Source: http://www.leg.bc.ca/36th4th/1st_read/gov22-1.htm
Timestamp: 2015-03-31 15:27:47
Document Index: 21447475

Matched Legal Cases: ['art 5', 'art 6', 'art 6', 'art 6', 'art 6', 'art 6', 'art 6', 'art 6', 'art 6', 'art 1', 'art 6']

ATTORNEY GENERAL AND MINISTERRESPONSIBLE FOR HUMAN RIGHTS
"advance" means value received, within the meaning of subsection (2), by the borrower; "APR" means the annual percentage rate calculated in accordance with the regulations; "associate", if used to indicate a relationship with a person, means (a)	a spouse, parent, child, sibling or business partner of the person, or
"cash customer" means a person who buys a product and who provides full payment for the product at or before the time of its receipt; "cash price", in relation to a product, means,
(a)	for a sale to a borrower by a credit grantor, or by an associate of the credit grantor, who sells the product to cash customers in the ordinary course of business, (i)	an amount that fairly represents the price for which the seller sells that product to cash customers, or
(c)	for an advertisement by a credit grantor or an associate of the credit grantor, the price at which the product is currently offered to cash customers or, if the credit grantor or associate of the credit grantor does not currently offer the product to cash customers, the price stated in the advertisement, and, for the purpose of determining the amount advanced under a credit agreement, includes discounts, taxes and any other charges payable by a cash customer; "court" means the Supreme Court or the Provincial Court;
(iv)	a credit card, and (b)	a renewal of an agreement referred to in this definition;
"credit card" means a card or other device that can be used to obtain advances under a credit agreement for open credit; "credit grantor" means, subject to section 56 (2) (b),
and includes a credit card issuer within the meaning of section 37; "credit sale" means a sale of a product in which the purchase is financed by the seller or manufacturer of the product or by an associate of the seller or manufacturer;
"fixed credit" means credit under a credit agreement that is not for open credit; "floating rate" means an interest rate that bears a specified mathematical relationship to an index rate, and includes an interest rate that
(a)	is subject to a minimum or maximum rate, or (b)	is determined at the beginning of a period and applies throughout the period regardless of changes in the index rate during the period;
"high-ratio mortgage" means a mortgage of real property under the security of which is advanced an amount that, when added to amounts advanced under mortgages ranking equally with or in priority to the mortgage, exceeds 75% of the value of the real property; "index rate" means, in relation to a credit agreement, the rate that meets the criteria prescribed by the regulations; "initial disclosure statement" means, in relation to a credit agreement or a lease, the disclosure statement that, under section 6, is required for that credit agreement or lease;
"lessee" means an individual who entered into, or who is negotiating to enter into, a lease if that individual, under that lease, hires or is to hire goods from another party to the agreement; "lessor" means a person who entered into, or who is negotiating to enter into, a lease if that person, under that lease, leases or is to lease goods to another party to the agreement; "loan broker" means, subject to section 56 (2) (b), a person who, for compensation, arranges, negotiates or facilitates an extension of credit; "mortgage loan" means a loan of money secured by an interest in real property, but does not include any such loan that is prescribed by the regulations;
(f)	in the case of a credit sale, any charge that would also be payable by a cash customer; "open credit" means credit under a credit agreement if the credit agreement
"payment" means value given, within the meaning of subsection (4), by a borrower; "payment period" means one of the intervals into which the term of a credit agreement, or the term of a lease within the meaning of section 42 (1), is divided for the purpose of determining the amount of and timing of payments;
"term", other than in Part 5, means, in relation to the duration of a credit agreement, the period between the first advance and the end of the period in respect of which payments are required under the credit agreement; "total cost of credit" means the difference between the value given or to be given, within the meaning of subsection (4), by the borrower in connection with a credit agreement and the value received or to be received, within the meaning of subsection (2), by the borrower in connection with the credit agreement, disregarding the possibility of prepayment or default.
