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Statutes of Newfoundland and Labrador 2023 AN ACT RESPECTING THE REGULATION OF MORTGAGE BROKERAGES AND MORTGAGE BROKERS IN THE PROVINCE (Assented to May 25, 2023) Analysis 1. Short title 2. Interpretation 3. Non-application of Act 4. Superintendent and deputy superintendent 5. Powers and duties of superintendent 6. Register 7. Types of licences 8. Application for licence 9. Principal broker 10. Duties of licensees 11. Notice of changes 12. Temporary licence 13. Variation, suspension or cancellation of licence 14. Licence required 15. Duties owed to a borrower 16. Records 17. Trust accounts 18. Advertising 19. Limitation of liability of borrower 20. Prohibition 21. Administrative penalty 22. Order of superintendent 23. Inspectors 24. Powers of inspectors 25. Contravention of Act suspected 26. Telewarrant 27. Report by inspector 28. Protection order 29. Protection from liability 30. Appeal 31. Notice 32. Offences 33. Limitation period 34. Regulations 35. Fees and forms 36. Transitional 37. SNL2019 cR-2.1 Amdt. 38. RSNL1990 cS-13 Amdt. 39. RSNL1990 cM-18 Rep. 40. Commencement Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows: Short title 1. This
Act may be cited as the Mortgage Brokerages
and Brokers Act. Interpretation 2. (1) In this Act (a) "borrower"
means a person who applies for a mortgage through a
mortgage brokerage or a mortgage broker; (b) "business day" means a day that is not a Saturday, Sunday or holiday; (c) "department" means the department presided over by the minister; (d) "deputy superintendent" means the Deputy Superintendent of Mortgage Brokerages and Mortgage Brokers appointed under subsection 4(2); (e) "former Act" means the Mortgage Brokers Act; (f) "licence" means a licence issued under section 7; (g) "licensee" means a person who holds a licence issued under section 7; (h) "minister" means the minister appointed under the Executive Council Act to administer this Act; (i) "mortgage" means any charge on
real property or both real property and personal property for the purpose of
securing money or money's worth; (j) "mortgage broker" means an individual who (i) holds a mortgage broker licence, and (ii) brokers mortgages on behalf of a mortgage brokerage; (k) "mortgage
brokerage" means a corporation, partnership or sole proprietorship that holds
a mortgage brokerage licence; (l) "mortgage brokerage licence" means a licence issued under paragraph 7(1)(a); (m) "mortgage broker licence" means a licence issued under paragraph 7(1)(b); (n) "principal broker" means an individual designated in accordance with subsection 9(1); (o) "superintendent" means the Superintendent of Mortgage Brokerages and Mortgage Brokers appointed under subsection 4(1); (p) "trade"
means a trade as defined in the Real Estate
Trading Act, 2019; and (q) "trust money" means money received by a mortgage brokerage but does not include money that is clearly received as payment to the mortgage brokerage for fees or other remuneration earned by the mortgage brokerage. (2) For the purposes of this Act, a person brokers mortgages if the person engages in one or more of the following activities: (a) soliciting another person to obtain a mortgage, where the solicitation is on behalf of another person; (b) negotiating or arranging a mortgage on behalf of another person; (c) providing advice to a person with respect to the appropriateness of obtaining a particular mortgage; and (d) any other activity prescribed in the regulations. Non-application of Act 3. This Act or a part of it does not apply to a person or class of persons exempted from the application of this Act or a part of it by the regulations. Superintendent and deputy superintendent 4. (1)
The minister shall appoint a Superintendent of Mortgage Brokerages
and Mortgage Brokers to administer and enforce this Act and the regulations. (2) The minister may
appoint a Deputy Superintendent of Mortgage Brokerages and Mortgage Brokers who
shall perform the duties and exercise the powers of the superintendent where (a) the superintendent is absent or unable to act; (b) the superintendent considers it necessary to delegate the
superintendent's authority; or (c) the office of the superintendent is vacant. Powers and duties of superintendent 5. The superintendent may (a) establish a code of conduct; (b) set continuing education requirements; and (c) perform the other duties and exercise the powers conferred by this
Act. Register 6. The superintendent shall maintain a register of mortgage brokerages and mortgage brokers on the department's website which shall include (a) the name of all mortgage brokerages and mortgage brokers licensed under the Act; and (b) any other information prescribed in the regulations. Types of licences 7. (1)
The superintendent may issue the following licences: (a) a mortgage brokerage licence which authorizes the holder of the licence to carry on the business of brokering mortgages; and (b) a mortgage broker licence which authorizes the holder of the licence to broker mortgages on behalf of a mortgage brokerage. (2) The superintendent
may issue a licence or refuse to issue a licence. (3) Where the superintendent refuses to issue a licence, the superintendent shall provide the applicant with written reasons for the refusal. (4) A licence issued
