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Can you summarize SOR /2015-130?
Consolidated Regulations > Canadian Payments Association Reporting Requirements Regulations
Short Summary
The Canadian Payments Association Reporting Requirements Regulations, enacted under the Canadian Payments Act, govern the reporting requirements for the Canadian Payments Association. The regulations require the Association to prepare a five-year corporate plan, which includes operating and capital expenditures budgets, forecasts, audited financial statements, and explanations of any major variances. The Board of the Association must submit the plan to the Minister for approval and any significant amendments must also be approved. Additionally, the regulations stipulate that the Association must prepare and publish an annual report within five months after the end of the fiscal year. These regulations came into force on June 5, 2015.
Whom does it apply to?
The Canadian Payments Association
What does it govern?
Canadian Payments Association Reporting Requirements
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Canada