.

To cancel the contract, the consumer must

(a)  return the money to the merchant or the merchant’s representative, if the consumer received the money at the time each party took possession of a duplicate of the contract;

(b)  send a notice in writing to that effect, or return the money to the merchant or the merchant’s representative if the money was not returned to the merchant or the merchant’s representative at the time each party took possession of a duplicate of the contract.

The contract is cancelled, without further formality, as soon as the consumer returns the money or forwards the notice.

(2)  If the consumer uses all or part of the net capital to make full or partial payment for the purchase or the lease of goods or for a service, the consumer may, if the contract for the loan of money was entered into on the making of and in relation to the sale, lease or service contract, and if the merchant and the lender collaborated with a view to granting loans, plead against the lender any ground of defence urgeable against the merchant who is the vendor, lessor, contractor or service provider.

The consumer may also, in the circumstances described above, exercise against the lender, or against the lender’s assignee, any right exercisable against the merchant who is the vendor, lessor, contractor or service provider if that merchant is no longer active or has no assets in Québec, is insolvent or is declared bankrupt. The lender or the lender’s assignee is then responsible for the performance of the obligations of the merchant who is the vendor, lessor, contractor or service provider up to the amount of, as the case may be, the debt owed to the lender at the time the contract is entered into, the debt owed to the assignee at the time it was assigned to him or the payment the lender received if he assigned the debt.

(3)  The consumer may pay, in whole or in part, the amount of the obligation before maturity.

The balance due is equal at all times to the sum of the balance of net capital and credit charges calculated in accordance with the Act and the Regulation respecting the application of the Consumer Protection Act.

(4)  The consumer may, once a month and without charge, request a statement of account from the merchant; the latter must furnish the consumer with the statement of account or forward it to the consumer as soon as possible but at the latest within 10 days of the receipt of the request.

In addition to the statement of account prescribed above, the consumer who wishes to pay the balance of his obligation before maturity may, at all times and without charge, request a statement of account from the merchant; the latter must furnish the consumer with the statement of account or forward it to the consumer as soon as possible but at the latest within 10 days of the receipt of the request.

It is in the consumer’s interest to refer to sections 73, 74, 76, 91, 93 and 103.1 of the Consumer Protection Act (chapter P-40.1) and, if further information is necessary, to contact the Office de la protection du consommateur.”.

R.R.Q., 1981, c. P-40.1, r. 1, s. 33; O.C. 994-2018, s. 19.

2012-09-01

33. In addition to the clauses prescribed in Schedule 3 of the Act, a contract for the loan of money must also contain the following compulsory clause:

“Clause required under the Consumer Protection Act.

(Contract for the loan of money)

“(1)  The consumer may cancel this contract without charge within 2 days following that on which each party takes possession of a duplicate of this contract.

To cancel the contract, the consumer must:

(a)  return the money to the merchant or his representative if he received the money at the time each party took possession of a duplicate of the contract;

(b)  send a notice in writing to that effect, or return the money to the merchant or his representative if the money was not returned to him at the time each party took possession of a duplicate of the contract.

The contract is cancelled, without further formality, as soon as the consumer returns the money or forwards the notice.

“(2)  If the consumer uses the money to make full or partial payment for the purchase or lease of goods or services, he may, if the money lender and the vending or leasing merchant regularly work together with a view to the granting of loans of money to consumers, plead against the money lender any ground of defence that he may urge against the vending or leasing merchant.

“(3)  The consumer may pay, in whole or in part, amount of his obligation before maturity.

The balance due is equal at all times to the sum of the balance of net capital and credit charges computed in accordance with the Act and the General Regulation made under the Act.

“(4)  The consumer may, once a month and without charge, request a statement of account from the merchant; the latter must furnish him with the statement of account or forward it to him as soon as possible but at the latest within 10 days of the receipt of the request.

In addition to the statement of account prescribed above, the consumer who wishes to pay the balance of his obligation before maturity may, at all times and without charge, request a statement of account from the merchant; the latter must furnish him with the statement of account or forward it to him as soon as possible but at the latest within 10 days of the receipt of the request.

It is in the consumer’s interest to refer to sections 73, 74, 76, 91, 93 and 116 of the Consumer Protection Act (chapter P-40.1) and, where necessary, to communicate with the Office de la protection du consommateur.”.

R.R.Q., 1981, c. P-40.1, r. 1, s. 33.