Canadian Payments Association Membership Requirements Regulations (SOR/2001-476)

Regulations are current to 2019-07-01

Canadian Payments Association Membership Requirements Regulations

SOR/2001-476

CANADIAN PAYMENTS ACT

Registration 2001-11-01

Canadian Payments Association Membership Requirements Regulations

P.C. 2001-2020  2001-11-01

Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsection 35(1)Footnote a of the Canadian Payments ActFootnote b, hereby makes the annexed Canadian Payments Association Membership Requirements Regulations.

Membership Requirements

Marginal note:Requirement to be met

 A requirement for membership in the Association that is to be met by a person referred to in paragraph 4(2)(a) of the Canadian Payments Act — other than a central, a trust company or a loan company — is that there are deposits made with it that are insured or guaranteed under a federal or provincial statute.

Marginal note:Requirement to be met

 A requirement for membership in the Association that is to be met by a person referred to in paragraph 4(2)(e) of the Canadian Payments Act is that the person is a member of the Investment Dealers Association of Canada or the Bourse de Montréal.

Coming into Force

Marginal note:Coming into force

 These Regulations come into force on November 7, 2001.

 
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