What about the commercial declaration in the credit agreement? The court agreed with the borrower that the credit contract was a regulated agreement under the CCA and was not exempt. As no enforcement decision has been sought, the decision in question should be set aside. The lender was originally successful in obtaining a judgment. However, the borrower appealed that the credit contract is not exempt because it is not intended for commercial purposes and does not meet the CCA`s form and content requirements. Failure to comply with the CCA meant that the agreement could only be implemented by a court decision that the lender had not requested. The activity exemption (formerly 16B of CCA 1974) is now included in Section 60C of the RAO and stipulates that the agreement is an exempt agreement where (a) the lender grants the borrower a credit of more than $25,000 and (b) the agreement is entirely entered into by the borrower for the purposes of a transaction that the borrower conducts or performs. Article 60C, paragraph 2 (the regulated mortgage contract is a tax-exempt credit contract, as summarized in PERG 2.7.19CG (1); The judge in the case found that the burden of proof of the application of the business exemption to an agreement rests with the creditor. If an agreement contains a statement from the borrower that the agreement is entered into entirely or primarily by the borrower for the purpose of a transaction, it should be considered that the agreement was entered into entirely or primarily for those purposes. Unsecured credits are not covered by the coverage described above and may be regulated for the purposes of the CCA and regulated credit-related activities, for which a person may need authorization.1 The facts of the above case are not unusual: the borrower has entered into a credit agreement on a $64,000 loan that can be repaid in six months to assist his son-in-law in his business. The lender wishing to grant unregulated loans provided the borrower with a credit contract that claimed to be exempt from regulation under the Consumer Credit Act of 1974 (CCA)  because it was intended for commercial purposes and exceeded $25,000.