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

Marginal note:Objects

• 12 (1) The Bank’s objects under this Act are to

  • (a) supervise payment service providers that perform retail payment activities in order to determine whether those payment service providers are in compliance with this Act;

  • (b) promote the adoption by those payment service providers of policies and procedures that are designed to implement their obligations under this Act; and

  • (c) monitor and evaluate trends and issues related to retail payment activities.

• Marginal note:Duty of Bank

  (2) In pursuing these objects, the Bank must consider the efficiency of payment services and the interests of end users.