OMVIC Chapter One Latest Update Graded A+

OMVIC Chapter One Latest Update Graded A+ The Motor Vehicle Dealers Act the primary legislation governing Ontario's retail automotive sector OMVIC enforces the Motor Vehicle Dealers Act OMVIC carries out - the inspection of dealers - maintains a complaint line for customers - conducts investigations - administers and enforces the MVDA 2002 - conducts disciplinary hearings - conducts prosecutions - administers the compensation fund How many people compose OMVIC's board of directors? 12 - 9 Dealers & 3 Consumer Reps Transaction Fee Program dealers are required to pay $5.00 for each vehicle sold or leased to OMVIC True or False : The transaction fee can be passed along to the consumer. True : if the dealership chooses to. What information is OMVIC required to make available to the public? - business name , address and phone number - salesperson name -any proposal to refuse suspend or revoke the registration of a dealer salesperson If OMVIC determines that a dealer's advertising is false or misleading, what do they do to correct it? cease publication and issue retraction or correction If an order is used to stop or correct false advertising, for how long may the dealer need to seek OMVIC's pre-approval for future advertising? up to 2 years Possible situations which could result in OMVIC applying to court appoint a receiver and manager to assume temporary control of a dealership: - if there has been an investigation - if the dealership is about to fail - if OMVIC is proposing to revoke a registration - if a "freeze order" is about to be made