67Use by dealer of clients’ moneys

##### 67 Use by dealer of clients’ moneys Where a person (in this section referred to as the client) lends moneys to a dealer, the dealer shall: (a) deposit the moneys in an account in a bank, being an account that does not contain any moneys other than moneys lent to the dealer, not later than the next day after the moneys are received by the dealer on which the bank is open for business; (b) furnish to the client a document, in the prescribed form, setting out the terms and conditions on which the loan is made and accepted (including the purpose for which and the manner in which the moneys are to be used by the dealer); (c) retain the moneys in the bank account referred to in paragraph (a) until the client has given to him a written statement acknowledging that the client has received the document referred to in paragraph (b); and (d) use the moneys only: (i) for the purpose and in the manner set out in the document referred to in paragraph (b); or (ii) for another purpose or in another manner agreed to by the client in writing after the document referred to in paragraph (b) was furnished to the client. Penalty: $2,500 or imprisonment for 6 months, or both.