Bill C-8
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PART 2 |
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DESIGNATED PAYMENT SYSTEMS |
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Interpretation |
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Definitions
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36. The definitions in this section apply in
this Part.
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``designated
payment
system'' « système de paiement désigné »
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``designated payment system'' means a
payment system designated under
subsection 37(1).
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``participant'' « participant »
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``participant'' means a party to an
arrangement in respect of a payment
system.
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``payment
system'' « système de paiement »
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``payment system'' means a system or
arrangement for the exchange of messages
effecting, ordering, enabling or facilitating
the making of payments or transfers of
value.
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``rule'' « règle »
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``rule'' means a rule, by whatever name
called, that governs a designated payment
system. It includes an amendment to or a
repeal of a rule.
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Application |
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Application
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36.1 This Part does not apply to the
Association.
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Designation |
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Designation
by Minister
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37. (1) The Minister may, if he or she
considers that it is in the public interest to do
so, designate a payment system that in the
opinion of the Minister
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Factors
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(2) The following factors shall be
considered in a determination of whether it is
in the public interest to designate a payment
system:
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Consultation
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(3) Before a payment system is designated,
the Minister shall consult the manager and the
participants of the payment system and may
consult interested parties, with respect to the
effect of the designation.
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Notice
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(4) The Minister shall notify the manager
and the participants of a designated payment
system in any manner that the Minister
considers appropriate.
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Designation
not statutory
instrument
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(5) A designation is not a statutory
instrument for the purposes of the Statutory
Instruments Act. However, it must be
published in the Canada Gazette.
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Rules |
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Copies of
rules to be
sent to
Minister
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38. (1) A copy of every rule governing a
designated payment system shall be sent by
the manager of the designated payment
system or, if there is none, by the participants
to the Minister
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Effective date
of rule
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(2) A rule, other than a rule referred to in
paragraph (1)(a), does not come into force
before the thirtieth day after a copy of it is sent
to the Minister under subsection (1), but the
Minister may declare the rule to be in force at
any time before that period expires.
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Extension of
time
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(3) If the Minister is of the opinion that an
extension of the period mentioned in
subsection (2) is necessary to permit adequate
review of a rule, the Minister may within 10
days after its receipt, on written notice to the
sender of the rule, extend that period by up to
30 days.
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Disallowance
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(4) The Minister may disallow the whole or
a part of a rule.
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Exemption
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(5) The Minister may exempt a designated
payment system from the application of
subsection (2).
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Guidelines and Directives |
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Minister may
issue
guidelines
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39. (1) The Minister may issue guidelines in
respect of any matter relating to the
administration or enforcement of this Part.
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Guidelines
public
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(2) Guidelines shall be made available to
the public and the Minister shall give notice of
them in any manner that the Minister
considers appropriate.
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Minister may
issue directive
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40. (1) The Minister may issue a written
directive to the manager or a participant of a
designated payment system in respect of
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Consultation
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(2) Before giving a directive, the Minister
shall consult the person to whom it is to be
given, and may consult any interested party,
with respect to the content and effect of the
directive.
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Content
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(3) The Minister may specify in a directive
that a manager of a designated payment
system or a participant shall, within such time
as the Minister considers necessary,
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Notification
of
implementa- tion
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(4) As soon as is practicable after
implementing a directive and completing any
actions required to be taken in connection with
it, the person to whom it is given shall notify
the Minister that the directive has been
implemented and the action completed.
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Directive not
statutory
instrument
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(5) A directive is not a statutory instrument
for the purposes of the Statutory Instruments
Act. However, it must be published in the
Canada Gazette.
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Duty to
comply
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(6) A directive is binding on the person to
whom it is given.
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Information Requirements |
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Information
requests
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41. (1) If the Minister requires information
in order to determine whether a payment
system should be designated under subsection
37(1), the Minister may request that the
manager of the payment system or a
participant provide the Minister with any
information and documents regarding the
system that the Minister may require.
