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.
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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

The current consolidation of the Mortgage Regulation Act General Regulations made under the Mortgage Regulation Act includes all of the following regulations:

The following regulations are not yet in force and are not included in the current consolidation:

*See subsection 3(6) of the Regulations Act for rules about in force dates of regulations.

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.

N.S. Regulation	In force date*	How in force	Royal Gazette Part II Issue
113/2020	Nov 1, 2021	date specified	Sep 25, 2020

N.S. Regulation	In force date*	How in force	Royal Gazette Part II Issue

ad. = added am. = amended	fc. = fee change ra. = reassigned		rep. = repealed rs. = repealed and substituted
Provision affected		How affected
..........................................................

N.S. Regulation	Title	In force date	Repealed date

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.

	Note	Effective date