(4) In the event that price of borrowing under a loan that is payday exceeds the prescribed limitations, the debtor is just needed to repay the advance to your loan provider and it is perhaps perhaps not prone to spend the price of borrowing. 2008, c. 9, s. 32 (4).
Regulation on standard fees
33 (1) a loan provider shall maybe maybe perhaps not impose against a debtor under a pay day loan contract, and also the debtor isn’t prone to spend, standard fees other than,
(a) reasonable costs in respect of appropriate expenses that the financial institution incurs in collecting or wanting to gather a payment that is required the debtor beneath the contract; or
(b) reasonable costs showing the expense that the lending company incurs because a cheque or other instrument of re re re payment distributed by the debtor underneath the contract happens to be dishonoured. 2008, c. 9, s. 33 (1).