(A)	insurance that protects the credit grantor against default on a high-ratio mortgage, (B)	casualty insurance on the subject matter of a security interest, if the borrower is a beneficiary of the insurance and the insured amount is the full insurable value of the subject matter, and
(iv)	an application fee for insurance referred to in subparagraph (iii) (A); (f)	service provided or to be provided by the credit grantor to maintain a tax account on a high-ratio mortgage, expressed in the amount of a reasonable fee charged for that service, whether the tax account is required in connection with the credit agreement or is requested by the borrower;
(3)	Despite subsection (2), the following do not constitute value received or to be received by a borrower in connection with a credit agreement unless they relate to an optional service, to an expense or service under subsection (2) (e) or (f), or to a thing prescribed for the purposes of subsection (2) (g) that is designated by regulation for the purposes of this subsection: (a)	money paid or to be paid, an expense incurred or to be incurred, or anything done or to be done by the credit grantor for the purpose of arranging, documenting, securing, administering or renewing the credit agreement;
(c)	any other thing prescribed for the purposes of this subsection. (4)	The following constitute value given or to be given by a borrower in connection with a credit agreement: (a)	money transferred or to be transferred from the borrower to the credit grantor in connection with the credit agreement;
2	In this Division: "borrower" includes a lessee; "credit agreement" includes a lease;
(c)	the credit agreement (i)	is entered into by the credit grantor in the ordinary course of carrying on a business, (ii)	is arranged by a loan broker, or
(iii)	is a credit agreement, or is of a class of credit agreements, prescribed by regulation. (2)	Any waiver or release by a person of the person's rights, benefits or protections under this Act or the regulations is void except to the extent that such waiver or release is expressly permitted by this Act.
(a)	a credit agreement that is a lease unless the lease (i)	is for a fixed term of 4 months or more,
(iii)	is a residual obligation lease within the meaning of section 42 (1), (b)	a credit agreement if (i)	the credit grantor is provided with a statement, in the credit agreement or other document, to the effect that the borrower has entered into the credit agreement for primarily business purposes, (ii)	the statement is signed by the borrower, and (iii)	the credit grantor believes in good faith that the statement is true, (c)	a credit sale if (i)	the credit sale agreement requires that the full amount of the sale price for the product will be paid by a single payment within a specified period and does not provide for a schedule of interest payments, or of payments of both principal and interest, to apply if the sale price is not paid within that period,
6	(1)	Subject to subsection (2), a credit grantor who has entered into, or who is negotiating to enter into, a credit agreement with an individual who is the borrower in relation to that agreement must deliver to the borrower a disclosure statement in relation to the credit agreement before the earlier of (a)	the date on which the borrower enters into the credit agreement, and
(2)	A credit grantor who has entered into, or who is negotiating to enter into, a credit agreement to provide a mortgage loan to an individual who is the borrower in relation to that agreement must, subject to subsection (3), deliver a disclosure statement in relation to the credit agreement to the borrower at least 2 business days before the earlier of (a)	the date on which the borrower incurs any obligation to the credit grantor in connection with the mortgage loan, other than an obligation in respect of an expense referred to in section 1 (2) (e) or an expense prescribed by regulations for the purposes of this section, and (b)	the date on which the borrower makes any payment to the credit grantor in connection with the mortgage loan, other than a payment in respect of an expense referred to in section 1 (2) (e) or an expense prescribed by regulations for the purposes of this section. (3)	The borrower under a credit agreement referred to in subsection (2) may waive the time period referred to in that subsection subject to and in accordance with any terms and conditions the Lieutenant Governor in Council may, by regulation, prescribe.
7	If a credit grantor who publishes an advertisement or on whose behalf an advertisement is published is, as a result of disclosing certain information in the advertisement, required under this Act to include other information in the advertisement, the credit grantor must ensure that, (a)	if the information that is required to be included is the APR, the APR is disclosed at least as prominently as is the information that necessitated the inclusion of the APR, and
(b)	any other information that is required to be included is disclosed in a conspicuous manner. Form of disclosure statements and statements of account
(a)	is (i)	in writing, or
(ii)	in any other form, consented to by the borrower, that allows the borrower to retain the record for future reference, (b)	contains the information required under this Act, and
(2)	A disclosure statement or a statement of account may be a separate document or part of another document. Delivery of documents to multiple borrowers
Borrowers entitled to mortgage discharge 13	(1)	Within 30 days after full repayment of a mortgage, the credit grantor must provide to the borrower a registrable discharge of the mortgage in the form and with the content satisfactory to the registrar appointed under the Land Title Act.
