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Can you summarize SOR /2001-476?
Consolidated Regulations > Canadian Payments Association Membership Requirements Regulations
Short Summary
The Canadian Payments Association Membership Requirements Regulations govern the requirements for membership in the Canadian Payments Association. The regulations apply to persons referred to in paragraph 4(2)(a) and 4(2)(e) of the Canadian Payments Act. For persons referred to in paragraph 4(2)(a) (excluding centrals, trust companies, and loan companies), the requirement for membership is that there are deposits made with them that are insured or guaranteed under a federal or provincial statute. For persons referred to in paragraph 4(2)(e), the requirement for membership is that they are a member of the Investment Dealers Association of Canada or the Bourse de Montreal. The regulations came into force on November 7, 2001.
Whom does it apply to?
Persons referred to in paragraph 4(2)(a) and 4(2)(e) of the Canadian Payments Act
What does it govern?
Canadian Payments Association Membership Requirements
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Canada