By-law No. 7 Respecting the Large Value Transfer System

15 (1) The Board may at any time revoke the participant status of a participant, except the Bank of Canada, if that participant

• (a) does not at all times comply with paragraph 13(a); or

• (b) in the Board’s opinion, fails to meet or continue to meet the criteria for participant eligibility set out in paragraph 13(b).

(2) The General Manager shall, as soon as reasonably practicable, notify all participants of the name of any participant that has had its participant status revoked.