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Retail Payment Activities Act (S.C. 2021, c. 23, s. 177)

Act current to 2022-06-20

PART 3Registration (continued)

Revocation of Registration (continued)

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Marginal note:Review of notice of intent

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     (1) A registered payment service provider that has been notified under section 52 may, within the prescribed period, make a request to the Governor for a review of the notice of intent.

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    Marginal note:Decision

    (2) On completion of the review, the Governor must, after giving the payment service provider an opportunity to make representations, direct the Bank to either withdraw the notice of intent or revoke the payment service provider’s registration.

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    Marginal note:Form and manner of decision

    (3) The Governor must, within the prescribed period, make a decision and must, as soon as feasible, notify the payment service provider in writing of the decision.

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Marginal note:Review not requested

 If a registered payment service provider that has been notified under section 52 does not make a request to the Governor for a review of the notice of intent within the prescribed period, the Governor may direct the Bank to revoke the payment service provider’s registration.

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Marginal note:Revocation of registration for non-payment of penalty

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     (1) The Bank must revoke the registration of a registered payment service provider if the payment service provider does not have a place of business in Canada, has committed a violation under this Act and is liable to pay a penalty for it, and the penalty has not been paid within 30 days after the day on which all proceedings in respected of the violation are ended.

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    Marginal note:Notice to payment service provider

    (2) The Bank must, as soon as feasible, notify the payment service provider in writing of the revocation under subsection (1).

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Marginal note:Directed revocation of registration

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     (1) The Bank must revoke the registration of a registered payment service provider if the Minister directs the Bank to do so under subsection 46(2) or section 47.

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    Marginal note:Notice to payment service provider

    (2) The Bank must, as soon as feasible, notify the payment service provider in writing of the revocation under subsection (1).

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Marginal note:Notice to Centre

 The Bank must, as soon as feasible, notify the Centre in writing of any revocation of a payment service provider’s registration.

Appeal to Federal Court

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Marginal note:Right of appeal

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     (1) An applicant or payment service provider that has been notified under subsection 50(3) or 53(3) may, within the prescribed period or within any longer period that the Federal Court allows, appeal the decision to that Court.

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    Marginal note:Powers of Federal Court

    (2) The Federal Court may

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      (a) dismiss the appeal;

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      (b) set aside the decision and, as applicable, order the Bank to register the applicant or to reinstate the payment service provider’s registration; or

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      (c) set aside the decision and refer the matter back to the Governor for re-determination.

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    Marginal note:Conflict

    (3) If there is a conflict between an order under paragraph (2)(b) and a directive under section 40, subsection 46(2) or section 47, the directive prevails.

Provision of Information

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Marginal note:Notice of change in information

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     (1) A registered payment service provider must notify the Bank of any change to the information referred to in any of paragraphs 29(1)(a) to (e), (k) and (m) to (o). The notice must include the updated information, be given within the prescribed period and be in the prescribed form and manner.

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    Marginal note:Exception

    (2) The payment service provider is not however required to notify the Bank if the information in question was included in a notice under section 60.

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Marginal note:Notice of change in prescribed information

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     (1) A registered payment service provider must notify the Bank of any change to prescribed information in relation to the payment service provider or the retail payment activities the payment service provider performs.

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    Marginal note:Timing of notice

    (2) The notice must be given as soon as feasible after the payment service provider becomes aware of the change but before the change takes effect. However, if a different period is prescribed for the purposes of this subsection, the notice must be given within that period.

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    Marginal note:Notice to Minister

    (3) The Bank must, as soon as feasible, notify the Minister and any designated person or government authority of any notice given under subsection (1).

Marginal note:False or misleading information

 An individual or entity must not provide false or misleading information to the Bank, the Minister or a person or government authority designated under section 32.

PART 4Confidentiality of Information

Marginal note:Information obtained by Bank

  •  (1) Subject to subsections (2) and (3), information that the Bank obtains under this Act and any information prepared from that information is confidential and the Bank must treat it accordingly.

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    Marginal note:Disclosure permitted — sections 26, 27 and 93

    (2) The Bank may disclose information obtained under this Act if it is required to make the information public under section 26 or does so under section 27 or 93.

  • Marginal note:Disclosure permitted — entities

    (3) Subject to subsection (4), the Bank may disclose information obtained under this Act to the Minister or to any government authority or regulatory body if it agrees to treat the information as confidential.

  • Marginal note:Consent required

    (4) The Bank must not disclose information obtained from the Centre without the Centre’s consent.

Marginal note:Information obtained by Minister

  •  (1) Subject to subsection (2), information that is obtained under this Act by the Minister or by a person or government authority designated under section 32 as well as any information prepared from that information is confidential and the Minister or the designated person or government authority must treat it accordingly.

  • Marginal note:Disclosure permitted — entities

    (2) The Minister or the designated person or government authority may disclose information obtained under this Act to any government authority or regulatory body that agrees to treat the information as confidential.

