SOR/2001-476200111

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CANADIAN PAYMENTS ACTCanadian Payments Association Membership Requirements RegulationsP.C.2001-2020  200111

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Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsection 35(1)a of the Canadian Payments Actb, hereby makes the annexed Canadian Payments Association Membership Requirements Regulations.aS.C. 2001, c. 9, s. 243bS.C. 2001, c. 9, s. 218Membership Requirements

Requirement to be met1A 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.

Requirement to be met2A 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

Coming into force3These Regulations come into force on November 7, 2001.