O. Reg. 412/07: REPORTING REQUIREMENTS FOR LICENSEES, Filed July 27, 2007 under Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c. 29

ONTARIO REGULATION 412/07

made under the

MORTGAGE BROKERAGES, LENDERS AND ADMINISTRATORS ACT, 2006

Made: July 25, 2007
Filed: July 27, 2007
Published on e-Laws: July 31, 2007
Printed in The Ontario Gazette: August 11, 2007

REPORTING REQUIREMENTS FOR LICENSEES

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.

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.

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.

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.

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.

(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.

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.

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.

(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.

Commencement

8. (1) Subject to subsection (2), this Regulation comes into force on March 1, 2008.

(2) Section 4 comes into force on July 1, 2008.