Order to pay indemnity
32. (1) Where an assignor of a negotiable instrument is convicted of a contravention of section 30, the Ontario Court of Justice making the conviction may order that the person convicted is liable to indemnify the maker under subsection 30 (3). R.S.O. 1990, c. C.31, s. 32 (1); 2001, c. 9, Sched. D, s. 4 (3). Filing indemnity order in court (2) Where an indemnity order is made under subsection (1) in favour of a person who is or becomes liable under a judgment of a court to an assignee of the negotiable instrument in respect of which the indemnity order was made, the person entitled to the indemnity may file the indemnity order in the court office of the court in which the judgment was issued. R.S.O. 1990, c. C.31, s. 32 (2). Default judgment (3) Upon the filing of the indemnity order, the local registrar or clerk of the court shall issue a default judgment in favour of the person entitled to the indemnity and against the person required by the indemnity order to give the indemnity, and the amount of the default judgment shall be the amount of the judgment referred to in subsection (1) and costs together with the costs of issuing the default judgment, or such less amount as the person entitled to the indemnity by requisition requests. R.S.O. 1990, c. C.31, s. 32 (3). Setting aside or variation of default judgment (4) Upon application therefor, the court in which the default judgment is issued may set aside the default judgment or may determine the amount of the indemnity or make an order of reference for the purpose and may vary the amount of the default judgment. R.S.O. 1990, c. C.31, s. 32 (4). Note: On a day to be named by proclamation of the Lieutenant Governor, the Act is amended by the Statutes of Ontario, 1999, chapter 12, Schedule F, section 18 by adding the following Part: PART III.1   LEASES Application of Part 32.1 This Part does not apply to a lease unless it is, (a) a lease for a fixed term of four months or more; (b) a lease for an indefinite term or that is renewed automatically until one of the parties takes positive steps to terminate it; or (c) a residual obligation lease. Advertising 32.2 No lessor shall make representations or cause representations to be made about the cost of a lease of the lessor, whether orally, in writing or in any other form, unless the representations include the information prescribed by the regulations. Initial disclosure statement 32.3 (1) Every lessor shall deliver an initial disclosure statement for a lease to the lessee before the earlier of, (a) the time that the lessee enters into the lease; and (b) the time that the lessee makes any payment in connection with the lease. Form of statement (2) The initial disclosure statement shall, (a) be in writing or in a form to which the lessee consents; and (b) express the information contained in it clearly, concisely and prominently. Contents of statement (3) The initial disclosure statement for a lease shall contain, (a) a statement that the transaction is a lease; (b) a description of the leased goods and their value determined in accordance with the regulations; (c) the lease term; (d) the lessor’s reasonable estimate of the wholesale value of the leased goods at the end of the lease term; (e) the total amount, calculated in accordance with the regulations, of all payments that the lessee is required to make under the lease; (f) the particulars about the amount and timing of all payments under the lease as is prescribed by the regulations; (g) the APR under the lease; and (h) all other information about the lease that is prescribed by the regulations. Residual obligation lease 32.4 The maximum liability of the lessee at the end of the term of a residual obligation lease after returning the leased goods to the lessor shall be the amount calculated in accordance with the regulations. See: 1999, c. 12, Sched. F, ss. 18, 45 (2). PART IV   GENERAL