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OC 540/2014 - The Trust and Loan Corporations Amendment Regulations, 2014 (Minister of Justice and Attorney General)
Description:

Title: The Trust and Loan Corporations Amendment Regulations, 2014

Minister: Minister of Justice and Attorney General

Summary: On October 31, 2014, these regulations will amend RRS T-22.2 Reg 1 to:

  • require that an application for registration as a loan broker include an email address;
  • require that every applicant for a trust, loan or financing corporation licence provide an email address;
  • increase the annual fee for trust or loan corporations that have total assets of greater than $10 million from $7,500 to $10,000;
  • increase the annual fee for financing corporations that have total assets of greater than $10 million from $7,500 to $8,500;
  • remove a provision that requires a financing corporation to file a statutory declaration that it has maintained the required regulatory capital; and
  • update the language in several provisions to reflect current drafting standards.
See: The Trust and Loan Corporations Act, 1997, section 87





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