Retail Payment Activities Regulations (SOR/2023-229)

Marginal note:Records

40 A payment service provider must keep, in a form that is intelligible to the Bank, sufficient records to demonstrate its compliance with the Act and these Regulations and, subject to any undertaking provided for the purpose of section 42 of the Act or any condition imposed under section 43 of the Act, must retain the records until the day that is five years after the day on which the payment service provider’s current compliance with the Act and Regulations ceases to be demonstrated by the records.