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Canadian Payments Act

Version of section 19 from 2007-04-20 to 2010-02-28:


Marginal note:Rules

  •  (1) Subject to the by-laws, the Board may make such rules as it considers necessary for the attainment of the objects of the Association and, without limiting the generality of the foregoing, may make rules

    • (a) respecting payment items acceptable for exchange, clearing or settlement;

    • (b) establishing standards and procedures in respect of the exchange and clearing of payment items;

    • (b.1) respecting the destruction of payment items;

    • (c) respecting settlements and related matters;

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

    • (e) respecting the identification and authentication of members and other persons.

  • Marginal note:Power of Chairperson

    (2) Where a question arises at a meeting of the Board or Executive Committee as to whether or not a proposed rule is in conformity with the by-laws, the Chairperson shall decide and the decision of the Chairperson is final.

  • Marginal note:Rules to be available

    (3) The Association shall make a copy of every rule available to members in the manner determined by the General Manager.

  • Marginal note:Copies of rules to be sent to Minister

    (4) A copy of every rule shall be sent to the Minister within ten days after it is made.

  • R.S., 1985, c. C-21, s. 19
  • 2001, c. 9, ss. 234, 245(E)
  • 2007, c. 6, s. 430
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