GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Insurable Housing Loan Regulations — 1
ng possession. ( nouvellement construit ) quarter means any period of three consecutive months beginning on January 1, April 1, July 1 or October 1. ( trimestre ) total debt service ratio means the percentage of a borrower’s gross annual income that is required to cover their annual payments associated with housing and all other debts. ( coefficient d’amortissement total de la dette ) value of the eligible residential property means the value that is ascribed to an eligible residential property by a lender or the Corporation for the purpose of granting or insuring a housing loan and that is verified using a method that is generally accepted by prudent lenders, insurers or professional residential property appraisers. If the purpose of the loan includes the purchase of the property, the value must not exceed (a) the purchase price of the property; or (b) the purchase price of the property plus the estimated cost to the borrower of planned improvements to the property, if the purpose of the loan also includes those improvements. ( valeur de l’immeuble résidentiel admissible ) Verification of value (2) For the purposes of the definition value of the eligible residential property in subsection (1), generally accepted methods of verifying value include (a) the use of a statistically reliable and up-to-date valuation model that assesses the value’s reasonableness; (b) a fair-market-value appraisal by a professional residential property appraiser who is independent of the borrower; (c) a drive-by appraisal; or (d) a review of the value of comparable properties. Principal amount (3) For the purposes of these Regulations, the principal amount of a loan does not include any housing loan insurance premiums. SOR/2016-10, s. 1 SOR/2025-55, s. 1
Insurable Housing Loan Regulations — Insurable Housing Loan Regulations
Act means the National Housing Act . ( Loi )
Insurable Housing Loan Regulations — (a)
credit score means a score that is (a) issued by a credit reporting agency that is incorporated by or under an Act of Parliament or of the legislature of a province; and (b) based on a scale that is substantially equivalent to a scale used on June 26, 2011 by a credit reporting agency that was at that time incorporated by or under an Act of Parliament or of the legislature of a province. ( pointage de crédit )
Insurable Housing Loan Regulations — Insurable Housing Loan Regulations
eligible residential property means a property consisting of one to four family housing units, together with any associated property interests or real rights, structures and facilities. ( immeuble résidentiel admissible )
Insurable Housing Loan Regulations — (a)
first-time home buyer means an individual who, at the time of purchasing an eligible residential property, (a) has never before purchased an eligible residential property in Canada; (b) has not, in the calendar year in question or at any time in the four preceding calendar years, occupied as a principal place of residence an eligible residential property in Canada that was owned, whether jointly with another person or otherwise, by (i) the individual, or (ii) their current spouse or common-law partner; or (c) is an individual who (i) is living separate and apart from their spouse or common-law partner because of a breakdown of their marriage or common-law partnership, (ii) has been living separate and apart from their spouse or common-law partner for a period of at least 90 days, and (iii) began living separate and apart from their spouse or common-law partner in the calendar year in question or at any time in the four preceding calendar years. ( acheteur d’une première habitation )
Insurable Housing Loan Regulations — Insurable Housing Loan Regulations
funded means, in respect of a housing loan, that money under the loan has been advanced to the borrower. ( financé )
Insurable Housing Loan Regulations — Insurable Housing Loan Regulations
gross debt service ratio means the percentage of a borrower’s gross annual income that is required to cover the annual payments associated with the eligible residential property against which a housing loan is secured. ( coefficient d’amortissement brut de la dette )
Insurable Housing Loan Regulations — Insurable Housing Loan Regulations
high ratio loan means a housing loan that is secured by an eligible residential property and whose principal amount, together with the outstanding balance of any loan having an equal or prior claim against the eligible residential property, is greater than 80% of the value of the eligible residential property at the time the loan is approved. ( prêt à ratio élevé )
Insurable Housing Loan Regulations — Insurable Housing Loan Regulations
loan for the addition of family housing units means a housing loan that is secured by an eligible residential property, whose purpose is the improvement, conversion or development of the eligible residential property to increase the number of family housing units that it contains and whose only other purpose may be the discharge of the outstanding balance of a prior loan against the property. ( prêt pour l’ajout de logements familiaux )
Insurable Housing Loan Regulations — Insurable Housing Loan Regulations
low ratio loan means a housing loan that is secured by an eligible residential property and whose principal amount, together with the outstanding balance of any loan having an equal or prior claim against the eligible residential property, is less than or equal to 80% of the value of the eligible residential property at the time the loan is approved. ( prêt à faible ratio )
Insurable Housing Loan Regulations — (a)
newly built , in respect of an eligible residential property, means that (a) the property has never been occupied for residential purposes; or (b) in the case of a condominium unit or a private portion of a divided co-ownership, the property has never been occupied for residential purposes other than during a period in which the borrower assumed occupancy on an interim basis before the registration of the condominium declaration or declaration of co-ownership or before taking possession. ( nouvellement construit )
Insurable Housing Loan Regulations — Insurable Housing Loan Regulations
quarter means any period of three consecutive months beginning on January 1, April 1, July 1 or October 1. ( trimestre )
Insurable Housing Loan Regulations — Insurable Housing Loan Regulations
total debt service ratio means the percentage of a borrower’s gross annual income that is required to cover their annual payments associated with housing and all other debts. ( coefficient d’amortissement total de la dette )
Insurable Housing Loan Regulations — (a)
value of the eligible residential property means the value that is ascribed to an eligible residential property by a lender or the Corporation for the purpose of granting or insuring a housing loan and that is verified using a method that is generally accepted by prudent lenders, insurers or professional residential property appraisers. If the purpose of the loan includes the purchase of the property, the value must not exceed (a) the purchase price of the property; or (b) the purchase price of the property plus the estimated cost to the borrower of planned improvements to the property, if the purpose of the loan also includes those improvements. ( valeur de l’immeuble résidentiel admissible )
Insurable Housing Loan Regulations — 2
No pre-existing contract 2 These Regulations apply to every housing loan that is not insured under a contract of insurance that the Corporation and an approved lender entered into before the coming into force of these Regulations.
