ONTARIO REGULATION 23/08
made under the
MORTGAGE BROKERAGES, LENDERS AND ADMINISTRATORS ACT, 2006
Made: February 13, 2008
Filed: February 15, 2008
Published on e-Laws: February 15, 2008
Printed in The Ontario Gazette: March 1, 2008
Amending O. Reg. 409/07
(Mortgage Brokers and Agents: Licensing)
Note: Ontario Regulation 409/07 has not previously been amended.
1. Section 3 of Ontario Regulation 409/07 is amended by adding the following subsection:
(2) Subsection (1) does not apply if the individual was required, as a condition of the prior licence, to successfully complete an education program by a specified date and the individual did not do so.
2. Section 6 of the Regulation is amended by adding the following subsection:
(2) Subsection (1) does not apply if the individual was required, as a condition of the prior licence, to successfully complete an education program by a specified date and the individual did not do so.
3. Subsection 7 (1) of the Regulation is amended by striking out “both” in the portion before paragraph 1 and substituting “all”.
4. Section 9 of the Regulation is amended by adding the following subsection:
(2) Despite subsection (1), an individual’s licence cannot be renewed if the individual was required, as a condition of the previous licence, to successfully complete an education program by a specified date and the individual did not do so.
5. Clause 15 (3) (c) of the Regulation is revoked and the following substituted:
(c) if the individual undertakes, as a condition of his or her licence, to successfully complete an approved education program for mortgage agents before July 1, 2009.
6. This Regulation comes into force on March 1, 2008.