Payment Clearing and Settlement Act
Marginal note:To act as custodian, etc.
12 The Bank may do all or any of the following things in relation to a clearing and settlement system and its clearing house:
(a) be a participant and participate in the loss-sharing mechanism;
(b) act as a custodian of financial assets or act as a settlement agent, or both; and
(c) notwithstanding section 23 of the Bank of Canada Act, accept and pay interest on deposits from the clearing house, a participant or the central counter-party.
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