under paragraph (1)(b) shall state the name of the mortgage
brokerage with whom the mortgage broker is employed. (5) The superintendent
may impose terms and conditions on a licence. (6) A
licence is not transferrable or assignable. (7) A licence remains in effect until it is suspended or cancelled under this Act. Application for licence 8. (1) A person applying for a licence under paragraph 7(1)(a) shall submit to the superintendent (a) an application in the form set by the superintendent; (b) the fee set by the minister; (c) a certified criminal
records check satisfactory to the superintendent from the Royal Newfoundland
Constabulary, the Royal Canadian Mounted Police or another organization
approved by the minister for (i) the principal broker, where the applicant is a corporation, (ii) each partner in the partnership, where the applicant is
a partnership, or (iii) the sole proprietor, where the applicant is a sole proprietorship; (d) proof, satisfactory to the superintendent, that the principal broker has successfully completed the education requirements prescribed in the regulations; (e) proof of errors and omissions liability insurance in the amount
prescribed in the regulations; and (f) other information or documentation prescribed in the
regulations. (2) An individual applying for a licence under paragraph 7(1)(b) shall submit to the superintendent (a) an application in the form set by the superintendent; (b) the fee set by the minister; (c) a certified criminal
records check satisfactory to the superintendent from the Royal Newfoundland
Constabulary, the Royal Canadian Mounted Police or another organization
approved by the minister; (d) proof, satisfactory to the superintendent, of successful
completion of the education requirements prescribed in the regulations; (e) a statement made by or on behalf of the mortgage brokerage
for whom the applicant proposes to work (i) recommending the
applicant as an appropriate individual to receive a mortgage broker licence,
and (ii) declaring that, where the applicant is granted a licence, the
applicant shall act as a mortgage broker employed by and representing the
mortgage brokerage; and (f) other information or documentation prescribed in the
regulations. (3) Paragraph (2)(e) does
not apply to an individual who is also applying for a mortgage brokerage
licence as a sole proprietor. (4) Where the
superintendent requires further information in order to assess an application
under subsection (1) or (2), the superintendent shall request further
information from the applicant and the applicant shall provide that information
in the time set by the superintendent. Principal broker 9. (1) Where a corporation or partnership applies for a mortgage brokerage licence, it shall designate an individual to act on its behalf for the purposes of the licence. (2) The principal broker
for a corporation or partnership shall be an individual who (a) is a director of the corporation or a partner in the
partnership; (b) is active in the day to day operations of the corporation
or partnership and knowledgeable of the business of the corporation or
partnership; and (c) holds a valid mortgage broker licence. (3) The principal broker for a sole proprietorship is the sole proprietor. (4) A mortgage brokerage
licence issued under this Act shall be in the name of the corporation, partnership
or sole proprietorship and shall state on the licence the name of the principal
broker. (5) Notwithstanding
subsections (1), (2) and (4), a corporation or partnership may designate
another individual who satisfies the requirements in subsection (6) to act as
the principal broker in the absence or incapacity of the principal broker. (6) An individual may be designated under subsection (5) where the individual (a) has successfully completed the education requirements referred
to in paragraph 8(1)(d); and (b) satisfies the requirements in paragraphs (2)(b) and (c). (7) Where a corporation
or partnership designates an individual under subsection (5), it shall provide
the name of that individual to the superintendent. (8) Where a principal
broker for a corporation or partnership dies or becomes incapacitated or the
principal broker's employment with the mortgage brokerage is terminated and the
mortgage brokerage does not have an alternate principal broker, the
superintendent may (a) allow the mortgage brokerage to appoint a principal broker that
does not meet the requirements in subsection (2) or (6) for a term of not more
than 6 months; and (b) allow the mortgage brokerage to carry on business during that
time. Duties of licensees 10. (1)
A licensee shall (a) pay the annual fee set by the minister; (b) comply with this Act, the regulations, the code of conduct and
the terms and conditions of the licence; (c) complete the continuing education requirements set by the
superintendent; and (d) provide information or documentation to the superintendent where
requested. (2) In addition to the requirements in subsection (1), a mortgage brokerage shall (a) file an annual report in the form set by the superintendent; and (b) maintain errors and omissions liability insurance in the amount prescribed in the regulations. (3) For the purposes of paragraph (1)(c), where the licensee is a mortgage brokerage the principal broker shall complete the continuing education requirements set by the superintendent. (4) The superintendent may require mortgage brokers to file an annual report in the form set by the superintendent. Notice of changes 11. A licensee shall notify the superintendent in writing of
