TORONTO - Ontario plans to give people a new way to exit timeshare agreements, make it easier to get out of a gym membership, and prohibit businesses from making false claims about prize offers, under new legislation.
Public and Business Service Delivery Minister Todd McCarthy introduced a new consumer protection bill Monday, saying the laws haven't been comprehensively updated since 2005, and in that time practices have changed a lot, including the use of apps and increasing online shopping.
McCarthy says most people know someone who has dealt with an unscrupulous business, in the home renovations, appliance installation, and timeshare industries, and the rules need to be simpler, clearer and "reflective of a dynamic and increasingly digital-first marketplace."
The legislation would allow owners to exit a timeshare contract after 25 years, if they want – no mandatory exit right currently exists – and would also set new rules for long-term leases for heating, ventilation and air conditioning appliances, setting limits on termination costs if a consumer wants to end the contract early.
It would also ban businesses from using language in contracts to deter consumers from publishing negative reviews, prohibit businesses from "creating unnecessary barriers" when people try to cancel a subscription or membership, such as for a gym, and give consumers the right to three times the amount of a refund owed by a business if they're forced to take that company to court to get their money back.
The maximum fines for a person or business convicted under the Consumer Protect Act are $50,000 and $250,000, respectively, and the new legislation would double those amounts.
This report by ¹ú²úÓÕ»ó¸£Àû was first published Oct. 23, 2023.
¹ú²úÓÕ»ó¸£Àû. All rights reserved.
Get the latest from ¹ú²úÓÕ»ó¸£Àû News in your inbox. Select the emails you're interested in below.
For many Indigenous communities, access to financial services and economic opportu…
Trust in international money transfers has long been tied to physical places: a ba…
Sorry, an error occurred.
Already Subscribed!
Cancel anytime
Thank you .
Your account has been registered, and you are now logged in.
Check your email for details.
Submitting this form below will send a message to your email with a link to change your password.
An email message containing instructions on how to reset your password has been sent to the email address listed on your account.
No promotional rates found.
Secure & Encrypted
Thank you.
Your gift purchase was successful! Your purchase was successful, and you are now logged in.
| Rate: | |
| Tax: | |
| Today's total: | |
| Begins: | |
| Transaction ID: |
A receipt was sent to your email.
