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43 (1) in case a debtor cancels a loan that is payday under subsection 30 (1), the termination takes impact once the debtor provides notice required by subsection 30 (2). 2008, c. 9, s. 43 (1).
Effectation of termination
(2) The termination runs to cancel the cash advance contract just as if it had never existed. 2008, c. 9, s. 43 (2).
Responsibilities of events
(3) If a debtor cancels a loan that is payday under subsection 30 (1),
(a) the financial institution shall, relative to the requirements that are prescribed if any,
(i) reimbursement to your debtor all re payments, if any, made underneath the agreement or made as an ailment of stepping into the contract, except repayments of any area of the advance,
(ii) go back to the borrower all cheques that are post-dated pre-authorized debits and authorizations for future payments supplied beneath the agreement, if those cheques, debits and authorizations have been in concrete form, and