O. Reg. 412/07: REPORTING REQUIREMENTS FOR LICENSEES

Mortgage Brokerages, Lenders and Administrators Act, 2006
Loi de 2006 sur les maisons de courtage d’hypothèques, les prêteurs hypothécaires et les administrateurs d’hypothèques

ONTARIO REGULATION 412/07

REPORTING REQUIREMENTS FOR LICENSEES

Note: This Regulation was revoked on June 6, 2008. See: O. Reg. 193/08, ss. 16, 17 (1).

Last amendment: O. Reg. 193/08.

This Regulation is made in English only.

Change of address for service

1. If a licensee changes the licensee’s mailing address in Ontario, the licensee shall give the Superintendent particulars of the new address no later than five days after the change occurs. O. Reg. 412/07, s. 1.

Change of other contact information

2. If a brokerage or mortgage administrator changes its email address, phone number or fax number, the brokerage or mortgage administrator shall give the Superintendent particulars of the new address or number no later than five days after the change occurs. O. Reg. 412/07, s. 2.

Change of principal place of business

3. If a brokerage or mortgage administrator changes the location of its principal place of business in Ontario, the brokerage or mortgage administrator shall notify the Superintendent no later than five days after the change occurs. O. Reg. 412/07, s. 3.

Change of offices open to the public

4. If a brokerage or mortgage administrator opens or closes an office in Ontario that is open to the public, the brokerage or mortgage administrator shall notify the Superintendent no later than five days after doing so. O. Reg. 412/07, s. 4.

Note: On July 1, 2008, section 4 comes into force. See: O. Reg. 412/07, s. 8 (2).

Change of director, officer, partner

5. (1) If a licensee that is a corporation changes one or more of its directors or officers, the licensee shall notify the Superintendent no later than five days after the change occurs. O. Reg. 412/07, s. 5 (1).

(2) If a licensee that is a partnership changes one or more of its partners, the licensee shall notify the Superintendent no later than five days after the change occurs. O. Reg. 412/07, s. 5 (2).

Change of principal broker

6. If a brokerage changes its principal broker, the brokerage shall notify the Superintendent no later than five days after the change occurs. O. Reg. 412/07, s. 6.

Change of authority to act on behalf of brokerage

7. (1) If a mortgage broker or agent ceases to be authorized to deal or trade in mortgages on behalf of a brokerage, the brokerage shall notify the Superintendent no later than five days after the authority ceases. O. Reg. 412/07, s. 7 (1).

(2) A mortgage broker or agent who ceases to be authorized to deal or trade in mortgages on behalf of a brokerage shall notify the Superintendent no later than five days after the authority ceases. O. Reg. 412/07, s. 7 (2).

8. Omitted (provides for coming into force of provisions of this Regulation). O. Reg. 412/07, s. 8.