Order Designating British Columbia for the Purposes of the Criminal Interest Rate Provisions of the Criminal Code
P.C. 2009-1629 2009-10-01
Whereas British Columbia has legislative measures that protect recipients of payday loans and that provide for limits on the total cost of borrowing under a payday loan agreement;
And whereas the Lieutenant Governor in Council of British Columbia has requested that the Governor in Council designate that province for the purposes of section 347.1Footnote a of the Criminal CodeFootnote b;
Therefore, Her Excellency the Governor General in Council, on the recommendation of the Minister of Justice and the Minister of Industry, pursuant to subsection 347.1(3)Footnote a of the Criminal CodeFootnote b, hereby makes the annexed Order Designating British Columbia for the Purposes of the Criminal Interest Rate Provisions of the Criminal Code.
Coming into Force
Footnote *2 This Order comes into force at 12:00 a.m., Pacific time or — in that part of the province in the Mountain time zone — Mountain time, on the first day on which all of the following are in force:
(a) the Business Practices and Consumer Protection (Payday Loans) Amendment Act, 2007, S.B.C. 2007, c. 35, except for the following:
(i) sections 112.12 to 112.15 of the Business Practices and Consumer Protection Act, S.B.C. 2004, c. 2, as enacted by section 4,
(ii) sections 5 and 6, and
(iii) paragraph 189(4)(f.6) of the Business Practices and Consumer Protection Act, S.B.C. 2004, c. 2, as enacted by section 8;
(b) sections 5.1 and 7.3 of the Business Practices and Consumer Protection Regulation, B.C. Reg. 294/2004, as enacted by B.C. Reg. 57/2009; and
(c) the Payday Loans Regulation, as enacted by B.C. Reg. 57/2009.
Return to footnote *[Note: Order in force November 1, 2009.]
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