(a) is licensed as financing broker and, at the mercy of part 17, has gotten notice on paper through the Registrar of this licence; or
(b) is viewed as become certified under area 18. 2008, c. 9, s. 6 (2).
(3) If a loan provider that is perhaps perhaps perhaps not certified enters right into a loan that is payday having a debtor, the debtor is needed to repay the advance to your loan provider and it is perhaps perhaps not prone to spend the expense of borrowing. 2008, c. 9, s. 6 (3).
Transactions between loan providers and loan agents
7 (1) For the purposes for this Act, no loan provider shall cope with or through that loan broker who’s perhaps perhaps perhaps not certified. 2008, c. 9, s. 7 (1).
(2) For the purposes for this Act, no loan broker shall handle or via a loan provider who’s maybe maybe not certified. 2008, c. 9, s. 7 (2).
Improvement in partnership
8 a modification of the account of a partnership is regarded as to create a partnership that is new the goal of a licence. 2008, c. 9, s. 8.
No right to hearing
9 (1) If a job candidate for a licence or renewal of a licence doesn’t meet up with the prescribed requirements, the Registrar shall will not issue or restore the licence, once the instance can be. 2008, c. 9, s. 9 (1).
(2) part 13 will not connect with a refusal under subsection (1) to issue or restore a licence. 2008, c. 9, s. 9 (2).
Notice of refusal
(3) The Registrar shall supply the applicant written notice of the refusal under subsection (1), establishing out of the grounds for the refusal. 2008, c. 9, s. 9 (3).