Canadian Payments Association By-law No. 6 — Compliance

Marginal note:Definitions

• 1 (1) The following definitions apply in this By-law.

  By-law No. 3

  By-law No. 3 means Canadian Payments Association By-law No. 3 — Payment Items and Automated Clearing Settlement System. (Règlement administratif n° 3)

  clearing member

  clearing member means a member that, on behalf of a non-member, exchanges payment items and effects clearing or makes entries into the Automated Clearing Settlement System within the meaning of By-law No. 3. (membre de compensation)

  committee

  committee means a committee established by the Board or a subcommittee of that committee. (comité)

  document

  document includes data stored by electronic means. (document)

  item in dispute

  item in dispute means an item in dispute as defined in Canadian Payments Association Rule A6. (effet contesté)

  non-member

  non-member means a local referred to in subparagraph 6(1)(a)(ii) of Bylaw No. 3. (non-membre)

  party

  party means a party to an investigation under section 10. (partie)

  secretary

  secretary means the secretary of the Association appointed by the Board. (secrétaire)

• Marginal note:Contravention by member

  (2) For the purposes of this By-law, a member commits a contravention when the member fails to comply with a provision of the by-laws or rules that imposes a duty on the member.

• Marginal note:Contravention by non-member

  (3) For the purposes of this By-law, a non-member commits a contravention when the non-member fails to comply with a provision of the by-laws or rules in respect of which a clearing member is responsible for ensuring compliance by the non-member under By-law No. 3.