Part 9 — Cost of Credit Disclosure Division 1 Interpretation and Application
72 Credit Arranged by Loan Brokers Non-business credit grantors
agreement involving a credit grantor who does not enter into the
credit agreement in the course of carrying on a business.
(2) Any provision of this Part or the regulations that imposes a
duty on a credit grantor is to be read as imposing the duty on the
loan broker, rather than on the credit grantor.
(3) Where the borrower pays or is liable to pay a brokerage fee, the
initial disclosure statement for the credit agreement must
(a) disclose the amount o f the brokerage fee, and
(b) account for the brokerage f ee in the APR and the total cost
of credit.
1998 cF-1.05 s72