Which are the consequences of non-compliance with the Act and Regulations?

Which are the consequences of non-compliance with the Act and Regulations?

Listed below are the conditions which is why a notice of administrative penalty might be granted no credit check installment loans.

19(1) A notice of administrative penalty might be given under subsection 136(1) associated with Act if somebody doesn’t adhere to some of the after conditions for the Act:

  1. Subsection 139(1) (licence needed to offer pay day loans);
  2. Subsection 139(2) (use of title);
  3. Subsection 141(1) (licence maybe not transferable or assignable);
  4. Subsection 147(1) (limitation re price of credit);
  5. Clause 147(2)(b) (reimbursement);
  6. Part 148 (papers to be provided with at time of initial advance);
  7. Subsection 149(6) (payday loan provider to offer receipt);
  8. Subsection 149(8) (no charge on cancellation);
  9. Subsection 149(9) (reimbursement to borrower on termination of loan);
  10. Part 150 (no safety you need to take);
  11. Subsection 151(2) (asking for or wage that is requiring prohibited);
  12. Subsection 151.1(1) (optimum level of loan);
  13. Subsection 152(1) (limitation on prices for expansion, renewal and for replacement loan);
  14. Clause 152(2 b that is)( (reimbursement);
  15. Subsection 153(1) (limit to quantities payable for default);
  16. Clause 153(2)(b) (reimbursement);
  17. Subsection 154(1) (concurrent loans prohibited);
  18. Clause 154(2)(b) (reimbursement);
  19. Area 156 (information to be posted);
  20. Part 157 (documents become held);
  21. Part 158 (documents to be produced readily available for examination);
  22. Subsection 159(4) (assist with officer or authorized individual). (more…)