Order Designating New Brunswick for the Purposes of the Criminal Interest Rate Provisions of the Criminal Code
P.C. 2017-251 2017-03-24
Whereas New Brunswick has legislative measures that protect recipients of payday loans and that provide for limits on the total cost of borrowing under a payday loan agreement;
And whereas the Lieutenant Governor in Council of New Brunswick has requested that the Governor in Council designate that province for the purposes of section 347.1Footnote a of the Criminal CodeFootnote b;
Therefore, His Excellency the Governor General in Council, on the recommendation of the Minister of Justice and the Minister of Industry, pursuant to subsection 347.1(3)Footnote a of the Criminal CodeFootnote b, makes the annexed Order Designating New Brunswick for the Purposes of the Criminal Interest Rate Provisions of the Criminal Code.
Coming into Force
(a) An Act Respecting Payday Loans, S.N.B. 2008, c. 3; and
(b) Payday Lending Regulation – Cost of Credit Disclosure and Payday Loans Act.
Return to footnote *[Note: Order in force January 1, 2018.]
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