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. Although every effort has been made to ensure the accuracy of this electronic version, the Office of the Registrar of Regulations assumes no responsibility for any discrepancies that may have resulted from reformatting. This electronic version is copyright © 2024, Province of Nova Scotia, all rights reserved. It is for your personal use and may not be copied for the purposes of resale in this or any other form.
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.
1 These regulations may be cited as the Mortgage Regulation Act General Regulations.
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).
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.
RegulationIn force
date*How in force
Royal Gazette
Part II Issue113/2020
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.
RegulationIn 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.
ad. = added
am. = amendedfc. = fee change
ra. = reassignedrep. = repealed
rs. = repealed and substitutedProvision 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.
RegulationTitle
In force
dateRepealed
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.
Webpage last updated: 01-11-2021