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Lease Finance Dealers
24. (1) A motor vehicle dealer registered as a lease finance dealer shall not be associated, as described in subsection 1 (2) of the Act, with a motor vehicle dealer registered as a general dealer, unless the association is the result of the lease finance dealer and the general dealer both being associated with the same person who is exempt from the Act and the regulations as a result of paragraph 21 of subsection 2 (1). O. Reg. 333/08, s. 24 (1).
(2) A motor vehicle dealer registered as a lease finance dealer shall not act as a motor vehicle dealer, other than,
(a) to buy motor vehicles;
(b) to lease a motor vehicle to a lessee if,
(i) the lease is made through a motor vehicle dealer registered as a general dealer, and
(ii) the lease is for a term of at least 120 consecutive days;
(b.1) to lease to a lessee a motor vehicle previously leased to the lessee under clause (b) if the further lease is made through a motor vehicle dealer registered as a general dealer or a salesperson registered to the lease finance dealer;
(c) to sell a previously leased motor vehicle,
(i) directly to the lessee, an individual who drove the vehicle during the term of the lease or, if the lessee is a partnership, a partner of the lessee,
(ii) to any of the persons described in subclause (i) through a motor vehicle dealer registered as a general dealer,
(iii) to a registered motor vehicle dealer or to a person who is exempt from the Act and the regulations as a result of paragraph 21 of subsection 2 (1), or
(iv) at an auction where,
(A) the person who arranges for and conducts the auction is exempt from the Act and the regulations as a result of paragraph 1 of subsection 2 (1), and
(B) the sale is made to a person who, at the time of the sale, is located in another jurisdiction and registered in that jurisdiction as a person with equivalent status to a registered motor vehicle dealer;
(d) to sell a motor vehicle that the lease finance dealer has repossessed to or through a registered motor vehicle dealer or at an auction where,
(i) the person who arranges for and conducts the auction is exempt from the Act and the regulations as a result of paragraph 1 of subsection 2 (1), and
(ii) the sale is made to a person who, at the time of the sale, is located in another jurisdiction and registered in that jurisdiction as a person with equivalent status to a registered motor vehicle dealer;
(e) to trade in a motor vehicle with a motor vehicle dealer who is registered as a general dealer or a person who is exempt from the Act and the regulations as a result of paragraph 21 of subsection 2 (1);
(f) to trade in a motor vehicle with the purchaser if,
(i) the vehicle is the subject of a conditional sales contract originally entered into between the purchaser and a general dealer, and
(ii) the general dealer has assigned its interest under the contract to the lease finance dealer; or
(g) to advertise with respect to the activities described in any of clauses (a) to (f). O. Reg. 333/08, s. 24 (2); O. Reg. 221/09, s. 9.
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