the following changes within 10 business days of the change: (a) a change in the address for service; (b) a change in email address; (c) a change in the partners where the licensee is a partnership
or a change in the directors where the licensee is a corporation; (d) a change in the account number, branch or location of the
licensee's trust account, where the licensee holds a mortgage brokerage licence;
(e) the commencement and termination of employment of a mortgage
broker; (f) a change in any information submitted in the licensee's
application for a licence; and (g) a change in any information in the most recent annual report
submitted by the licensee. Temporary licence 12. (1)
Notwithstanding section 7, where a sole proprietor
who operates a mortgage brokerage dies or becomes incapacitated, the
superintendent may issue a temporary mortgage brokerage licence and a temporary
mortgage broker licence to the executor or administrator of the deceased sole
proprietor's estate or the incapacitated sole proprietor's power of attorney. (2) Licences issued
under subsection (1) shall be for a term of not more than 6 months and shall
authorize the holder of the licences to (a) carry on the business of a mortgage brokerage on behalf of the
deceased or incapacitated sole proprietor; and (b) act as a mortgage broker for clients of the sole proprietor that existed at the time of death or incapacitation. Variation, suspension or cancellation of licence 13. (1) The superintendent may vary, suspend or cancel a licence where (a) the superintendent is satisfied that the licensee contravened (i) this Act or the
regulations, (ii) a term or condition of the licence, (iii) an order issued under this Act, or (iv) the code of conduct; (b) the superintendent
is satisfied that the licensee made one or more false or misleading statements
in the application for a licence, the information provided in support of the
application or an annual report; (c) in the case of a corporation, the corporation has been
dissolved or has been struck off the register of companies under the
Corporations Act; (d) in the case of a partnership, the partnership has been dissolved; (e) a mortgage brokerage has become bankrupt; (f) the licensee failed to file an annual report, where required; (g) the licensee failed to pay the annual fee; (h) the licensee did not satisfy the continuing education
requirements; or (i) the superintendent
is satisfied that it is in the public interest to vary, suspend or cancel the
licence. (2) Where a mortgage broker's employment with a
mortgage brokerage is terminated, the mortgage broker's licence is cancelled. (3) Where a mortgage
brokerage closes or winds up, the licences of all mortgage brokers employed
with the mortgage brokerage are cancelled. (4) Where a mortgage brokerage ceases to employ at least one mortgage broker authorized to broker mortgages on its behalf, the mortgage brokerage licence is cancelled. Licence required 14. A person shall not (a) carry on the business of brokering mortgages, or represent to be doing so, unless that person holds a valid mortgage brokerage licence or is exempted from the requirement to have a licence by the regulations; or (b) broker mortgages, or represent to be a mortgage broker, unless the person holds a mortgage broker licence or is exempted from the requirement to have a licence by the regulations. Duties owed to a borrower 15. A licensee is required to act in the best interests of a borrower and shall (a) provide to the borrower the information prescribed in the regulations within the time and in the manner prescribed in the regulations; (b) determine the mortgage that is most suitable for the borrower in accordance with the regulations; (c) provide to the borrower, within the time and in the manner prescribed in the regulations, a written assessment of the determination made under paragraph (b) that contains the information prescribed in the regulations; and (d) retain written evidence that the assessment referred to in paragraph (c) was provided to the borrower. Records 16. (1) A licensee shall keep records of the following: (a) all information to be disclosed and documentation to be provided to a borrower under this Act; and (b) any other information or documentation prescribed in the regulations. (2) A licensee shall keep and maintain the records referred to in subsection (1) for the time, in the manner and at the location prescribed in the regulations. Trust accounts 17. (1) A licensee shall not receive or hold trust money unless the licensee (a) holds a valid mortgage brokerage licence; and (b) maintains a trust
account of a type approved by the superintendent in a financial institution that
is authorized to receive money on deposit. (2) A mortgage brokerage that receives or holds
trust money shall keep all trust money separate and apart from all other money
belonging to the mortgage brokerage or those acting on its behalf. (3) A mortgage brokerage that receives trust money
