Canadian Payments Association By-law No. 3 — Payment Items and Automated Clearing Settlement System
Version of section 30 from 2020-07-16 to 2024-10-30:
Marginal note:Revocation of status
30 (1) The Board may revoke the group clearer status of a member if that member no longer complies with the requirements set out in paragraph 26(a), (b) or (d) or, in the case of a group referred to in paragraph 28(1)(b), the contractual commitments referred to in paragraph 29(2)(c) no longer ensure the ability of the member to satisfy its liability as group clearer.
Marginal note:Notification of revocation
(2) The President shall, as soon as practicable, notify all members of the revocation.
- SOR/2010-43, s. 60
- SOR/2012-161, s. 7
- SOR/2020-167, s. 6
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