This consolidation is unofficial and is for reference only.

For the official version of the regulations, consult the original documents on file with the Office of the Registrar of Regulations , or refer to the Royal Gazette

Part II .

Regulations are amended frequently.

Please check the list of Regulations by Act to see if there are any recent amendments to these regulations filed with our office that are not yet included in this consolidation.

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Mortgage Regulation Act General Regulations

made under

Section 89 of the

Mortgage Regulation Act

S.N.S. 2012, c. 11

O.I.C. 2020-233 (effective November 1, 2021), N.S. Reg. 113/2020

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 for Act

Prescribed fees

Citation

1 These regulations may be cited as the Mortgage Regulation Act General Regulations .

Definitions for Act

2 In the Mortgage Regulation Act ,

“day on which the borrower commits to entering into the mortgage” means the

date the borrower signs the mortgage;

“investment in a mortgage” means the acquisition of an interest in a mortgage;

“investor” means a person that makes an investment in a mortgage and includes a

prospective investor;

“private investor” means a person that invests or proposes to invest in a mortgage,

but does not include a person that belongs to any of the following classes of

investors:

(

i) the Crown in right of Canada or in right of the Province or another

province of Canada,

(ii) a licensed mortgage brokerage, mortgage lender or mortgage

administrator acting on its own behalf,

(iii) a financial institution,

(iv) a retail association, as defined in the Cooperative Credit Associations

Act (Canada),

(

v) a corporation that is a subsidiary of a person described in subclause

(i), (ii), (iii) or (iv),

(vi) a corporation that is an approved lender under the National Housing

Act (Canada),

(vii) an administrator or trustee of a registered pension plan within the

meaning of subsection 248(1) of the Income Tax Act (Canada),

(viii) a person that is registered under the Securities Act or comparable

legislation in another province of Canada as an adviser or dealer,

while the person is acting as a principal or as an agent or trustee for

an account that is fully managed by the person,

(ix) a person in respect of which each owner of an interest, other than an

owner of voting securities required by law to be owned by directors,

is a person described in subclauses (

i) to (viii).

Prescribed fees

3 The prescribed fees are as set out in the following table:

Description

Fee

Initial fee and annual renewal fee for

mortgage lender licence

$600.00

mortgage brokerage licence

$600.00

mortgage broker licence

$300.00

associate mortgage broker licence

$300.00

mortgage administrator licence

$600.00

Reinstatement of mortgage brokerage, mortgage broker or

associate mortgage broker licence under subsection 17(2) or

18(3) of the Mortgage Regulation Act

50% of

licence fee

Legislative History

Reference Tables

Mortgage Regulation Act General Regulations

N.S. Reg. 113/2020

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 Mortgage Regulation Act General 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

113/2020

Nov 1, 2021

date specified

Sep 25, 2020

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

..........................................................

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.