Commonwealth Consolidated Regulations Commonwealth Consolidated RegulationsThe credit limit set out in paragraph (c) of the definition of small amount credit contract in subsection 5(1) of the Act is increased by the amount of each of the following as included in the amount of credit to be provided under the contract:
(a) the permitted establishment fee for the contract;
(b) the first permitted monthly fee payable under the contract.
Note 1: Section 31A of the Code deals with the fees and charges that can be imposed under a small amount credit contract.
Note 2: While this regulation could raise a credit limit to a maximum
of $2,480, no more than $2,000 would be available to the consumer under the
contract.