(2)	A credit grantor must not charge or accept any amount for or in relation to the provision to the borrower of a discharge of mortgage under subsection (1). Borrowers may cancel optional services
(a)	is not liable for charges relating to any portion of the service that has not been provided at the time of the effective date of the cancellation, and (b)	is entitled to a refund of any amount already paid for those charges.
(4)	A borrower is entitled, on any scheduled payment date, or at least monthly, to prepay less than the full outstanding balance owing under a credit agreement for fixed credit, without any prepayment charge or penalty, but, in that event, is not entitled to a refund or credit of any non-interest finance charges. Default charges
18	(1)	A credit agreement may provide that, when the borrower is in default or in any other circumstance provided by the credit agreement, the credit grantor may accelerate payment by the borrower so as to require repayment of the whole amount outstanding under the credit agreement. (2)	Subject to subsection (4), if the credit agreement contains the provision referred to in subsection (1) and the credit grantor wishes, in a situation described in subsection (1), to accelerate payment by the borrower, the credit grantor must give written notice to the borrower of the credit grantor's intention to accelerate payment.
(3)	The notice referred to in subsection (2) must (a)	be delivered personally to the borrower or be sent to the borrower by registered mail, and (b)	must contain
(iii)	a statement that, unless the default or circumstances described have been remedied within 10 days after the notice was delivered or sent under paragraph (a) of this subsection, the whole amount outstanding under the credit agreement will be due and payable. (4)	The credit grantor must not accelerate payment under this section if
(a)	the credit grantor fails to comply with subsections (2) and (3), or (b)	the default by the borrower is remedied within the period specified under subsection (3) (b) (iii).
(b)	if the borrower pays or is required to pay a brokerage fee, the loan broker must ensure that the initial disclosure statement for the credit agreement (i)	discloses the amount of the brokerage fee, and
(a)	if the credit grantor deducts a brokerage fee from the value received or to be received by the borrower within the meaning of section 1 (2) and (3), the credit grantor must ensure that the initial disclosure statement for the credit agreement (i)	discloses the amount of the brokerage fee, and
(b)	if the loan broker takes a loan application from the borrower and forwards it to the credit grantor, the loan broker must give to the borrower (i)	a disclosure statement containing the information referred to in paragraph (a) of this subsection, and (ii)	any other information that, under this Act, is required to be disclosed in the initial disclosure statement for the credit agreement.
(2)	If the loan broker gives the borrower a disclosure statement under subsection (1) (b), the credit grantor may (a)	adopt that disclosure statement as its own disclosure statement, in which case the credit grantor is jointly and severally liable with the loan broker for the contents of that statement, or (b)	elect to deliver to the borrower a separate disclosure statement containing the information that, under this Act, is required to be disclosed.
22	If this Part applies to a credit sale, the credit grantor must ensure that the credit agreement is a scheduled-payments credit agreement. Division 2 -- Advertising Requirements Applicable to Fixed Credit
23	(1)	This section applies only to advertisements that (a)	offer credit to which this Part applies, and (b)	state the interest rate or amount of any payment.