Insurable Housing Loan Regulations — 4
General criteria 4 A housing loan must be (a) underwritten and administered by an approved lender or held in a registered retirement savings plan or a registered retirement income fund and administered by an approved lender; and (b) secured in first or second priority position by an eligible residential property.
Insurable Housing Loan Regulations — 5
ratio and total debt service ratio are to be calculated using the annual payments, in respect of the loan and any other loan with an equal or prior claim against the eligible residential property, that would be required to conform to the amortization schedule agreed to by the borrower and the lender if the interest rate were the greater of (a) the interest rate set out in the loan agreement plus 2%, and (b) 5.25%. Reasonable likelihood of repayment (4) A high ratio loan does not meet the criterion set out in paragraph (1)(j) unless the lender or the Corporation has made reasonable efforts to verify the borrower’s income and employment status or, if the borrower is self-employed, to assess the plausibility of the income reported by the borrower. SOR/2016-10, s. 2; SOR/2017-271, s. 1 SOR/2025-55, s. 3
Insurable Housing Loan Regulations — 6
ow ratio loan, as the case may be, the gross debt service ratio and total debt service ratio must not exceed 39% and 44%, respectively; (l) at the time of the approved lender’s initial approval of the loan or discharge of the outstanding balance of a prior low ratio loan, as the case may be, if the eligible residential property against which the loan is secured contains only one family housing unit, that unit will be occupied by the borrower or by a person related to them by marriage, common-law partnership or any legal parent-child relationship; and (m) at the time of the mortgage or hypothecary insurance application, the loan must be reasonably likely to be repaid, having regard to the borrower’s capacity to make the loan payments while paying their other debts and meeting their other obligations over the term of the loan, based on reasonable assumptions as to what the highest loan payment over the term of the loan will be. Credit score exception (2) The criterion specified in paragraph (1)(j) does not apply if no more than 3% of the lender’s high ratio loans and low ratio loans that were approved for insurance and funded during one of the following periods were loans in respect of which no borrower or guarantor had a credit score of at least 600: (a) the first four quarters of the preceding five quarters; (b) the first four quarters of the preceding six quarters; or (c) the first four quarters of the preceding seven quarters. Debt service ratio calculations (3) For the purpose of paragraph (1)(k), the gross debt service ratio and total debt service ratio must be calculated using the annual payments, in respect of the loan and any other loan with an equal or prior claim against the eligible residential property, that would be required to conform to the amortization schedule agreed to by the borrower and the lender if the interest rate were the greater of (a) the interest rate set out in the loan agreement plus 2%, and (b) 5.25%. Debt service ratio exception (3.1) The criterion specified in paragraph (1)(k) does not apply if (a) the loan is for the discharge of the outstanding balance of a prior low ratio loan; (b) the lender of the loan being discharged is a bank to which the Bank Act applies, an association to which the Cooperative Credit Associations Act applies or a company to which the Insurance Companies Act or the Trust and Loan Companies Act applies; and (c) the housing loan insurance application in respect of the loan is received on or after December 16, 2024. Reasonable likelihood of repayment (4) A low ratio loan does not meet the criterion set out in paragraph (1)(m) unless the approved lender or the Corporation has made reasonable efforts to verify the borrower’s income and employment status or, if the borrower is self-employed, to assess the plausibility of the income reported by the borrower. SOR/2016-10, s. 3; SOR/2017-271, s. 2 SOR/2025-55, s. 4
Insurable Housing Loan Regulations — 6.1
preceding five quarters; (b) the first four quarters of the preceding six quarters; or (c) the first four quarters of the preceding seven quarters. Debt service ratio calculations (3) For the purposes of paragraph (1)(k), the gross debt service ratio and total debt service ratio are to be calculated using the annual payments, in respect of the loan and any other loan with an equal or prior claim against the eligible residential property, that would be required to conform to the amortization schedule agreed to by the borrower and the lender if the interest rate were the greater of (a) the interest rate set out in the loan agreement plus 2%, and (b) 5.25%. Reasonable likelihood of repayment (4) A loan does not meet the criterion set out in paragraph (1)(l) unless the lender or the Corporation has made reasonable efforts to verify the borrower’s income and employment status or, if the borrower is self-employed, to assess the plausibility of the income reported by the borrower. Non-application — applications before January 15, 2025 (5) This section applies only to loans in respect of which the housing loan insurance application is received on or after January 15, 2025. SOR/2025-55, s. 5