shall deposit the trust money into a trust account. (4) A mortgage brokerage shall keep records of all transactions involving trust money received or held under this section. (5) A mortgage brokerage that receives or holds trust money shall administer the trust account and maintain records in relation to the trust account in accordance with the regulations. Advertising 18. (1) A licensee shall not advertise or otherwise indicate that the licensee is a mortgage brokerage or mortgage broker using a name other than the name set out on the licence. (2) A mortgage brokerage shall not advertise the business or any products or services offered by that business unless the advertisement (a) indicates the name of the business as set out on its licence; and (b) contains other information that may be prescribed in the regulations. (3) A mortgage broker shall not advertise the business or any products or services offered by the mortgage broker unless the advertisement (a) indicates the name of the mortgage brokerage for which the mortgage broker is authorized to act; and (b) contains other information that may be prescribed in the regulations. (4) A licensee shall not make any false, misleading or deceptive statements in an advertisement. (5) Where, in the
opinion of the superintendent, a licensee has made a false, misleading or
deceptive statement in an advertisement the superintendent may order that
licensee to stop using that advertisement immediately. Limitation of liability of borrower 19. A borrower is not liable to pay a mortgage
broker an amount that exceeds that set out in the disclosure statement required
under the Consumer Protection and Business Practices Act and the regulations
under that Act. Prohibition 20. A person who is licensed under this Act and licensed under
the Real Estate Trading Act, 2019
shall not provide services under the authority of this Act and the Real
Estate Trading Act, 2019 to a person in relation to a trade. Administrative penalty 21. (1)
Where the superintendent is of the opinion that a
person has committed, as specified by regulation, a contravention of this Act or
the regulations for which an administrative penalty applies, the superintendent
or a person authorized by the superintendent may, in writing, notify that
person that the person is to pay to the government of the province an
administrative penalty in the amount set out in the notice for each day or part
of a day the contravention occurs or continues to occur. (2) A person who pays an
administrative penalty with respect to a contravention may not be charged with
an offence under this Act with respect to that contravention. (3) Where a person fails
to pay an administrative penalty in accordance with a notification under subsection
(1), the government of the province may recover the amount owing in respect of
the penalty as a debt due the Crown. (4) For the purpose of
this section, an administrative penalty is a monetary penalty imposed in
accordance with the regulations for a contravention of this Act or the
regulations. Order of superintendent 22. (1) Where the superintendent determines that a licensee contravened this Act, the regulations, the code of conduct or an order of the superintendent, the superintendent may make one or more of the following orders: (a) an order suspending or cancelling the licensee's licence; (b) an order imposing conditions or restrictions on the licensee;
or (c) another order prescribed in the regulations. (2) The superintendent
may publish a summary of an order issued under this section in accordance with
the regulations. Inspectors 23. (1)
The superintendent may designate persons or
classes of persons to act as inspectors for the purpose of this Act and the
regulations. (2) The superintendent and the deputy superintendent are inspectors for the purpose of this Act and the regulations. (3) A person shall not knowingly make a false or misleading statement, either orally or in writing, to an inspector while the inspector is exercising powers or carrying out duties or functions under this Act or the regulations. Powers of inspectors 24. (1)
An inspector has the same power to
summon and enforce the attendance of a person and to compel the person to
testify on oath or otherwise, and to summon and compel a person to produce
documents and other things, that is vested in a judge of the Supreme Court, and
the refusal of the person to attend or to answer questions or of a person to
produce documents or other things that are in the person's custody or possession
makes the person liable to be committed for contempt by a judge of the Supreme
Court as if in breach of an order of that court. (2) An inspector may, at all reasonable times, for purposes related to the administration or enforcement of this Act or the regulations, inspect or examine the premises, processes, books and records of a person that the inspector may consider relevant for the purpose of determining compliance with this Act or the regulations, and the inspector may, without a warrant, (a) enter any premises where (i) any property, books
or records are or may be kept, or (ii) anything is done or is suspected by the inspector of being done in
connection with a requirement of this Act or the regulations; (b) make copies, extracts, photographs or videos the inspector
considers necessary; (c) require the owner or
person in charge of a premises to give the inspector all reasonable assistance,
including the production of books and records as requested by the inspector,