(2)	A credit grantor must ensure that every advertisement to which this section applies that is published by or on behalf of the credit grantor discloses, in relation to the proposed credit agreement, (a)	the APR, and
(b)	the term. (3)	In addition to complying with subsection (2), the credit grantor to which that subsection applies must ensure that,
(3)	An advertisement to which subsection (1) applies that does not disclose the information required under subsections (1) (b) and (2) is deemed to represent that the transaction is unconditionally interest-free during the relevant period. Division 3 -- Disclosure Required in Relation to Fixed Credit
25	(1)	A credit grantor who has entered into or who is negotiating to enter into a scheduled-payments credit agreement must ensure that the initial disclosure statement for that credit agreement discloses the following information: (a)	the effective date of the statement;
(2)	A credit grantor who has entered into or who is negotiating to enter into a credit agreement that is not a scheduled-payments credit agreement must ensure that the initial disclosure statement for that credit agreement (a)	discloses the information referred to in subsection (1) (a) to (d), (g) to (j), (m) and (p) to (v), and
(i)	discloses the circumstances in which the outstanding balance, or any portion of it, must be paid; (ii)	specifies the provisions of the credit agreement that describe those circumstances.
(a)	the period covered by the statement, which period must run from the date of the disclosure statement most recently delivered to the borrower under this section or section 25; (b)	the annual interest rate at the beginning and end of that period;
(b)	the new annual interest rate and the date the new rate took effect; (c)	the new amount, and timing, of any payments to be made after the date referred to in paragraph (b).
27	(1)	In addition to any other documents that the credit grantor must deliver under this Act to the borrower, the credit grantor must deliver to the borrower a notice in writing in accordance with subsection (2) of this subsection if (a)	the outstanding principal on a scheduled-payments credit agreement increases, as a result of
(ii)	the imposition of a default charge, and (b)	as a result of the increases in outstanding principal, the total amount of the payments the borrower is scheduled to make over a payment period does not cover the interest that will accrue during that payment period.
(2)	A notice under subsection (1) (a)	must be delivered to the borrower, within 30 days after the most recently missed or late payment or default charge imposed, as the case may be, and
(iii)	what the total outstanding balance will be at the end of the term if the amount of subsequent scheduled payments is not adjusted. Disclosure regarding amendments
(2)	A credit grantor who is willing to renew a mortgage must include, with the notice referred to in subsection (1), a disclosure statement, based on the assumption that the borrower will make all payments that are due under the current mortgage, that includes the following information respecting the renewed mortgage: (a)	the effective date;
(b)	the outstanding balance of the mortgage loan as of the effective date; (c)	any non-interest finance charges that are payable under or in connection with the renewed mortgage;
(d)	the length of the term; (e)	the relevant interest rate information referred to in section 25 (1) (h) or (i);
(h)	the total of all payments to be made under or in connection with the renewed mortgage; (i)	the total cost of credit;
(c)	if the borrower pays the outstanding balance of the mortgage loan in accordance with paragraph (b), the credit grantor must refund to the borrower any non-interest finance charges imposed in connection with the renewal. (4)	Subsection (3) does not apply if (a)	a credit grantor delivers to the borrower a disclosure statement in relation to the renewed mortgage at least 21 days before the effective date of the renewed mortgage, and
32	A credit grantor must ensure that every advertisement that is published by or on behalf of the credit grantor and that gives specific information about the cost of open credit must, (a)	if the open credit is not associated with a credit card, disclose the APR for the open credit, or
(3)	An advertisement to which subsection (1) applies that does not disclose the information required under subsections (1) (b) and (2) is deemed to represent that the transaction is unconditionally interest-free during the relevant period. Division 3 -- Disclosure Required in Relation to Open Credit
(c)	the minimum periodic payment or the method of determining the minimum periodic payment; (d)	the initial annual interest rate and the compounding period;
(f)	when interest begins to accrue on advances or different types of advances and information concerning any grace period; (g)	the nature of any non-interest finance charges that may become payable by the borrower under the credit agreement and the amount, or the method of determining the amount, of those charges; (h)	for open credit that is not associated with a credit card, the APR;
(2)	Despite subsection (1), (a)	the credit limit referred to in subsection (1) (b) may be disclosed
(i)	in the initial disclosure statement, (ii)	in the first statement of account delivered to the borrower, or
(i)	information about the nature and amount of charges for any optional service referred to in subsection (1) (i); (ii)	information that relates to a specific transaction under the credit agreement.
