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O. Reg. 35/22: ADMINISTRATIVE PENALTIES
filed January 28, 2022 under Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c. 29
Skip to contentontario regulation 35/22
made under the
Mortgage Brokerages, Lenders and Administrators Act, 2006
Made: January 27, 2022
Filed: January 28, 2022
Published on e-Laws: January 28, 2022
Printed in The Ontario Gazette: February 12, 2022
Amending O. Reg. 192/08
(ADMINISTRATIVE PENALTIES)
1. Section 3 of Ontario Regulation 192/08 is amended by adding the following subsection:
(2) If, after determining the amount of an administrative penalty for the contravention, the Chief Executive Officer determines that the amount is, by its magnitude, punitive in nature having regard to all the circumstances, the Chief Executive Officer shall reduce the amount of the administrative penalty to an amount that is consistent with either or both of the purposes listed in subsection 38 (1) of the Act.
Commencement
2. This Regulation comes into force on the later of February 1, 2022 and the day it is filed.
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