Payment Clearing and Settlement Act (S.C. 1996, c. 6, Sch.)

Marginal note:Governor or Bank may issue

17. The Governor of the Bank or the Bank may issue guidelines in respect of any matter relating to the administration or enforcement of this Act.

Marginal note:Information, etc., confidential

• 18. (1) Information and documents obtained under this Act are confidential and shall be treated accordingly.

• Marginal note:Disclosure permitted

  (2) Nothing in subsection (1) prevents the Bank from disclosing any information or documents

  • (a) to any government agency or regulatory body, charged with the regulation of

    • (i) financial institutions, as defined in section 2 of the Trust and Loan Companies Act, for purposes related to that regulation, or

    • (ii) entities that provide clearing or settlement services in connection with securities transactions or eligible financial contracts, for purposes related to that regulation, and

  • (b) to the Deputy Minister of Finance or any officer of the Department of Finance authorized in writing by the Deputy Minister of Finance or to the Chairperson of the Canada Deposit Insurance Corporation or any officer of that Corporation authorized in writing by the Chairperson,

  if the Bank is satisfied that the information or documents will be treated as confidential by the agency, body or person to whom they are disclosed.

• Marginal note:Disclosure permitted

  (3) Nothing in subsection (1) prevents the Bank from disclosing any information or documents pertaining to a clearing and settlement system that the Bank has designated under subsection 4(1) to any government agency or regulatory body charged with the regulation of systems or arrangements for the clearing or settlement of payment obligations or payment messages, for purposes related to that regulation, if the Bank is satisfied that the information or documents will be treated as confidential by the agency or body to whom they are disclosed.

Marginal note:Not statutory instruments

19. A designation under subsection 4(1) or a directive issued under this Act is not a statutory instrument for the purposes of the Statutory Instruments Act.

Marginal note:No liability if in good faith

20. No action lies against Her Majesty, the Minister, the Bank, any officer, employee or director of the Bank or any person acting under the direction of the Governor of the Bank 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.