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Marginal note:Evidentiary privilege

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     (1) Prescribed information in relation to the supervision of payment service providers must not be used as evidence in any civil proceedings and is privileged for that purpose.

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    Marginal note:No testimony or production

    (2) An individual or entity must not by an order of any court, tribunal or other body be required in any civil proceedings to give oral testimony or to produce any document relating to any information referred to in subsection (1).

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    Marginal note:Exception to subsection (1)

    (3) Despite subsection (1), the Minister, the Governor, the Bank or the Attorney General of Canada may, in accordance with the regulations, use information referred to in that subsection as evidence in any proceedings.

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    Marginal note:Exception to subsection (1)

    (4) Despite subsection (1), a payment service provider may, in accordance with the regulations, use information referred to in that subsection as evidence in any proceedings in relation to the administration or enforcement of this Act, the Bankruptcy and Insolvency Act or the Companies’ Creditors Arrangement Act that are commenced by the payment service provider, the Minister, the Governor, the Bank or the Attorney General of Canada.

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    Marginal note:Exceptions to subsections (1) and (2)

    (5) Despite subsections (1) and (2), a court, tribunal or other body may, by order, require the Minister, the Governor, the Bank or a payment service provider to give oral testimony or to produce any document relating to any information referred to in subsection (1) in any civil proceedings in relation to the administration or enforcement of this Act that are commenced by the Minister, the Governor, the Bank, the Attorney General of Canada or a payment service provider.

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    Marginal note:No waiver

    (6) The disclosure of any information referred to in subsection (1), other than under subsection (3), (4) or (5), does not constitute a waiver of the privilege referred to in subsection (1).

PART 5Administration and Enforcement

Bank’s Powers

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Marginal note:Information request — payment service provider

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     (1) The Bank may request, in writing, a payment service provider that performs retail payment activities to provide, within the prescribed period, the Bank with any information that the Bank considers necessary for a purpose related to verifying compliance with this Act or carrying out the Bank’s objects under this Act.

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    Marginal note:Compliance with request

    (2) The payment service provider must comply with the request.

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Marginal note:Information request — individual or entity

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     (1) For the purpose of verifying compliance with this Act, the Bank may, if it has reasonable grounds to believe that an individual or entity is a payment service provider that performs retail payment activities, request in writing, the individual or entity to provide the Bank with any information that the Bank requires to determine whether the individual or entity is a payment service provider that performs retail payment activities.

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    Marginal note:Compliance with request

    (2) The individual or entity must comply with the request within the prescribed period.

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Marginal note:Special audit

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     (1) The Bank may direct that a special audit of a payment service provider that performs retail payment activities be conducted in accordance with any conditions that the Bank considers appropriate if, in the Bank’s opinion, the special audit is required for the purpose of verifying compliance with this Act and the Bank may appoint an individual or entity to conduct the special audit.

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    Marginal note:Duty to assist

    (2) The payment service provider must give all assistance that is reasonably required to enable the appointed individual or entity to conduct the special audit and must provide any documents or information and access to any data that are specified by the individual or entity.

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    Marginal note:Report to Bank

    (3) The payment service provider must provide the Bank with the results of the special audit.

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    Marginal note:Expenses

    (4) The expenses incurred in respect of the special audit are payable by the payment service provider.

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Marginal note:Designation

 The Governor may designate persons or classes of persons as authorized persons for the purposes of sections 69 and 70.

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Marginal note:Powers — authorized person

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     (1) An authorized person may, from time to time, examine the records and inquire into the business and affairs of a payment service provider that performs retail payment activities for the purpose of verifying compliance with this Act and for that purpose may

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      (a) enter any place, other than a dwelling-house, in which the authorized person has reasonable grounds to believe that there are records relevant to verifying compliance with this Act;

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      (b) use any computer system in the place, or cause it to be used, to examine data contained in or available to it;

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      (c) reproduce any record, or cause it to be reproduced from the data, in the form of a printout or other intelligible output and remove the printout or other output for examination or copying; or

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      (d) use any copying equipment in the place or cause it to be used.

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    Marginal note:Duty to assist

    (2) The owner or person in charge of the place and every person in the place must give all assistance that is reasonably required to enable the authorized person to perform their functions under this section and must provide any documents or information and access to any data that are specified by the authorized person.

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Marginal note:Warrant to enter dwelling-house

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     (1) If the place is a dwelling-house, an authorized person may enter it without the occupant’s consent only under the authority of a warrant issued under subsection (2).

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    Marginal note:Authority to issue warrant

    (2) On ex parte application, a justice of the peace may issue a warrant authorizing an authorized person to enter a dwelling-house, subject to any conditions specified in the warrant, if the justice is satisfied by information on oath that

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      (a) the dwelling-house is a place referred to in paragraph 69(1)(a);

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      (b) entry to the dwelling-house is necessary for a purpose related to verifying compliance with this Act; and

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      (c) entry was refused by the occupant or there are reasonable grounds to believe that entry will be refused by, or that consent to entry cannot be obtained from, the occupant.

 
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