ontario regulation 9/20

made under the

Mortgage Brokerages, Lenders and Administrators Act, 2006

Made: January 30, 2020
Filed: February 3, 2020
Published on e-Laws: February 3, 2020
Printed in The Ontario Gazette: February 22, 2020

Amending O. Reg. 409/07

(MORTGAGE BROKERS AND AGENTS: LICENSING)

1. The heading to section 8.1 and section 8.1 of Ontario Regulation 409/07 are revoked and the following substituted:

Expiry of Brokers’ and Agents’ Licences

Expiry date for licences

8.1 (1) In this section,

“annual licensing cycle” means the one-year period that begins on April 1, 2020 and ends on March 31, 2021 and each successive one-year period thereafter.

(2) A mortgage broker’s licence or mortgage agent’s licence that takes effect at the beginning of an annual licensing cycle or at any time during the licensing cycle expires at the end of the licensing cycle.

(3) A mortgage broker’s licence or mortgage agent’s licence that takes effect on or after April 1, 2018 and before April 1, 2020 expires on March 31, 2020.

Commencement

2. This Regulation comes into force on the day it is filed.