Document ID: chunk:federal_register_of_legislation:F2024C00882:reg:92
Version: federal_register_of_legislation:F2024C00882
Segment Type: reg
Provision Reference: reg 92
Character Range: 359344–360268

92  Rebate of consideration
  For subsection 136(4) of the Code, the proportionate rebate of consideration is calculated using the formula:

where:
C is the amount of the charges under the maintenance services contract financed under the credit contract.
S is the number of whole months in the unexpired portion of the period for which maintenance was agreed to be provided.
T is the number of whole months for which maintenance was agreed to be provided.
Note 1: Subsection 136(1) of the Code provides that, if a debtor terminates a linked maintenance services contract because of the termination of the credit contract, the debtor is entitled to a proportionate rebate of consideration under the maintenance services contract.
Note 2: Subsection 136(4) of the Code provides that the regulations may prescribe the manner of calculating that proportionate rebate of consideration.

Part 7‑7—Related insurance contracts