Canadian Payments Association By-law No. 2 — Finance

Marginal note:First year of membership

• 4 (1) A new member, other than an amalgamated member or a member that is designated as a bridge institution under the Canada Deposit Insurance Corporation Act, must, in respect of its first year of membership, pay the full amount of the common services dues for the fiscal year in which it became a member.

• Marginal note:Amalgamated member

  (2) An amalgamated member formed in a fiscal year must pay the common services dues, transaction fees and service fees for the fiscal year in an amount that is the sum of all the combined unpaid common services dues, transaction fees and service fees of the members and non-members that were amalgamated or merged.

• Marginal note:Change of name

  (3) For greater certainty, a member that changes its name, other than as part of a merger or amalgamation, is not a new member.