R.S., c. C-46 Criminal Code 1 The definitions  criminal rate  and  interest  in subsection 347(2) of the  Criminal Code  are replaced by the following: criminal rate  means an effective annual rate of interest on the credit advanced under an agreement or arrangement, calculated in accordance with generally accepted actuarial practices and principles, that,  on the day on which the agreement or arrangement is entered into or renewed , exceeds  by thirty percentage points or more the Bank of Canada’s overnight rate on that day ; ( taux criminel ) interest  means the aggregate of all charges and expenses, whether in the form of a fee, fine, penalty, commission, insurance charge or other similar charge or expense or in any other form, paid or payable for the advancing of credit under an agreement or arrangement, by or on behalf of the person to whom the credit is or is to be advanced, irrespective of the person to whom any such charges and expenses are or are to be paid or payable, but does not include any repayment of credit advanced or any official fee, overdraft charge, required deposit balance or, in the case of a mortgage transaction, any amount required to be paid on account of property taxes; ( intérêt ) 2 Section 347.1 of the Act is repealed.