Whereas British Columbia 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 British Columbia has requested that the Governor in Council designate that province for the purposes of section 347.1 a of the Criminal Code b; S.C. 2007, c. 9, s. 2 R.S., c. C-46
Therefore, Her 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) a of the Criminal Code b, hereby makes the annexed Order Designating British Columbia for the Purposes of the Criminal Interest Rate Provisions of the Criminal Code.
Province Designated
British Columbia is designated for the purposes of section 347.1 of the Criminal Code.
Coming into Force
This Order comes into force at 12:00 a.m., Pacific time or — in that part of the province in the Mountain time zone — Mountain time, on the first day on which all of the following are in force:[Note: Order in force November 1, 2009.]
the Business Practices and Consumer Protection (Payday Loans) Amendment Act, 2007, S.B.C. 2007, c. 35, except for the following:
sections 112.12 to 112.15 of the Business Practices and Consumer Protection Act, S.B.C. 2004, c. 2, as enacted by section 4,
sections 5 and 6, and
paragraph 189(4)(f.6) of the Business Practices and Consumer Protection Act, S.B.C. 2004, c. 2, as enacted by section 8;
sections 5.1 and 7.3 of the Business Practices and Consumer Protection Regulation, B.C. Reg. 294/2004, as enacted by B.C. Reg. 57/2009; and
the Payday Loans Regulation, as enacted by B.C. Reg. 57/2009.