Government of Canada / Gouvernement du Canada
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Canadian Payments Act

Version of section 18 from 2012-05-24 to 2015-06-03:

Marginal note:By-laws

  •  (1) The Board may make such by-laws as it considers necessary for the attainment of the objects of the Association and in particular, but without limiting the generality of the foregoing, may make by-laws

    • (a) respecting the procedure in all business at meetings of the Board, or its committees;

    • (b) establishing, subject to this Part, requirements for membership in the Association;

    • (c) for the administration and management of the business of the Association;

    • (c.1) respecting the remuneration of directors appointed under subsection 9(1.1);

    • (d) respecting the exchange and clearing of payment items and related matters;

    • (e) respecting settlements and related matters;

    • (f) respecting the payment of dues by the members and establishing the method of determining the amount of those dues;

    • (f.1) respecting the payment of fees for services performed by or on behalf of the Association and establishing the method of determining the amount of those fees;

    • (g) establishing penalties for any failure by members to comply with the by-laws, rules and orders made under the by-laws, including penalties that provide for the payment of interest or the making of restitution, and procedures in respect of the imposition of those penalties;

    • (h) respecting the authenticity and integrity of payment items and messages;

    • (i) respecting the identification and authentication of members and other persons;

    • (j) limiting the liability of the Association, its members, its employees and other persons for any loss or damage suffered by a member as a result of anything done or omitted to be done in good faith in the administration or discharge of any powers or duties that under a by-law or a rule are intended or authorized to be exercised or performed; and

    • (k) respecting the nomination, selection and appointment of persons to be members of the Stakeholder Advisory Council.

  • Marginal note:Approval

    (2) Subject to subsections (3) and (4), a by-law is not effective until approved by the Minister and when so approved must be published in the Canada Gazette and copies of the by-law must be sent to every member by the President.

  • Marginal note:Approval of by-laws establishing penalties

    (3) A by-law establishing a penalty shall not be submitted to the Minister for approval until it has been submitted for approval to the members and approved by them at a meeting of members.

  • Marginal note:Voting on by-law establishing penalty

    (4) Every member is entitled, on a resolution to approve a by-law establishing a penalty, to one vote for each dollar that the member is required to contribute as dues under the by-laws.

  • R.S., 1985, c. C-21, s. 18
  • 2001, c. 9, s. 233
  • 2007, c. 6, s. 429
  • 2012, c. 5, s. 208
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