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Volume 68, No. 11

108/2025

The British Columbia Gazette,

Part II

July 15, 2025

B.C. Reg. 108/2025 , deposited July 14, 2025, under the MORTGAGE SERVICES ACT [sections 79 and 105] and MORTGAGE BROKERS ACT [section 23]. Order in Council 350/2025, approved and ordered July 14, 2025.

On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that

(

a) sections 90 and 96 to 103 of the Mortgage Services Act , S.B.C. 2022, c. 27, are brought into force,

(

b) effective October 13, 2026, the Mortgage Services Act is brought into force, except the definition of " mortgage lender " in

section 1 and sections 3 (3), 9 (1) (

d) and (3) (b), 15 (2), 24 (2) (

b) and 66 (1) (c),

(

c) effective October 13, 2026, the Mortgage Brokers Act Regulations, B.C. Reg. 100/73, are repealed, and

(

d) effective October 13, 2026, the Financial Services Authority Rule-Making Procedure Regulation, B.C. Reg. 141/2020, is amended as set out in the attached Schedule.

— B. BAILEY, Minister of Finance ; C. BOYLE, Presiding Member of the Executive Council .

Schedule

Section 1 of the Financial Services Authority Rule-Making Procedure Regulation, B.C. Reg. 141/2020, is amended in the definition of "rule" by striking out " or " at the end of paragraph (a), by adding " , or " at the end of paragraph (

b) and by adding the following paragraph:

(

c) a rule under

section 63 of the Mortgage Services Act .

2 The following

section is added:

Temporary exemption from publishing proposed rule under Mortgage Services Act

3.1

(1) Section 3 does not apply to a rule that the Authority proposes to make, amend or repeal under

section 63 of the Mortgage Services Act .

(2) The Authority must, in accordance with

section 5 (2) and (3) and before proceeding under

section 8, obtain the minister’s written consent to a rule referred to in subsection (1) of this

section and, for that purpose, must provide to the minister the material referred to in

section 5 (1) (a).

(3) Despite subsections (1) and (2), the minister may direct the Authority to proceed under sections 3 and 5 with respect to a rule referred to in subsection (1) of this section.

(4) This

section is repealed on August 1, 2028.

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