Subsection (1) ceases to apply	(2) Subsection (1) ceases to apply in respect of a person
	(a) where the person contravened subsection 375(1), when the shares to which the contravention relates have been disposed of;
	(b) where the person contravened section 375.1, when the person ceases to control the company within the meaning of paragraph 3(1)(d); and
	(c) where the person failed to comply with an undertaking referred to in subsection 384(2), when the company complies with section 379.
	375. (1) Paragraph 410(1)(b) of the Act is replaced by the following:
	(b) hold, manage and otherwise deal with real property;
	(2) Subsection 410(1) of the Act is amended by adding the following after paragraph (c):
	(c.1) in Canada, engage in the activities in which an information services corporation, within the meaning of subsection 449(1), may engage, if before engaging in those activities the company obtains the Minister's written approval for it to engage in those activities;
	(3) Subsection 410(1) of the Act is amended by adding the following after paragraph (d):
	(d.1) engage in the activities in which a specialized financing corporation, as defined in subsection 449(1), may engage, if before engaging in those activities the company obtains the Minister's written approval for it to engage in those activities;
	(4) Paragraphs 410(3)(a) and (b) of the Act are replaced by the following:
	(a) respecting what a company may or may not do with respect to the carrying on of the activities referred to in paragraphs (1)(c), (c.1) and (d.1) ; and
	(b) imposing terms and conditions in respect of the provision of the services referred to in paragraphs (1)(a) and 409(2)(c) and the carrying on of the activities referred to in paragraphs (1)(c), (c.1) and (d.1) .
	376. Subsection 414(2) of the Act is replaced by the following:
Exception	(2) Paragraph (1)(a) does not apply where the person on whose behalf the company has undertaken to guarantee a payment or repayment is a subsidiary of the company.
	377. Subsection 418(2) of the Act is amended by striking out the word ``or'' at the end of paragraph (b), by adding the word ``or'' at the end of paragraph (c) and by adding the following after paragraph (c):
	(d) a loan secured by a mortgage where
	(i) the mortgage is taken back by the company on a property disposed of by the company, including where the disposition is by way of a realization of a security interest, and
	(ii) the mortgage secures payment of an amount payable to the company for the property.
	378. Section 431 of the Act is replaced by the following:
Disclosure required on opening a deposit account	431. (1) Subject to subsection (2), a company shall not open a deposit account in the name of a customer unless, at the time the account is opened, the company provides the individual who requests the opening of the account with
	(a) a copy of the account agreement with the company ;
	(b) information about all charges applicable to the account;
	(c) information about how the customer will be notified of any increase in those charges and of any new charges applicable to the account;
	(d) information about the company's procedures relating to complaints about the application of any charge applicable to the account; and
	(e) such other information as may be prescribed.
Exception	(2) Where a deposit account is not a personal deposit account and the amount of a charge applicable to the account cannot be established at the time the account is opened, the company shall, as soon as is practicable after the amount is established, provide the customer in whose name the account is kept with a notice of the amount of the charge.
Manner of providing information	(3) The agreement or information to be provided under subsection (1) or (2) shall be provided in writing or in such manner as may be prescribed.
Information can be obtained in writing	(4) Whether or not the manner of providing the agreement or information is prescribed under subsection (3), the manner of providing the agreement or information to the individual shall be to provide it in writing if, at the time the account is opened, the individual requests the company to provide it in writing.
Individual to be informed	(5) At the time the account is opened, the company shall inform the individual that the agreement and the information will be provided in writing at the individual's request.
	379. Sections 435 and 436 of the Act are replaced by the following:
Definition of ``cost of borrowing''	435. For the purposes of this section and sections 435.1 to 442, ``cost of borrowing'' means, in respect of a loan made by a company,
	(a) the interest or discount applicable to the loan; and
	(b) such charges in connection with the loan as are payable by the borrower to the company, or to any person from whom the company receives any charges directly or indirectly, and as are prescribed to be included in the cost of borrowing.
	For those purposes, however, ``cost of borrowing'' does not include prescribed charges.
Rebate of borrowing costs	435.1 (1) Where a company makes a loan in respect of which the disclosure requirements of section 436 apply and the loan is not secured by a mortgage on real property and is required to be repaid either on a fixed future date or by instalments, the company shall, if there is a prepayment of the loan, rebate to the borrower a portion of the charges included in the cost of borrowing in respect of the loan.
Exception	(2) The charges to be rebated do not include the interest or discount applicable to the loan.
Regulations	(3) The Governor in Council may make regulations governing the rebate of charges under subsection (1). The rebate shall be made in accordance with those regulations.
Disclosing borrowing costs	436. (1) A company shall not make a loan to a natural person that is repayable in Canada unless the cost of borrowing, as calculated and expressed in accordance with section 437, and other prescribed information have in the prescribed manner and at the prescribed time been disclosed by the company to the borrower.
Non-appli- cation	(2) Subsection (1) does not apply in respect of a loan that is of a prescribed class of loans .
	380. (1) Subparagraph 438(1)(a)(i) of the Act is replaced by the following:
	(i) any terms and conditions relating to that right, including the particulars of the circumstances in which the borrower may exercise that right, and
	(2) Subsection 438(1) of the Act is amended by striking out the word ``and'' at the end of paragraph (a) and by adding the following after paragraph (b):
	(c) at such time and in such manner as may be prescribed, any changes respecting the cost of borrowing or the loan agreement as may be prescribed;
	(d) particulars of any other rights and obligations of the borrower; and
	(e) any other prescribed information, at such time and in such form and manner as may be prescribed.
