Cost of Borrowing (Retail Associations) Regulations

13 (1) Subject to subsection (2), if a credit agreement is amended by a subsequent agreement, the retail association must, in writing and at most 30 days after entering into the subsequent agreement, disclose to the borrower the changes to the information required to be disclosed in the initial statement.

(2) If a credit agreement for a fixed amount has a schedule for instalment payments and the schedule is amended by a subsequent agreement, the retail association must, in writing and at most 30 days after entering into the subsequent agreement, disclose to the borrower the new payment schedule and any increase in the total amount to be paid or the cost of borrowing.