and to answer all proper questions relating to the administration or
enforcement of this Act or the regulations and, for that purpose, require the
owner or person in charge to attend at the premises with the inspector; and (d) require the owner or person in charge to make available the means
to generate and manipulate books and records that are in machine readable or
electronic form and any other means or information necessary for the inspector
to assess the books and records. (3) Notwithstanding
subsection (2), an inspector shall not enter a dwelling-house without the
consent of the occupant except under the authority of a warrant issued under section
25 or 26. Contravention of Act suspected 25. (1)
Where during the course of an inspection under section
24 or otherwise an inspector believes on reasonable grounds that there has been
a contravention of this Act or the regulations, the inspector may, with a
warrant issued under subsection (2) or section 26, seize and take away any of
the books or records that may be required as evidence of a contravention and
may retain those documents until the time they are required in a court
proceeding. (2) A Provincial Court
judge who is satisfied upon oath or affirmation there are reasonable grounds
for believing there is in or on a premises anything that may provide evidence
with respect to a suspected offence under this Act or the regulations, may
issue a warrant authorizing an inspector to enter the premises and to (a) search; (b) examine the contents of the premises and make those inquiries that
the inspector considers necessary; and (c) copy, extract, photograph, video, seize and take away evidence,
books and records, for the purpose of investigating the suspected offence. (3) The owner or person
in charge of a premises referred to in this section or a person there shall not
obstruct an inspector in the carrying out of the inspector's duties under this
section as authorized by the warrant. (4) A
copy of a document obtained under this section, on proof by affidavit that it
is a true copy, is admissible in evidence in proceedings under this Act and has
the same probative force as the original document would have if it had been
proved in the ordinary way. (5) Copies
of documents obtained under this section are not required to be returned to the
person who provided them. Telewarrant 26. (1) Where, in the opinion of an inspector it would not be
practical to appear before a Provincial Court judge to apply for a warrant, the
inspector may make the application by telephone or other means of
telecommunication. (2) Where an inspector
acts under the authority of a warrant obtained under this section, the
inspector shall provide a facsimile of the warrant to the owner or person in
charge of a premises present at the time the warrant is carried out. (3) In subsection (2),
"facsimile" includes a record produced by electronic means or a
written record of a telephone conversation made by both parties to the
conversation while it is in progress and which the parties have confirmed as to
its accuracy by reading their record of the conversation to one another at the
end of the conversation. Report by inspector 27. When directed by the superintendent, an inspector shall prepare a report and provide a copy to the superintendent. Protection order 28. (1)
Where the superintendent considers it necessary for
the administration of this Act, the superintendent may direct a person, having
on deposit or under the person's control or for safekeeping funds of a person,
to retain those funds and to hold them until the superintendent in writing
revokes the direction or consents to release a particular fund from the
direction, or until a judge of the Supreme Court orders otherwise. (2) A direction under
subsection (1) that names a bank or other financial institution shall apply
only to a branch of the bank or other financial institution identified in the
direction. (3) As soon as
practicable, and not later than 7 days after a direction is issued under
subsection (1), the superintendent shall apply to a judge of the Supreme Court
to continue the direction or for another order that the judge considers
appropriate. (4) A direction under
subsection (1) may be made without notice but, in that event, copies of the
direction shall be sent immediately by means that the superintendent may
determine to all persons named in the direction. Protection from liability 29. The superintendent, deputy superintendent, an inspector or a person acting on behalf of the superintendent or deputy superintendent shall not be liable for anything done in good faith in the exercise or performance of a power, duty or function conferred or imposed on the superintendent, deputy superintendent, inspector or person under this Act or the regulations. Appeal 30. A person may appeal a decision or order of the
superintendent or the deputy superintendent made under this Act to the
Financial Services Appeal Board in accordance with the Financial Services
Appeal Board Act. Notice 31. (1)
A notice given under this Act or the regulations shall be
considered sufficiently served where it is (a) delivered or sent by prepaid registered mail to the address for
service provided by the person; or (b) sent electronically to the email address provided by the
person. (2) For the purpose of
