Canadian Payments Association By-law No. 1 — General (SOR/2017-1)

Marginal note:Registration as member

• 2 (1) The Association must register every bank and every authorized foreign bank as a member.

• Marginal note:Information required

  (2) Every bank, on the day on which it comes into existence, and every authorized foreign bank, on the effective date of the order permitting it to establish a branch in Canada under subsection 524(1) of the Bank Act, must provide the Association with the following:

  • (a) its name and the date on which and method by which it came into existence;

  • (b) the date on which it intends to commence operations;

  • (c) the address of its head office or another address — including an email address — designated by it as its address for the delivery of notices;

  • (d) the name and address of its president or chief executive officer;

  • (e) the names and addresses of its directors and senior officers;

  • (f) a certified copy of its incorporating instrument or letters patent;

  • (g) a certified copy of its by-laws;

  • (h) a copy of its audited financial statements for the last five fiscal years, or for all of its fiscal years if it has existed for less than five years;

  • (i) its authorization for the Association to contact and to receive information about it from the Office of the Superintendent of Financial Institutions and, in the case of an authorized foreign bank, the regulatory authority in the foreign country in which it was incorporated or formed; and

  • (j) its agreement to provide any other information about it that may be required by the Association in connection with the objects, business or affairs of the Association.