1(1)The definition criminal rate in subsection 347(2) of the Criminal Code is replaced by the following:criminal rate means an effective annual rate of interest calculated in accordance with generally accepted actuarial practices and principles that exceeds the Bank of Canada’s overnight rate plus twenty per cent on the credit advanced under an agreement or arrangement; (taux criminel)Criminal CodeClause 1: (1)Existing text of the definition:criminal rate means an effective annual rate of interest calculated in accordance with generally accepted actuarial practices and principles that exceeds sixty per cent on the credit advanced under an agreement or arrangement;(2)Subsection 347(2) of the Act is amended by adding the following in alphabetical order:Bank of Canada’s overnight rate, in relation to credit advanced, means the Bank of Canada’s overnight rate on the day on which the agreement or arrangement under which the credit is or is to be advanced is entered into or renewed; (taux de financement à un jour de la Banque du Canada)(2)New.