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Ongoing
information
requests
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(2) Every manager of a designated payment
system or, if there is none, the participants
shall, in respect of the designated payment
system, provide the Minister with such
information and documents as the Minister
may from time to time request.
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Compliance
with request
required
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(3) Every person to whom a request is
directed shall comply with the request.
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Participants |
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Responsibi- lity if foreign system manager
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42. (1) If a designated payment system does
not have a Canadian manager, the Canadian
participants
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in the same manner and to the same extent as
if the Canadian participants were the manager
of the designated payment system on which
those obligations and rights are imposed or
conferred and, for that purpose, any action that
the Minister may take in respect of the
manager of the designated payment system
may only be taken in respect of its Canadian
participants.
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Failure to
comply of
system
manager
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(2) If a manager of a designated payment
system fails to comply with the obligations
imposed on it under this Part in respect of the
designated payment system or otherwise
contravenes this Part, the participants jointly
and severally shall comply with those
obligations or are liable for the contravention
in the same manner and to the same extent as
the manager.
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Interpreta- tion
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(3) In subsection (1), a manager of a
designated payment system or a participant is
``Canadian'' if the manager or participant is
incorporated or formed under the laws of
Canada or a province.
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PART 3 |
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GENERAL |
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Information is
confidential
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43. (1) Information and documents
obtained under this Act are confidential and
shall be treated accordingly.
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Disclosure
permitted
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(2) Nothing in subsection (1) prevents the
Minister from disclosing any information or
documents to
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if the Minister is satisfied that the information
or documents will be treated as confidential by
the agency, body or person to whom they are
disclosed.
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No liability if
in good faith
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44. No action lies against Her Majesty, the
Minister, any officer or employee of the
Department of Finance or any person acting
under the direction of the Minister for
anything done or omitted to be done in good
faith in the administration or discharge of any
powers or duties that under this Act are
intended or authorized to be executed or
performed.
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Compliance
orders
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45. If a person fails to comply with a
provision of this Act or a directive issued to it
by the Minister under subsection 19.3(1) or
40(1) in connection with any matter under this
Act, or a person to whom a request referred to
in section 41 is directed fails to comply with
the request, the Minister may apply to a
superior court for an order directing the person
to comply with the provision, directive or
request and, on the application, the court may
so order and make any further order it thinks
fit.
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No stay on
judicial
review
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46. On an application for judicial review
under the Federal Court Act of a designation
under subsection 37(1) or of a directive issued
under subsection 19.3(1) or 40(1), no stay of
the designation or directive shall be granted
pending the final disposition of the
application.
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Offence and
punishment
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47. Every person who, without reasonable
cause, contravenes any provision of this Act is
guilty of an offence and
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Replacement
of
``Chairman''
with
``Chairperson'
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245. The English version of the Act is
amended by replacing the word
``Chairman'' with the word ``Chairperson''
wherever it occurs in the following
provisions:
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Change of
headings
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246. The headings before sections 5, 7, 8,
16, 17, 22, 25, 26, 29, 31, 34 and 35 of the Act
are converted from roman to italic type to
conform with the format of the new Parts
enacted by this Act.
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Chairperson
continued
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247. (1) The person who holds the office
of Chairperson of the Board of the
Canadian Payments Association
immediately before section 8 of the
Canadian Payments Act, as amended by
section 218 of this Act, comes into force
continues in office as the Chairperson of the
Board for the remainder of the term for
which that person was appointed
Chairperson.
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Directors
continued
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(2) Each person who holds office as a
director of the Canadian Payments
Association immediately before the day
subsection 9(2) of the Canadian Payments
Act, as amended by subsection 219(2) of this
Act, comes into force ceases to hold office at
the close of the next annual meeting of the
members of the Association that is held
after the coming into force of that
subsection. The new directors of the Board
shall be elected at that meeting.
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Validité des
règles
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247.1 Every rule of the Canadian
Payments Association made under the
Canadian Payments Association Act before
the coming into force of subsection 2(3) of
that Act, as enacted by section 219 of this
Act, is deemed to have come into force on
the day the rule was made.
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