(d)	the posting date, and amount of each payment or credit subtracted from the outstanding balance during the statement period; (e)	the annual interest rate or rates in effect during the statement period or any part of that period;
(d)	the nature and amount of any non-interest finance charges that are payable or may become payable by the cardholder; (e)	the date as of which the information referred to in paragraphs (a) to (d) is in effect. (2)	Instead of disclosing the information required by subsection (1), the application form may disclose a telephone number that the cardholder can use to obtain that information during the credit card issuer's ordinary business hours and without incurring any charges for the call, and the credit card issuer must ensure that that information is available at that number during those hours. (3)	Despite subsection (2), if an individual applies for a credit card in person, by telephone or by any electronic means, the credit card issuer must disclose the information referred to in subsection (1) when the individual makes the application.
(5)	Nothing in this section relieves the credit card issuer from the requirement to deliver a disclosure statement in accordance with sections 6 and 34. Additional disclosure for credit cards
(a)	in the case of a change to the following information, in the next statement of account following the change in information or in a document that is given to the cardholder with the next statement of account: (i)	a change in the credit limit;
(iii)	an increase in the length of an interest-free period or grace period; (iv)	a change in a floating interest rate, or
(a)	if the lessor sells like goods to cash customers in the ordinary course of carrying on business, (i)	a value that fairly represents the price for which the lessor sells those goods to cash customers, or
(b)	if the lessor does not sell like goods to cash customers in the ordinary course of carrying on business, (i)	the lessor's reasonable estimate of the price at which cash customers would buy those goods, or
"implicit finance charge" means the amount determined, in connection with a lease, by (a)	adding (i)	all non-refundable payments required to be made by the lessee at or before the beginning of, or during, the term, and
"realizable value" has the meaning prescribed by the regulations; "residual obligation lease" means a lease under which, subject to section 46, the lessee may be required at the end of the lease term to pay the lessor an amount based wholly or partly on the difference, if any, between the estimated residual value and the realizable value of the leased goods;
(c)	is a residual obligation lease. Advertising requirements applicable to leases
(f)	the nature and amount of any other advance received, and of each charge incurred, by the lessee in connection with the lease at or before the beginning of the term; (g)	the nature and amount of each payment made by the lessee at or before the beginning of the term;
(a)	the estimated residual cash payment; (b)	the estimated residual value less the realizable value of the leased goods. Part 6 -- Compliance and Offences
"borrower" includes a lessee; "credit agreement" includes a lease;
48	Despite any agreement to the contrary, if a borrower makes a payment to a credit grantor that the credit grantor is not entitled to receive, the credit grantor must (a)	refund the payment to the borrower, or
50	(1)	Sections 63 to 74 and 76 of the Consumer Protection Act apply to this Act, and for that purpose, (a)	a reference to "director" in those sections, as they apply for the purposes of this Act, and in subsection (2) of this section has the same meaning as in that Act, and
(a)	a contravention of this Act or the regulations by a credit grantor is an excusable error if (i)	the credit grantor had a compliance procedure when the contravention occurred,
(b)	a credit grantor is considered to have a compliance procedure if the credit grantor (i)	requires its employees and agents to follow procedures, or has implemented automated procedures, designed to ensure compliance with this Act and the regulations and, in particular, to ensure that borrowers receive the information to which they are entitled at the time and in the form required by this Act and the regulations, and
(3)	Subject to subsections (4) and (5), the statutory damages for a contravention of this Act or the regulations referred to in subsection (2) are the lesser of (a)	$500, and (b)	5% of whichever of the following is applicable:
(4)	If a contravention of this Act or the regulations relates to a statement of account for open credit, the statutory damages are equal to the sum of (a)	the interest for the period covered by the statement of account, and (b)	any non-interest finance charges for the period covered by the statement of account. (5)	The court may reduce the statutory damages to which a borrower would otherwise be entitled under this section if the court is satisfied, in view of all the circumstances, including any undertakings as to future compliance with this Act and the regulations that are given by the credit grantor, that it would be just and equitable to do so.
