Legislation to Support a Fair, Safe and Informed Marketplace Passes Second Reading
September 10, 2013 2:20 p.m. – Ministry of Consumer Services
Ontario is one step closer to delivering stronger rights and more protection for consumers when it comes to door-to-door sales, debt settlement services, real estate transactions, and real estate fees and commissions.
Bill 55, The Stronger Protection for Ontario Consumers Act 2013, passed Second Reading today in the Legislature, supported in a vote by all parties, and has been referred to the Standing Committee on the Legislative Assembly.
The Act would, if passed:
- Curb aggressive door-to-door sales tactics on the sale of water heaters
- Protect vulnerable, indebted consumers against the abusive practices of some companies offering debt settlement services
- Help protect home buyers and sellers in real estate bidding
- Give home sellers and buyers more power to negotiate both fees and commissions when working with a real estate professional
Educating and protecting Ontario consumers is part of the government’s plan to ensure a fair marketplace and help people in their everyday lives.
- The Ontario government received more than 1,835 complaints and inquiries about door-to-door water heater rentals in 2013.
- The Bank of Canada has declared household debt to be the number one domestic risk to the economy.
- The Canada Mortgage and Housing Corporation forecasts that in 2013, 191,300 resale housing units will be sold in Ontario at an average unit listing price of $382,200.
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