Canadian Payments Act

Marginal note:By-laws

• 18 (1) The Board may make any by-laws that it considers advisable for the attainment of the objects of the Association, including by-laws

  • (a) providing for eligibility criteria for membership in the Stakeholder Advisory Council or the Member Advisory Council and their number of members;

  • (b) establishing, subject to this Part, requirements for membership in the Association;

  • (c) and (c.1) [Repealed, 2014, c. 39, s. 342]

  • (d) respecting the exchange and clearing of payment items and related matters;

  • (e) respecting settlements and related matters;

  • (f) respecting the payment of dues by the members and the payment of fees for services performed by or on behalf of the Association, and establishing the method of determining the amount of those dues and those fees;

  • (f.1) [Repealed, 2014, c. 39, s. 342]

  • (g) establishing penalties for any failure by members to comply with the by-laws, rules and orders made under the by-laws, except by-laws made under paragraph (k), including penalties that provide for the payment of interest or the making of restitution and procedures in respect of the imposition of those penalties;

  • (h) respecting the authenticity and integrity of payment items and messages;

  • (i) respecting the identification and authentication of members and other persons;

  • (j) limiting the liability of the Association, its members, its employees and other persons for any loss or damage suffered by a member as a result of anything done or omitted to be done in good faith in the administration or discharge of any powers or duties that under a by-law or a rule are intended or authorized to be exercised or performed; and

  • (k) respecting the internal administration of the business of the Association, including

    • (i) the procedures for all business that is conducted at meetings of the Board, the Board’s committees, the Stakeholder Advisory Council or the Member Advisory Council,

    • (ii) the remuneration of directors referred to in paragraph 8(1)(d) and of members of the Stakeholder Advisory Council, and

    • (iii) the procedures for the nomination, selection and appointment of persons to be members of the Stakeholder Advisory Council or the Member Advisory Council.

• Marginal note:Approval

  (2) A by-law, except a by-law made under paragraph (1)(k), shall not come into force unless it is approved by the Minister and, once approved, copies of it must be sent by the President to every member.

• Marginal note:Notice

  (3) The President shall notify the Minister of the making of a by-law under paragraph (1)(k) and shall send copies of the by-law to every member.

• (4) [Repealed, 2014, c. 39, s. 342]