	(3) Subsection 438(2) of the Act is replaced by the following:
Disclosure re charge cards	(2) Where a company makes a loan to a natural person through the use of a credit, payment or charge card, the company shall, in addition to disclosing the costs of borrowing and any charges or penalties described in paragraph (1)(b), disclose to the person, in accordance with the regulations,
	(a) particulars of the person's rights and obligations;
	(b) any charges for which the person becomes responsible by accepting or using the card;
	(c) at such time and in such manner as may be prescribed, any changes respecting the cost of borrowing or the loan agreement as may be prescribed; and
	(d) any other prescribed information, at such time and in such form and manner as may be prescribed.
Additional disclosure re other loans	(3) Where a company under any arrangement, including a line of credit, makes a loan in respect of which the disclosure requirements of section 436 apply and the loan is not a loan in respect of which subsection (1) or (2) applies, the company shall, in addition to disclosing the costs of borrowing, disclose to the person to whom the loan is made, in accordance with the regulations,
	(a) any charges or penalties described in paragraph (1)(b);
	(b) particulars of the person's rights and obligations;
	(c) any charges for which the person is responsible under the arrangement;
	(d) at such time and in such manner as may be prescribed, any changes respecting the cost of borrowing under the arrangement as may be prescribed; and
	(e) any other prescribed information, at such time and in such form and manner as may be prescribed.
	381. Sections 439 and 440 of the Act are replaced by the following:
Renewal statement	438.1 If a company makes a loan in respect of which the disclosure requirements of section 436 apply and the loan is secured by a mortgage on real property, the company shall disclose to the borrower, at such time and in such manner as may be prescribed, such information as may be prescribed respecting the renewal of the loan.
Disclosure in advertising	439. No person shall authorize the publication, issue or appearance of any advertisement in Canada relating to loans offered to natural persons by a company and purporting to disclose any information about the cost of borrowing or other prescribed information unless the advertisement contains prescribed information in such form and manner as may be prescribed.
Regulations re borrowing costs	440. The Governor in Council may make regulations
	(a) respecting the manner in which, and the time at which, a company is to disclose to a borrower
	(i) the cost of borrowing,
	(ii) any rebate of the cost of borrowing, and
	(iii) any other information relating to a loan referred to in section 438;
	(b) respecting the contents of any statement disclosing the cost of borrowing and other information required to be disclosed by a company to a borrower;
	(c) respecting the manner of calculating the cost of borrowing;
	(d) respecting the circumstances under which the cost of borrowing is to be expressed as an amount in dollars and cents;
	(e) specifying any class of loans that are not to be subject to section 435.1 , subsection 436(1) or 438(1) or (3) or section 438.1 or 439 or the regulations or any specified provisions of the regulations ;
	(f) respecting the manner in which and the time at which any rights, obligations, charges or penalties referred to in sections 435.1 to 439 are to be disclosed;
	(g) prohibiting the imposition of any charge or penalty referred to in section 438;
	(h) respecting the nature or amount of any charge or penalty referred to in section 438 and the costs of the company that may be included or excluded in the determination of the charge or penalty;
	(i) requiring any charge or penalty referred to in section 438 to be reasonable;
	(j) respecting the method of calculating the amount of rebate of the cost of borrowing, or the portion of the cost of borrowing referred to in subparagraph 438(1)(a)(ii);
	(k) respecting advertisements made by a company regarding loans;
	(l) respecting the renewal of loans; and
	(m) respecting such other matters or things as are necessary to carry out the purposes of sections 435.1 to 439.
	382. Paragraph 441(1)(a) of the Act is replaced by the following:
	(a) establish procedures for dealing with complaints made by customers of the company about
	(i) the application of charges applicable to deposit accounts, arrangements referred to in subsection 438(3) or payment, credit or charge cards with the company, or
	(ii) the disclosure of or manner of calculating the cost of borrowing in respect of a loan made by the company;
	383. Subsection 442(1) of the Act is replaced by the following:
Contacting Superinten- dent	442. (1) If a customer of a company has a complaint about a deposit account, an arrangement referred to in subsection 438(3), a payment, credit or charge card or the disclosure of or manner of calculating the cost of borrowing in respect of a loan, the company shall, in the prescribed manner, provide the customer with prescribed information on how to contact the Office of the Superintendent of Financial Institutions.
	384. Paragraph 443(3)(b) of the Act is replaced by the following:
	(b) that is made for business purposes and the principal amount of which is more than $100,000 or such other amount as may be prescribed.
	385. Section 444 of the Act is replaced by the following:
Regulations re customer information	444. The Governor in Council may make regulations
	(a) requiring a company to establish procedures regarding the collection, retention, use and disclosure of any information about its customers or any class of customers;
	(b) requiring a company to establish procedures for dealing with complaints made by a customer about the collection, retention, use or disclosure of information about the customer;
	(c) respecting the disclosure by a company of information relating to the procedures referred to in paragraphs (a) and (b);
	(d) requiring a company to designate the officers and employees of the company who are responsible for
	(i) implementing the procedures referred to in paragraph (b), and