Canadian Payments Association Membership Requirements Regulations

Link to law: http://laws-lois.justice.gc.ca/eng/regulations/SOR-2001-476/FullText.html

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Canadian Payments Association Membership Requirements Regulations

SOR/2001-476CANADIAN PAYMENTS ACT
Registration 2001-11-01
Canadian Payments Association Membership Requirements Regulations
P.C. 2001-2020  2001-11-01Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsection 35(1)Footnote a of the Canadian Payments ActFootnote b, hereby makes the annexed Canadian Payments Association Membership Requirements Regulations.

Return to footnote aS.C. 2001, c. 9, s. 243
Return to footnote bS.C. 2001, c. 9, s. 218
Membership Requirements

Marginal note:Requirement to be met

1 A requirement for membership in the Association that is to be met by a person referred to in paragraph 4(2)(a) of the Canadian Payments Act — other than a central, a trust company or a loan company — is that there are deposits made with it that are insured or guaranteed under a federal or provincial statute.

Marginal note:Requirement to be met

2 A requirement for membership in the Association that is to be met by a person referred to in paragraph 4(2)(e) of the Canadian Payments Act is that the person is a member of the Investment Dealers Association of Canada or the Bourse de Montréal.

Coming into Force

Marginal note:Coming into force

3 These Regulations come into force on November 7, 2001.