PART VI AUTOMOBILE INSURANCE
Liability of lessors
267.12 (1) Despite any other provision in this Part, except subsections (4) and (5), in an action in Ontario for loss or damage from bodily injury or death arising directly or indirectly from the use or operation of a motor vehicle that is leased, the maximum amount for which the lessor or lessors of the motor vehicle are liable in respect of the same incident in their capacity as lessors of the motor vehicle is the amount determined under subsection (3) less any amounts, (a)  that are recovered for loss or damage from bodily injury or death under the third party liability provisions of contracts evidenced by motor vehicle liability policies issued to persons other than a lessor; (b)  that are in respect of the use or operation of the motor vehicle; and (c)  that are in respect of the same incident.  2005, c. 31, Sched. 12, s. 4. Same (2) For the purposes of subsection (1), the amounts referred to in clauses (1) (a), (b) and (c) include only amounts recovered under the coverages referred to in subsections 239 (1) and (3) and section 241 and exclude, (a)  any sum referred to in subsection 265 (1); (b)  any amount payable as damages by the Motor Vehicle Accident Claims Fund under the Motor Vehicle Accident Claims Act; and (c)  any other amounts determined in the manner prescribed by the regulations.  2005, c. 31, Sched. 12, s. 4. Maximum amount (3) The maximum amount for the purposes of subsection (1) is the greatest of, (a)  $1,000,000; (b)  the amount of third party liability insurance required by law to be carried in respect of the motor vehicle; and (c)  the amount determined in the manner prescribed by the regulations, if regulations are made prescribing the manner for determining an amount for the purposes of this clause.  2005, c. 31, Sched. 12, s. 4. Exceptions (4) Subsection (1) does not apply, (a)  in such circumstances as may be prescribed by the regulations or to such persons, classes of persons, motor vehicles or classes of motor vehicles as may be prescribed in the regulations, subject to such terms, conditions, provisions, exclusions and limits as may be prescribed by the regulations; (b)  in respect of amounts payable by a lessor other than by reason of the vicarious liability imposed under section 192 of the Highway Traffic Act; or (c)  in respect of a motor vehicle used as a taxicab, livery vehicle or limousine for hire unless the lessor or lessors of the motor vehicle and the lessee are dealing with each other at arm’s length.  2005, c. 31, Sched. 12, s. 4; 2019, c. 8, Sched. 2, s. 1. Application of subs. (1) (5) Subsection (1) applies only to proceedings for loss or damage from bodily injury or death arising from the use or operation of a motor vehicle on or after the day this section comes into force.  2005, c. 31, Sched. 12, s. 4. Definitions (6) In this section, “lessor” means, in respect of a motor vehicle, a person who is leasing or renting the motor vehicle to another person for any period of time, and “leased” has a corresponding meaning; (“bailleur”) “motor vehicle” has the same meaning as in subsection 1 (1) of the Highway Traffic Act. (“véhicule automobile”)  2005, c. 31, Sched. 12, s. 4. Section Amendments with date in force (d/m/y) 2005, c. 31, Sched. 12, s. 4 - 01/03/2006 2019, c. 8, Sched. 2, s. 1 - 06/06/2019