Insurable Housing Loan Regulations — 7
during the period beginning on March 18, 2011 and ending on June 21, 2012, (i) the Corporation received a housing loan insurance application in respect of the loan, (ii) the lender made a legally binding commitment to make the loan to the borrower, or (iii) the borrower entered into a legally binding agreement of purchase and sale in respect of the eligible residential property against which the loan is secured. High ratio loans — June 22, 2012 to July 8, 2012 (5) The criteria set out in paragraphs 5(1)(a), (b), (c), (d) and (h) do not apply to a high ratio loan if (a) the loan meets the criteria set out in paragraphs (4)(a) to (c); and (b) during the period beginning on June 22, 2012 and ending on July 8, 2012, the Corporation received a housing loan application in respect of the loan and the loan is funded not later than (i) December 31, 2012, or (ii) June 30, 2013, if it is documented as being scheduled to be funded no later than December 31, 2012 but is delayed due to unforeseen circumstances beyond the borrower’s control. High ratio loans — June 22, 2012 to February 14, 2016 (6) The criterion set out in paragraph 5(1)(a) does not apply to a high ratio loan if, at the time the loan is approved, its principal amount, together with the outstanding balance of any loan having an equal or prior claim against the eligible residential property against which it is secured, is less than or equal to 95% of the value of the eligible residential property and (a) during the period beginning on June 22, 2012 and ending on July 8, 2012, the Corporation received a housing loan insurance application in respect of the loan and the loan was not funded in accordance with paragraph (5)(b); (b) during the period beginning on July 9, 2012 and ending on December 10, 2015 (i) the Corporation received a housing loan insurance application in respect of the loan, (ii) the lender made a legally binding commitment to make the loan to the borrower, or (iii) the borrower entered into a legally binding agreement of purchase and sale in respect of the eligible residential property against which the loan is secured; or (c) during the period beginning on December 11, 2015 and ending on February 14, 2016, the Corporation received a housing loan insurance application in respect of the loan and the loan is funded not later than (i) July 1, 2016, or (ii) December 31, 2016, if it is documented as being scheduled to be funded not later than July 1, 2016 but is delayed due to unforeseen circumstances beyond the borrower’s control. SOR/2016-10, s. 4
Insurable Housing Loan Regulations — 8
Low ratio loans — before October 15, 2008 8 (1) The criterion set out in paragraphs 6(1)(a) does not apply to a low ratio loan in respect of which the Corporation received a housing loan insurance application before October 15, 2008 if it meets the requirements of a housing loan insurance product that was offered by the Corporation before that date. Low ratio loans — October 15, 2008 to April 17, 2011 (2) The criterion set out in paragraph 6(1)(a) does not apply to a low ratio loan in respect of which the Corporation received a housing loan insurance application during the period beginning on October 15, 2008 and ending on April 17, 2011. Low ratio loans — before July 1, 2016 (3) The criterion set out in paragraph 6(1)(d) does not apply to a low ratio loan if the Corporation received a housing loan insurance application in respect of the loan — or in respect of the portfolio of loans to which the loan will belong for insurance purposes — before July 1, 2016, unless the application has been denied or the loan has ceased to be insured under insurance resulting from the application. Low ratio loans — March 24, 2020 to December 31, 2020 (4) The criteria set out in paragraphs 6(1)(e) to (g) do not apply to a low ratio loan if (a) the loan was funded before March 20, 2020; (b) the purpose of the loan (i) includes the purchase of the eligible residential property against which it is secured, (ii) is the discharge of the outstanding balance of a prior low ratio loan, or (iii) is the refinancing of a loan that is secured by an eligible residential property; (c) the amortization schedule is not to exceed 30 years from the day on which the loan was funded; and (d) the Corporation received a housing loan insurance application in respect of the loan – or in respect of the portfolio of loans to which the loan will belong for insurance purposes – during the period beginning on March 24, 2020 and ending on December 31, 2020. SOR/2016-10, s. 5 SOR/2020-297, s. 1
Insurable Housing Loan Regulations — 9
