As a result of the federal government passing legislation allowing for payday loans to operate free of usury laws, it has been up to individual provinces to regulate them.
In June 11, 2009 Nova Scotia's regulations for payday loans came into effect, fulflling the requirements of the federal usury law's exemption for payday loans. There have been two rounds of legislation, the first establishing these rules:
Enforcement of the legislation is carried out by the Nova Scotia Utility and Review Board. This is accomplished through mandatory licensing of all lenders, coupled with annual inspections.