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Part II .

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Reporting Requirements Regulations

made under

Section 90 of the

Mortgage Regulation Act

S.N.S. 2012, c. 11

N.S. Reg. 131/2020 (effective November 1, 2021)

amended to N.S. Reg. 170/2025 (effective September 1, 2025)

Table of Contents

Please note: this table of contents is provided for convenience of reference and does not form part of the regulations.

Click here to go to the text of the regulations .

Citation

Definitions

Annual return

Mortgage administrators’ annual financial statement

Reporting about changes of circumstances

False or misleading statements

Citation

1 These regulations may be cited as the Reporting Requirements Regulations .

Definitions

2 In these regulations,

“Act” means the Mortgage Regulation Act ;

“reporting period” means the period beginning on October 1 in any year and

ending on September 30 in the following year.

Annual return

(1) The prescribed time period for a licensee to provide an annual return to the

Registrar under

Section 54 of the Act is the 31-day period immediately after the

end of the previous reporting period.

(2) All of the following information is prescribed as the information required to be

contained in or accompany an annual return to the Registrar under

Section 54 of

the Act:

(

a) unless notice of the change has already been provided to the Registrar,

details of any change in the information provided to the Registrar in the

licensee’s most recent annual return or in the licensee’s licence application

form if the licensee has not yet provided an annual return;

(

b) confirmation of the accuracy of all information provided to the Registrar in

the licensee’s most recent annual return or in the licensee’s licence

application form if the licensee has not yet provided an annual return, except

for any information that has changed as referred to in clause (a);

(

c) confirmation that the licensee has complied with the Act in the period since

the date of their most recent annual return or since the date the licensee’s

licence was issued if the licensee has not yet provided an annual return;

(

d) for a mortgage brokerage, mortgage lender or mortgage administrator,

information about transactions conducted by the licensee during the

reporting period covered by the annual return, to be set out in the following

applicable form:

(

i) for a mortgage brokerage, Form 6A—Annual Information Return:

Mortgage Brokerages as prescribed in the Forms Regulations made

under the Act,

(ii) for a mortgage lender, Form 6B—Annual Information Return:

Mortgage Lenders as prescribed in the Forms Regulations made

under the Act,

(iii) for a mortgage administrator, Form 6C—Annual Information Return:

Mortgage Administrators as prescribed in the Forms Regulations

made under the Act.

Mortgage administrators’ annual financial statement

(1) In this Section, “fiscal year”, in relation to a financial statement for the preceding

fiscal year provided by a mortgage administrator under

Section 55 of the Act,

means the preceding fiscal year of the licensee.

(2) The prescribed time period for a mortgage administrator to provide an annual

financial statement to the Registrar under clause 55(

b) of the Act is the 90-day

period immediately after the end of the fiscal year.

(3) All of the following are prescribed as the information and documentation required

to be contained in or accompany a mortgage administrator’s financial statement

under clause 55(

a) of the Act:

(

a) a copy of the audited financial statement for the mortgage administrator’s

books, records and accounts for the fiscal year;

(

b) for a mortgage administrator that received or handled trust property during

the fiscal year, a copy of the audited financial statement for the mortgage

administrator’s trust account and the assets and liabilities under

administration for the fiscal year;

(ba) for a mortgage administrator that did not receive or handle any trust

property during the fiscal year, a statutory declaration that is sworn under

oath or affirmed by the compliance officer in Form 7 — Statutory

Declaration as prescribed in the Forms Regulations made under the Act;

(

c) a written statement signed and dated by an officer of the mortgage

administrator indicating that they have reviewed the financial statements

referred to in clauses (

a) and (

b) and certify their accuracy;

(

d) a copy of a report by the auditor about the books, records and accounts of

the mortgage administrator for the fiscal year;

(

e) for a mortgage administrator that received or handled trust property during

the fiscal year, a copy of a report by the auditor about the mortgage

administrator’s trust account and the assets and liabilities under

administration for the fiscal year.

(4) The financial statements referred to in clauses (3)(

a) and (

b) must be audited by a

public accountant licensed under the Chartered Professional Accountants Act , and

the reports referred to in clauses (3)(

d) and (

e) must be prepared by the same

person who conducted the audits.

Reporting about changes of circumstances

(1) The prescribed time period for an applicant or licensee to notify the Registrar in

writing of any change of circumstances under

Section 22 of the Act is

(

a) the 10-day period immediately after the date the change occurs; or

(

b) if notification is required earlier than as specified in clause (

a) by the Act or

its regulations, the date of that earlier notification.

(2) Each of the following is prescribed as a change of circumstances that requires

notice to the Registrar under

Section 22 of the Act:

(

a) a change in the location of a mortgage lender’s, mortgage brokerage’s or

mortgage administrator’s principal place of business in the Province;

(

b) an opening or closing by a mortgage lender, mortgage brokerage or

mortgage administrator of an office in the Province that is open to the

public;

(

c) a change of any of the directors or officers of a licensee that is a

corporation;

(

d) a change of any of the partners of a licensee that is a partnership;

(

e) a change of any of the general partners of a licensee that is a limited

partnership;

(

f) a change of the principal broker of a mortgage brokerage;

(

g) a change of the compliance officer of a mortgage lender or mortgage

administrator;

(

h) cancellation or non-renewal of the errors and omissions insurance

maintained by a mortgage lender, mortgage brokerage or mortgage

administrator in accordance with the Mortgage Lender, Brokerage, Broker

and Administrator Licensing Regulations made under the Act;

(

i) a change in the financial guarantee maintained by a mortgage administrator

in accordance with the Standards of Conduct for Mortgage Administrators

Regulations made under the Act, if the change results in the guarantee being

cancelled or reduced to an amount lower than the minimum amount

required by those regulations;

(

j) any change of circumstance that affects any previous information about the

licensee that has been provided to the Registrar or any change in the

operation of the licensee that results in a material difference from anything

described in information previously provided to the Registrar.

False or misleading statements

6 A person must not make a false or misleading statement in any report to the Registrar

referred to in these regulations or in any information or material provided to the Registrar

under

Section 20 of the Act.

Legislative History

Reference Tables

Reporting Requirements Regulations

N.S. Reg.

131/2020

Mortgage Regulation Act

Note: The

information in these tables does not form part of the regulations and is

compiled by the Office of the Registrar of Regulations for reference only.

Source Law

The current consolidation of the Reporting Requirements Regulations made

under the Mortgage Regulation Act includes all of

the following regulations:

N.S.

Regulation

In force

date*

How in force

Royal Gazette

Part II Issue

131/2020

Nov 1, 2021

date

specified (date that Act comes into force on proclamation)

Oct 9, 2020

170/2025

Sep 1, 2025

date specified

Sep 19, 2025

The following regulations are not

yet in force and are not included in the current consolidation:

N.S.

Regulation

In force

date*

How in force

Royal Gazette

Part II Issue

*See subsection 3(6) of the Regulations Act for

rules about in force dates of regulations.

Amendments by Provision

ad. = added

am. = amended

fc. = fee change

ra. = reassigned

rep. = repealed

rs . = repealed and substituted

Provision affected

How affected

4(3)(b) ...............................................

rs . 170/2025

4( 3)( ba ) .............................................

ad. 170/2025

4(3)(e) ...............................................

rs . 170/2025

4(4) ...................................................

am. 170/2025

Note that changes to headings are not

included in the above table.

Editorial Notes and Corrections

Note

Effective

date

Repealed and Superseded

N.S.

Regulation

Title

In force

date

Repealed

date

Note: Only

regulations that are specifically repealed and replaced appear in this

table. It may not reflect the entire

history of regulations on this subject matter.