(b)	prescribing, in relation to circumstances in which there are more than one credit grantor or more than one loan broker, which member of that class
constitutes the credit grantor or the loan broker, as the case may be, for the purposes of this Act or of one or more specified provisions of this Act;
(iii)	any other matter that under this Act is to be determined by a calculation if this Act does not specify the manner of that calculation; (d)	respecting the criteria to be used in determining what constitutes an index rate; (e)	prescribing those loans of money secured by an interest in real property that do not constitute mortgage loans for the purposes of section 1;
(f)	prescribing credit agreements, or classes of credit agreements, to which this Act applies for the purposes of section 3 (c) (iii); (g)	prescribing credit agreements, or classes of credit agreements, to which this Act does not apply for the purposes of section 4 (d); (h)	respecting the form and manner in which information required to be disclosed under this Act, including information that is required under this Act to be disclosed in an advertisement, must be disclosed;
(n)	prescribing expenses for the purposes of section 6 (2) (a) or (b); (o)	respecting terms and conditions on which an individual may waive the time period referred to in section 6 (3);
(r)	respecting the form, contents and manner in which information or records may be disclosed or delivered under this Act and the regulations and, for any manner of delivery prescribed, prescribing the time on which a record delivered in accordance with that manner is deemed to be received by the person to whom it is delivered; (s)	requiring credit grantors or loan brokers or one or more classes of credit grantors or loan brokers to retain one or more records required under this Act for a specified period and prescribing when, how and to whom those records must be made available for examination, extracts and copying;
Consumer Protection Act 58 Section 1 of the Consumer Protection Act, R.S.B.C. 1996, c. 69, is amended by repealing the definition of
"credit card".
59 Section 10 (5) is amended by striking out ", except for a lender's failure of the type described in section 50 (1) (a) or
(b),".
61 Section 75 (1) (a) is amended by striking out "41, 42, 45, 48 (2) or (3), 49
63 Sections 10, insofar as it enacts section 15.1 of the Mortgage Brokers Act, and 12 to 14 of the
Finance and Corporate Relations Statutes Amendment Act, 1998, S.B.C. 1998, c. 7, are repealed.
64 Section 244 (2) (a) and (c) of the Financial Institutions Act, R.S.B.C. 1996, c. 141, is amended by adding ", a provision of the Cost of Consumer Credit Disclosure Act that is prescribed under section 244.1"
after "the regulations".
(a)	identify certain rights and powers, including rights and powers relative to investigations, inquiries and enforcement, and rights and powers to impose enforcement remedies and penalties, that may be exercised by the superintendent or the director under one or more of this Act, the Cost of Consumer Credit Disclosure Act and Part 6 of the Consumer Protection Act, (b)	prescribe which of those rights and powers, if any, may be exercised by the superintendent, and which of those rights and powers, if any, may be exercised by the director, relative to a prescribed provision of the Cost of Consumer Credit Disclosure Act, and
(c)	apply, in whole or in part, one or more provisions of this Act, the Cost of Consumer Credit Disclosure Act and Part 6 of the Consumer Protection Act to any exercise by the superintendent or the director of a right or power that the superintendent or the director, respectively, would not, without the regulation referred to in paragraph (b) of this subsection, otherwise be entitled to exercise. (4)	If the Lieutenant Governor in Council makes a regulation under subsection (2), (a)	the superintendent and the director each have and may exercise, in relation to the prescribed provisions of the Cost of Consumer Credit Disclosure Act, the rights and powers, if any, respectively prescribed for them under subsection (3) and, without limiting this, the rights and powers of the superintendent under sections 244, 246 and 248 to 251 are available to be exercised by the superintendent or the director, as the case may be, in relation to any person who contravenes a prescribed provision of the Cost of Consumer Credit Disclosure Act, and (b)	Part 6 of the Cost of Consumer Credit Disclosure Act applies in respect of the contravention.
