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Payment Clearing and Settlement Act

Version of section 15 from 2012-05-24 to 2014-12-15:


Marginal note:Compliance orders

 If a clearing house or a participant fails to comply with a provision of this Act, with a directive issued to it by the Governor of the Bank in connection with any matter under this Act or with an agreement that it has entered into under section 5, or if a person to whom a request referred to in subsection 14(1) is directed fails to comply with the request, the Bank or the Governor may apply to a superior court for an order directing the clearing house, participant or person, as the case may be, to comply with the provision, directive, agreement or request and, on the application, the court may so order and make any further order it thinks fit.

  • 1996, c. 6, s. 162 (Sch., s. 15)
  • 2012, c. 5, s. 214
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