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

Section 69.2 Disposition versions

2012-09-01

69.2. A merchant who is a party to a contract of lease with guaranteed residual value of an automobile and who alienates the automobile by sale at public auction after the end of the leasing period is exempt from the obligation prescribed in section 150.30 of the Act, where all of the following conditions are met:

(a)  (paragraph implicitly revoked; 1996, chapter 56, s. 47);

(b)  the sale at public auction was organized by a person other than the merchant, his representative or his employee;

(c)  the sale is concluded on the day of the auction without right of retraction for the acquirer.

O.C. 600-92, s. 6.