(3)	A regulation under subsection (2) may also (a)	identify certain rights and powers, including rights and powers relative to investigations, inquiries and enforcement, and rights and powers to impose enforcement remedies and penalties, that may be exercised by the registrar or the director under one or more of this Act, the Cost of Consumer Credit Disclosure Act and Part 6 of the Consumer Protection Act, (b)	prescribe which of those rights and powers, if any, may be exercised by the registrar, and which of those rights and powers, if any, may be exercised by the director, relative to a prescribed provision of the Cost of Consumer Credit Disclosure Act, and
(c)	apply, in whole or in part, one or more provisions of this Act, the Cost of Consumer Credit Disclosure Act and Part 6 of the Consumer Protection Act to any exercise by the registrar or the director of a right or power that the registrar or director, respectively, would not, without the regulation referred to in paragraph (b) of this subsection, otherwise be entitled to exercise. (4)	If the Lieutenant Governor in Council makes a regulation under subsection (2), (a)	the registrar and the director each have and may exercise, in relation to the prescribed provisions of the Cost of Consumer Credit Disclosure Act, the rights and powers, if any, respectively prescribed for them under subsection (3) and, without limiting this, the rights and powers of the registrar under sections 8 and 8.1 of this Act are available to be exercised by the registrar or the director, as the case may be, in relation to any person, registered under this Act, who contravenes a prescribed provision of the Cost of Consumer Credit Disclosure Act, and (b)	Part 6 of the Cost of Consumer Credit Disclosure Act applies in respect of the contravention.
72 Section 15.2 (a), as enacted by section 10 of the Finance and Corporate Relations Statutes Amendment Act, 1998, S.B.C. 1998, c. 7, as that section 10 was amended by section 15 of the
Miscellaneous Statutes Amendment Act (No. 3), 1999, S.B.C. 1999, c. 39, is amended by striking out
"16,".
75 Section 22 (1), as re-enacted by section 17 (a) of the Finance and Corporate Relations Statutes Amendment Act, 1998, S.B.C. 1998, c. 7, as that section 17 (a) was amended by section 18 of the Miscellaneous Statutes Amendment Act (No. 3), 1999, S.B.C. 1999, c. 39, is amended (a)	in paragraph (a) by striking out "16 (1),", and
(b)	in paragraph (b, by striking out "15.1 (2) or (3), 16 (3.2),
16.1,".
76 Section 23 (2) (h), as re-enacted by section 18 (b) of the Finance and Corporate Relations Statutes Amendment Act, 1998, S.B.C. 1998, c. 7, as that section 18 (b) was amended by section 19 of the
Miscellaneous Statutes Amendment Act (No. 3), 1999, S.B.C. 1999, c. 39, is amended by striking out "sections 16, 17.3 and 17.4, notices under section 16,"
and substituting "sections 17.3 and 17.4,".
77 Section 23 (2) (h.1), as enacted by section 18 (b) of the Finance and Corporate Relations Statutes Amendment Act, 1998, S.B.C. 1998, c. 7, as that section 18 (b) was amended by section 19 of the
(a)	identify certain rights and powers, including rights and powers relative to investigations, inquiries and enforcement, and rights and powers to impose enforcement remedies and penalties, that may be exercised by the registrar or the director under one or more of this Act, the Cost of Consumer Credit Disclosure Act and Part 6 of the Consumer Protection Act, (b)	prescribe which of those rights and powers, if any, may be exercised by the registrar, and which of those rights and powers, if any, may be exercised by the director, relative to a prescribed provision of the Cost of Consumer Credit Disclosure Act, and
(4)	If the Lieutenant Governor in Council makes a regulation under subsection (2), (a)	the registrar and the director each have and may exercise, in relation to the prescribed provisions of the Cost of Consumer Credit Disclosure Act, the rights and powers, if any, respectively prescribed for them under subsection (3) of this section, (b)	contravention of a prescribed provision of the Cost of Consumer Credit Disclosure Act by a person is grounds for the registrar or the director, as the case may be, to determine that it is not in the public interest for the person to be registered or continue to be registered under this Act and, without limiting paragraph (a) of this subsection, the rights and powers of the registrar under Part 1 of this Act that may be exercised in the event of that determination are available to be exercised by the registrar or the director, as the case may be, and (c)	Part 6 of the Cost of Consumer Credit Disclosure Act applies in respect of the contravention.