High ratio loans 9 (1) A high ratio loan is to be governed by these Regulations as they read on October 16, 2016 if, on any day before October 17, 2016, (a) the Corporation received a housing loan insurance application in respect of the loan; (b) the lender made a legally binding commitment to make the loan to the borrower; or (c) the borrower entered into a legally binding agreement of purchase and sale in respect of the eligible residential property against which the loan is secured. Low ratio loans (2) A low ratio loan is to be governed by these Regulations as they read on October 16, 2016 (a) if, on any day before November 29, 2016, (i) the Corporation received a housing loan insurance application in respect of the loan, (ii) the lender made a legally binding commitment to make the loan to the borrower, or (iii) the borrower entered into a legally binding agreement of purchase and sale in respect of the eligible residential property against which the loan is secured; and (b) if the condition referred to in paragraph (a) was met on or after October 17, 2016, the loan is funded not later than (i) April 30, 2017, or (ii) October 31, 2017, if the loan is documented as being scheduled to be funded not later than April 30, 2017 but was delayed due to unforeseen circumstances beyond the borrower’s control. SOR/2017-271, s. 3
Insurable Housing Loan Regulations — 10
Before June 1, 2021 10 A high ratio loan or low ratio loan is to be governed by these Regulations as they read on May 31, 2021 if, on any day before June 1, 2021, (a) the Corporation received a housing loan insurance application in respect of the loan; (b) the lender made a legally binding commitment to make the loan to the borrower; or (c) the borrower entered into a legally binding agreement of purchase and sale in respect of the eligible residential property against which the loan is secured. SOR/2025-55, s. 6
Insurable Housing Loan Regulations — 11
High ratio loans — August 1, 2024 to December 14, 2024 11 A high ratio loan is to be governed by these Regulations as they read on December 14, 2024 if the housing loan insurance application in respect of the loan was received on or after August 1, 2024 but before December 15, 2024. SOR/2025-55, s. 7
Insurable Housing Loan Regulations — 6
6 The criteria set out in paragraphs 5(1)(k) and 6(c) do not apply to a loan that is part of a pool of loans on the direct basis of which marketable securities were issued before July 1, 2016 during the period beginning on that day and ending on December 31, 2021.
Prohibition of Certain Toxic Substances Regulations, 2012 — Prohibition of Certain Toxic Substances Regulations, 2012
Whereas, pursuant to subsection 332(1) a of the Canadian Environmental Protection Act, 1999 b , the Minister of the Environment published in the Canada Gazette , Part I, on July 23, 2011, a copy of the proposed Prohibition of Certain Toxic Substances Regulations, 2012 , substantially in the annexed form, and persons were given an opportunity to file comments with respect to the proposed Regulations or to file a notice of objection requesting that a board of review be established and stating the reasons for the objection;
Prohibition of Certain Toxic Substances Regulations, 2012 — Prohibition of Certain Toxic Substances Regulations, 2012
Whereas, pursuant to subsection 93(3) of that Act, the National Advisory Committee has been given an opportunity to provide its advice under section 6 c of that Act;
Prohibition of Certain Toxic Substances Regulations, 2012 — Prohibition of Certain Toxic Substances Regulations, 2012
And whereas, in the opinion of the Governor in Council, pursuant to subsection 93(4) of that Act, the proposed Regulations do not regulate an aspect of a substance that is regulated by or under any other Act of Parliament in a manner that provides, in the opinion of the Governor in Council, sufficient protection to the environment and human health;
Prohibition of Certain Toxic Substances Regulations, 2012 — Prohibition of Certain Toxic Substances Regulations, 2012
Therefore, His Excellency the Governor General in Council, on the recommendation of the Minister of the Environment and the Minister of Health, pursuant to subsection 93(1) of the Canadian Environmental Protection Act, 1999 b , makes the annexed Prohibition of Certain Toxic Substances Regulations, 2012 .
Prohibition of Certain Toxic Substances Regulations, 2012 — 1
Application 1 Subject to sections 2 and 3 , these Regulations apply to toxic substances that are both specified in the List of Toxic Substances in Schedule 1 to the Canadian Environmental Protection Act, 1999 and set out in either Schedule 1 or 2 to these Regulations.
Prohibition of Certain Toxic Substances Regulations, 2012 — 2
Non-application — substance 2 These Regulations do not apply to any toxic substance that (a) is contained in a hazardous waste, hazardous recyclable material or non-hazardous waste to which Division 8 of Part 7 of the Canadian Environmental Protection Act, 1999 applies; (b) is contained in a pest control product as defined in subsection 2(1) of the Pest Control Products Act ; or (c) is present as a contaminant in a chemical feedstock that is used in a process from which there are no releases of the toxic substance and on the condition that the toxic substance is destroyed or completely converted in that process to a substance that is not a toxic substance set out in either Schedule 1 or 2.