Canadian Payments Association By-law No. 6 — Compliance (SOR/2003-347)

AMENDMENTS NOT IN FORCE

• — SOR/2026-133, s. 49

  • • 49 (1) The definition clearing member in subsection 1(1) of the Canadian Payments Association By-law No. 6 — ComplianceFootnote ¹ is replaced by the following:

      • Return to footnote ¹SOR/2003-347

      clearing member

      clearing member means a member that, on behalf of a non-member,

      • (a) exchanges payment items and effects clearing or makes entries into the Automated Clearing Settlement System as defined in section 1 of By-law No. 3; or

      • (b) exchanges payment items in the RTR system as defined in subsection 1(1) of By-law No. 10. (membre de compensation)

    • (2) Subsection 1(1) of the By-law is amended by adding the following in alphabetical order:

      By-law No. 10

      By-law No. 10 means Canadian Payments Association By-law No. 10 — RTR. (Règlement administratif n° 10)

    • (3) Subsection 1(3) of the By-law is replaced by the following:

      • Contravention by non-member

        (3) For the purposes of this By-law, a non-member commits a contravention when the non-member fails to comply with a provision of the by-laws or rules in respect of which a clearing member is responsible for ensuring compliance by the non-member under By-law No. 3 or By-law No. 10.