Government of Canada / Gouvernement du Canada
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Payment Clearing and Settlement Act

Version of section 12 from 2003-01-01 to 2014-12-15:

Marginal note:To act as custodian, etc.

 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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