8A (1) A payday loan provider that gives, organizes or provides Web payday advances must show in the payday lender’s website an observe that offers the information required by subsections 8(3) and (4) presented in an obvious and understandable way in a colour obviously contrasting using the back ground.

(2) The notice described in subsection (1) must certanly be made visually noticeable to borrowers

(a) at or close to the the top of page that is introductory of internet site for borrowers in Nova Scotia; and

(b) in a place on the site which comes prior to the cash advance application.

Part 8A included: O.I.C. 2012-115, N.S. Reg. 87/2012.

Payday loan provider must show license

8B a lender that is payday prominently show its license in the location specified in its license from where the payday loan provider offers, organizes or provides pay day loans.

Part 8B included: O.I.C. 2012-115, N.S. Reg. 87/2012.

Payday loan provider of Web payday advances must show license information

8C A payday lender that offers, arranges or provides online payday advances must prominently show all the after license information at or nearby the the top of basic web web web page associated with the payday lender’s site for borrowers in Nova Scotia:

(a) the business enterprise name or design as specified within the license;

(b) the license quantity;

(c) the license expiration date.

Part 8C added: O.I.C. 2012-115, N.S. Reg. 87/2012.

Disclosures to borrower

9 (1) the info needed by clauses 18I(a) to (j) for the Act together with after information must certanly be given by the payday lender to a debtor within the loan contract each time a payday lender provides a debtor funds or usage of funds under a loan that is payday

(a) all of this information that is following the payday lender and any representative associated with loan provider representing the payday loan provider to your borrower:

(ii) company target,

(iii) mailing target,

(iv) cell phone number,

(vi) email target;

(b) the borrower’s title and target;

(c) the date that the advance is manufactured or a money card is supplied;

(d) the total amount of the advance;

( ag e) the definition of associated with loan;

(f) the date upon which payment is born or, if paid back by installments, the times on which re re payments are due;

(g) an itemization of all of the charges, fees, commissions, interest, charges and just about every other add up to be compensated or that may be compensated by the debtor;

(h) a declaration regarding the borrower’s straight to get a duplicate regarding the loan contract through the loan provider whenever you want upon demand;

(i) if your money card is given up to a debtor, the conditions and terms associated with the money card, including most of the after:

(i) the quantity of credit available in the cash card,

(ii) any date the money card expires,

(iii) that fees by a 3rd party may make an application for with the money card at places apart from the lender that is payday.

(2) The content associated with loan contract needed by clause 18I(l) associated with Act must certanly be finalized by both the debtor therefore the loan provider.

(3) A payday loan provider must definitely provide a borrower that is prospective the expense of borrowing, that can need just that the debtor give their title in substitution for the details.

9A (1) A payday loan provider must consist of all the after with its pay day loan advertisements:

(a) the sum total expense of borrowing for a quick payday loan, expressed in bucks and cents per $100 for a 14-day loan;

(b) the statement “Payday Loans are High-Cost Loans”.

(2) The information needed by clauses (1)(a) and b that is( must certanly be presented at the very lesincet as prominently as some other representation in an ad plus in exactly the same way as other representations are formulated, whether aesthetically or aurally or both.

Section 9A included: O.I.C. 2011-369, N.S. Reg. 288/2011.

Kind for written notice of termination needs to be fond of debtor

10 whenever a payday loan provider provides debtor funds or use of funds under a pay day loan, the payday lender must supply the debtor the shape submitted under clause 5(1)(b) for the debtor to make use of to inform the lending company on paper of termination associated with the loan.

Part 10 amended: O.I.C. 2012-115, N.S. Reg. 87/2012.

Balance staying on money cards

11 (1) during the demand for the debtor, the total amount staying on a money card, regardless of if expired, needs to be used towards repaying the pay day loan.

(2) When a quick payday loan is paid back, a borrower is eligible to get any amount staying in the money card through the lender that is payday set online payday MI up money card has expired.

Guidelines for whenever payment by pre-authorized debit dishonoured

12 the guidelines associated with the Canadian Payments Association for rejected deals apply when an effort to acquire payment by pre-authorized debit is dishonoured.

One type of payment just

13 A payday loan provider should never require significantly more than 1 type of payment from the debtor.

Borrower should not be necessary to repay loan sooner than borrower’s payday

14 (1) A payday loan provider should never set the deadline for repaying a quick payday loan any previous than the borrower’s payday that is next.

(2) In subsection (1), “the borrower’s next payday” means the day that is next the borrower’s regular wages, settlement or any other earnings, including work earnings, earnings help, jobless insurance coverage or other earnings guarantee, is compensated into the debtor.

Receipts for payment of loan

15 (1) A receipt granted by way of a payday lender under Section 18M associated with Act should be in duplicate so are there copies for both the loan provider while the debtor.

(2) utilizing the borrower’s permission, the borrower’s bank documents fulfill the dependence on a payday lender to issue a receipt under Section 18M associated with Act for almost any kind of payment of a quick payday loan aside from payment in money.

Wage projects maybe not utilized to facilitate loans

16 A payday loan provider should never request or accept a wage project, or a project of every other form of earnings, to facilitate repaying a loan that is payday.

Future payments not to ever go beyond amount that is total of

17 A payday loan provider should never need a debtor to deliver pre-authorized debits or future payments of an equivalent nature for a quantity more than the total amount required to repay the cash advance from the deadline.

Fees a part of price of borrowing