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

Section 45.3 Disposition versions

2019-08-01

45.3. A contract of lease with guaranteed residual value entered into by an itinerant merchant and subject to sections 58 to 65 of the Act must contain, in addition to the clauses prescribed by section 69.4.1 and the clauses prescribed in sections 45.1 and 45.2, the following compulsory clause:

“Clause required under the Consumer Protection Act.

(Contract of lease with guaranteed residual value entered into by an itinerant merchant)

The merchant must obtain permission of the court before recovering possession of leased goods where the consumer in default has paid at least one-half or more of his maximum obligation.

The consumer may purchase leased goods at all times under the conditions fixed by the Act; to that end, he may require a statement of account.

The consumer’s residual value exigible is limited by the Act.

The merchant may not, in some cases, sell leased goods at a price lower than the residual value without first offering it to the consumer at that price.

It is in the consumer’s interest to refer to sections 58 to 65, 150.21 and 150.27 to 150.32 of the Consumer Protection Act (chapter P-40.1) and, if necessary, contact the Office de la protection du consommateur.”.

O.C. 600-92, s. 5; O.C. 932-98, s. 5; O.C. 994-2018, s. 31.

2012-09-01

45.3. A contract of lease with guaranteed residual value entered into by an itinerant merchant and subject to sections 58 to 65 of the Act must contain, in addition to the clauses prescribed in Schedule 7.3 of the Act and the clauses prescribed in sections 45.1 and 45.2, the following compulsory clause:

“Clause required under the Consumer Protection Act.

(Contract of lease with guaranteed residual value entered into by an itinerant merchant)

The merchant must obtain permission of the court before recovering possession of leased goods where the consumer in default has paid at least one-half or more of his maximum obligation.

The consumer may purchase leased goods at all times under the conditions fixed by the Act; to that end, he may require a statement of account.

The consumer’s residual value exigible is limited by the Act.

The merchant may not, in some cases, sell leased goods at a price lower than the residual value without first offering it to the consumer at that price.

It is in the consumer’s interest to refer to sections 58 to 65, 150.21 and 150.27 to 150.32 of the Consumer Protection Act (chapter P-40.1) and, if necessary contact the Office de la protection du consommateur.”.

O.C. 600-92, s. 5; O.C. 932-98, s. 5.