Payment Clearing and Settlement Act

Marginal note:Appointment of assessor

• 11.28 (1) In the circumstances prescribed by the regulations, the Governor in Council shall, by order, appoint as assessor a judge of a superior court to review a determination made by the Bank under subsection 11.26(1).

• Marginal note:Review

  (2) In reviewing the Bank’s determination, the assessor shall decide whether the Bank made its determination based on an erroneous finding of fact that it made in a perverse or capricious manner or without regard for the material before it or on an unreasonable estimate.

• Marginal note:Confirmation of determination

  (3) If the assessor decides that the Bank did not make its determination based on such a finding of fact or on such an estimate, the assessor shall confirm the Bank’s determination.

• Marginal note:Determination of amount

  (4) If the assessor decides that the Bank made its determination based on such a finding of fact or on such an estimate, the assessor shall determine, in accordance with the regulations, the amount of compensation, if any, to be paid to the prescribed person or entity and substitute the assessor’s determination for the Bank’s determination.