Credit Business Practices (Trust and Loan Companies, Retail Associations, Canadian Insurance Companies and Foreign Insurance Companies) Regulations
1 The following definitions apply in these Regulations.
- borrower
borrower means a person who holds a credit card or has applied to an institution to become a holder of a credit card. (emprunteur)
- credit agreement
credit agreement includes an agreement for a line of credit, a credit card or any kind of loan. (convention de crédit)
- credit card
credit card means a credit card issued to a natural person other than for business purposes. (carte de crédit)
- debtor
debtor means a natural person who has entered into a credit agreement with an institution other than for business purposes and who owes a debt to that institution. (débiteur)
- institution
institution means any of the following:
(a) a bank, as defined in section 2 of the Bank Act;
(b) an authorized foreign bank, as defined in section 2 of the Bank Act;
(c) a retail association, as defined in section 2 of the Cooperative Credit Associations Act;
(d) a company, as defined in subsection 2(1) of the Insurance Companies Act;
(e) a foreign company, as defined in subsection 2(1) of the Insurance Companies Act;
(f) a company, as defined in section 2 of the Trust and Loan Companies Act. (institution)
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