Canadian Payments Act

Marginal note:Regulations by Governor in Council

• 35 (1) The Governor in Council may make regulations

  • (a) providing for the mandate of committees established under section 20 or 21, eligibility criteria for membership in those committees and their number of members;

  • (b) respecting the election of directors of the Association, including the eligibility of persons to be elected as directors, and defining independent for the purposes of paragraph 8(1)(d);

  • (c) prescribing the form and content of the Association’s corporate plans and annual reports, and the time and manner in which they must be prepared or submitted;

  • (d) establishing requirements for membership in the Association to be met by persons or classes of persons;

  • (e) respecting the conditions that a money market mutual fund must satisfy; and

  • (f) generally, for carrying out the purposes and provisions of this Part.

• (2) [Repealed, 2014, c. 39, s. 356]