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  1. Canadian Payments Association By-law No. 6 — Compliance - SOR/2003-347 (Section 12)
    Canadian Payments Association By-law No. 6 — Compliance
    Marginal note:Evidence
    •  (1) The President or compliance panel, as the case may be, shall assemble information and documents that are relevant to the investigation.

    • Marginal note:Written summary

      (2) The President or compliance panel, as the case may be, shall ensure that a written summary is prepared of any information that is assembled.

    • [...]

    • Marginal note:Information and documents

      (4) The President or compliance panel, as the case may be, may request any member to provide information or documents that are relevant to the investigation and may make copies of them.

    • Marginal note:Duty

      (5) A member shall provide, or arrange to provide, the information or documents requested, unless the member satisfies the President or compliance panel, as the case may be, that there is a good reason as to why it should not provide or arrange to provide them.

    • Marginal note:Restriction on use

      (6) The President or compliance panel, as the case may be, shall use the information or documents that are assembled for the sole purpose of the investigation and for making a decision in respect of the alleged contravention.

    [...]


  2. Canadian Payments Association By-law No. 6 — Compliance - SOR/2003-347 (Section 16)
    Canadian Payments Association By-law No. 6 — Compliance
    Marginal note:Sanctions
    •  (1) If, after an investigation, the President or compliance panel, as the case may be, decides that a member is in contravention or, in the case of a non-member alleged to be in contravention, that the non-member is in contravention and that its clearing member failed to ensure compliance by the non-member, the President or compliance panel, as the case may be, may take one or more of the following actions:

      • [...]

      • (c) order the member to make restitution to any member that has suffered a loss as a result of the contravention;

    • Marginal note:Recommendation to remove

      (2) In addition to the sanctions referred to in subsection (1), the President or compliance panel, as the case may be, may notify the Board or any committee on which an officer or employee of the member serves that the member has committed a contravention and recommend that the officer or employee be removed from the Board or committee.

    [...]


  3. Canadian Payments Association By-law No. 6 — Compliance - SOR/2003-347 (Section 15)
    Canadian Payments Association By-law No. 6 — Compliance
    Marginal note:Hearing
    •  (1) The President or compliance panel, as the case may be, shall convene a hearing unless the parties agree that a hearing is not necessary.

    • Marginal note:Date of hearing

      (2) The President or compliance panel, as the case may be, shall select a date for a hearing in consultation with the parties.

    • Marginal note:Notice

      (3) The President or compliance panel, as the case may be, shall give to the parties written notice of the day of a hearing at least 20 days before that day.

    [...]


  4. Canadian Payments Association By-law No. 6 — Compliance - SOR/2003-347 (Section 22)
    Canadian Payments Association By-law No. 6 — Compliance
    Marginal note:Time limit
    • [...]

    • (3) The interest is equal to an amount calculated in accordance with the formula

      A × B × C

      where

      B 
      is the weighted average of the minimum interest rate that the Bank of Canada is prepared to charge in respect of an advance, as made public in accordance with the Bank of Canada Act, converted to a daily rate that is based on 365 days, for the period beginning on the day on which the compliance report is given to the member and ending on the day on which the amount referred to in the description of A is paid (in this subsection referred to as the interest period); and

    [...]


  5. Canadian Payments Association By-law No. 6 — Compliance - SOR/2003-347 (Section 14)
    Canadian Payments Association By-law No. 6 — Compliance
    Marginal note:Experts
    •  (1) The President or compliance panel, as the case may be, may engage legal and other experts. Their reasonable fees and disbursements shall be included in the expenses of the investigation.

    • Marginal note:Record

      (2) Any information or documents provided to the President or compliance panel, as the case may be, by their experts, other than a legal expert, forms part of the record of the investigation.

    [...]



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