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Can you summarize SOR /2016-283?
Consolidated Regulations > Canadian Payments Association By-law No. 2 Finance
Short Summary
This Canadian Payments Association By-law No. 2 Finance governs the financial aspects of the Canadian Payments Association. It applies to members and participants of the association. The by-law defines various terms such as amalgamated member, common services costs, common services dues, direct operating costs, participant, service fees, system, and transaction fees. It outlines the process for calculating common services dues and transaction fees based on the association’s operating budget and capital expenditures budget. The by-law also addresses the payment of dues and fees, including common services dues, transaction fees, and service fees. It further specifies that members who cease to be a member or participants who withdraw from participation are not entitled to reimbursement of any dues or fees paid and remain liable for unpaid amounts. The by-law does not mention any specific exemptions or penalties.
Whom does it apply to?
Members and participants of the Canadian Payments Association
What does it govern?
Canadian Payments Association By-law No. 2 Finance
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Canada