this section, where a notice or document is sent by registered mail, it shall
be considered to have been served on the fifth business day after mailing, and
the service may be proved by providing evidence that the notice or document was
prepaid and properly addressed and sent. (3) For the purpose of
this section, where a notice or document is sent electronically, it shall be
considered to have been served on (a) the day it is sent, if the document is sent on or before 4
p.m. on a business day; or (b) the next business day, if the document is sent after 4 p.m. Offences 32. (1)
A person who contravenes this Act, the regulations or an
order under this Act is guilty of an offence and is liable on summary
conviction (a) in the case of an individual, to a fine not exceeding $50,000, and in default of payment
or in addition to that fine, to imprisonment for a term not exceeding 2 years;
or (b) in the case of a corporation or a partnership, to a fine not exceeding $100,000. (2) Each contravention
of this Act, the regulations or an order under this Act constitutes a new and
separate offence. (3) Where an offence
under this Act or the regulations is committed or continued on more than one
day, the person who committed the offence is liable to be convicted for a
separate offence for each day on which the offence is committed or continued. Limitation period 33. A prosecution under this Act or the regulations shall be
started within 2 years of the date on which the superintendent becomes aware of
the alleged offence. Regulations 34. The Lieutenant-Governor in Council may make regulations (a) prescribing
activities for the purpose of subsection 2(2); (b) exempting persons or classes of persons from the application of this
Act or a part of it; (c) prescribing information to be included on a register of mortgage brokerages and mortgage brokers; (d) prescribing education requirements for licensees; (e) prescribing the amount of errors and omissions liability insurance; (f) respecting information and documentation to be provided with an
application for a licence; (g) prescribing the information that a licensee is required to provide to a borrower and the time and manner in which that information is to be provided; (h) prescribing the process by which a licensee is to determine the mortgage that is most suitable for a borrower; (i) prescribing the information that shall be contained in a written assessment for the purposes of paragraph 15(c) and the time and manner in which the written assessment is to be provided; (j) prescribing other information and documentation to be kept by a
licensee; (k) prescribing the time for, manner in and location at which records are required to be kept and maintained; (l) respecting the administration of trust accounts and the records to be
maintained by mortgage brokerages with respect to those trust accounts; (m) prescribing information that is required in an advertisement; (n) respecting the contravention of sections of this Act and the
regulations for which an administrative penalty may be imposed and the time,
amount and manner in which those penalties may be imposed and collected; (o) respecting orders of the superintendent; (p) respecting the publication of orders of the superintendent; (q) defining a word or phrase used but not defined in this Act; and (r) generally, to give effect to this Act. Fees and forms 35. The minister may set fees and establish forms for the
purpose and administration of this Act and the regulations. Transitional 36. (1) A person who is the Registrar of Mortgage Brokers immediately before the coming into force of this Act shall be the superintendent. (2) A person who is the Deputy Registrar of Mortgage Brokers immediately before the coming into force of this Act shall be the deputy superintendent. (3) A
valid registration of a person under the former Act shall continue to be valid
as if the former Act were still in force until the earlier of (a) 3
months after the coming into force of this Act; or (b) the date a mortgage brokerage licence is issued to the person. (4) Where a complaint proceeding was started under the former Act but not concluded before the coming into force of this Act, the proceeding shall be concluded under the former Act as if the former Act were still in force. (5) A
decision under the former Act shall continue to be in force and shall be
considered to be a decision under this Act. SNL2019 cR-2.1 Amdt. 37. Section 28 of the Real Estate Trading Act, 2019 is repealed and the following substituted: Prohibition 28. A person who is licensed under this Act and licensed under the Mortgage Brokerages and Brokers Act shall not provide services under the authority of this Act and the Mortgage Brokerages and Brokers Act to a person in relation to a trade. RSNL1990 cS-13 Amdt. 38. Paragraph 36(2)(e) of the Securities Act is amended by deleting the words "registered or exempted from registration under the Mortgage Brokers Act" and substituting the words "licensed or exempted from the requirement to be licensed under the Mortgage Brokerages and Brokers Act". RSNL1990 cM-18 Rep. 39. The Mortgage Brokers Act is repealed. Commencement 40. This Act, or a section, subsection, paragraph or subparagraph of this Act, comes into force on a day or days to be proclaimed by the Lieutenant-Governor in Council. ©King's Printer |