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Payment Clearing and Settlement Act (S.C. 1996, c. 6, Sch.)

Act current to 2021-03-23 and last amended on 2019-06-23. Previous Versions

PART IIGeneral (continued)

Participants (continued)

Marginal note:Information

 A participant is not required to provide information to the Bank under this Act concerning another participant of a clearing and settlement system if that information is not available to all the participants.


Marginal note:Regulations

 The Governor in Council may make regulations

  • (a) providing for rules concerning conflicts of interest for the purpose of subsection 11.04(6);

  • (b) respecting resolution plans and the requirement that the Bank develop and maintain them under subsection 11.05(1);

  • (c) respecting what constitutes a service that is critical to the operation of the clearing and settlement system or of the clearing house for the purposes of paragraph 11.07(1)(f);

  • (d) respecting what constitutes a limited clearing member for the purposes of subsection 11.11(4);

  • (e) for the purpose of section 11.18, respecting what constitutes costs of the resolution and the recovery of those costs, including to specify the persons or entities from which costs may be recovered;

  • (f) respecting the compensation for the purposes of sections 11.26 to 11.3, including to

    • (i) prescribe persons or entities referred to in subsection 11.26(1),

    • (ii) provide for the factors that the Bank shall or shall not consider in making a decision under subsection 11.26(1),

    • (iii) provide for the circumstances in which any shares or other right or interest received by another person or entity as a result of an order made under paragraph 11.09(1)(b) or retained by another person or entity may be taken into account in determining the amount of compensation to which a prescribed person or entity is entitled,

    • (iv) prescribe the circumstances in which an assessor must be appointed under section 11.28,

    • (v) provide for the factors that an assessor shall or shall not consider in making a decision, and

    • (vi) provide for procedural requirements;

  • (g) prescribing collateral for the purpose of paragraph (e) of the definition financial collateral in subsection 13(2);

  • (h) respecting what constitutes oversight information for the purposes of sections 18.1 and 18.2;

  • (i) respecting the disclosure of oversight information for the purposes of section 18.1; and

  • (j) respecting the circumstances in which oversight information may be used as evidence for the purposes of subsection 18.2(3).

  • 2012, c. 31, s. 172
  • 2018, c. 12, s. 237
  • 2018, c. 12, s. 242
  • 2018, c. 12, s. 243
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