GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Financial Consumer Protection Framework Regulations — (a)
An institution that has communicated with a debtor in respect of the collection of a debt may not communicate with the debtor again in the course of that collection (a) by a means other than in writing, if the debtor makes a written request by registered mail to the institution to communicate with the debtor only in writing in that regard and provides an address at which they may be contacted; (b) by a means other than through the debtor’s legal advisor, if the debtor makes a written request to the institution to communicate with the debtor in that regard only through the debtor’s legal advisor and provides a telephone number and an address for the legal advisor; or (c) without the debtor’s consent, if the debtor notifies the institution by registered mail that the debt is in dispute and that they intend to take the matter before a dispute resolution body or that they are prepared for the institution to take the matter to court.
Financial Consumer Protection Framework Regulations — (a)
(a) by a means other than in writing, if the debtor makes a written request by registered mail to the institution to communicate with the debtor only in writing in that regard and provides an address at which they may be contacted;
Financial Consumer Protection Framework Regulations — (b)
(b) by a means other than through the debtor’s legal advisor, if the debtor makes a written request to the institution to communicate with the debtor in that regard only through the debtor’s legal advisor and provides a telephone number and an address for the legal advisor; or
Financial Consumer Protection Framework Regulations — (c)
(c) without the debtor’s consent, if the debtor notifies the institution by registered mail that the debt is in dispute and that they intend to take the matter before a dispute resolution body or that they are prepared for the institution to take the matter to court.
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
The Board of Directors of the Canadian Payments Association, pursuant to subsection 18(1) a of the Canadian Payments Act b , makes the annexed Canadian Payments Association By-law No. 9 — Lynx .
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
Ottawa, April 9, 2021 Eileen Mercier Chairperson of the Board of Directors of the Canadian Payments Association
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
The Minister of Finance, pursuant to subsection 18(2) c of the Canadian Payments Act b , approves the annexed Canadian Payments Association By-law No. 9 — Lynx made by the Board of Directors of the Canadian Payments Association.
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
Ottawa, August 5, 2021 Chrystia Freeland Minister of Finance
Canadian Payments Association By-law No. 9 — Lynx — 1
réel ) receiving participant means a participant who receives a payment message from another participant. ( participant destinataire ) reserved collateral mechanism means the settlement mechanism that is used only to settle Lynx payment obligations that are between the Bank and a participant and for which the payee is CDS Clearing and Depository Services Inc., a corporation incorporated under the Canada Business Corporations Act . ( mécanisme de garantie réservée ) Rules means the rules made by the Board respecting Lynx. ( règles ) sending participant means a participant who sends a payment message to another participant. ( participant expéditeur ) settlement instructions means information contained in a payment message that sets out a Lynx payment obligation and the details necessary for it to be settled through Lynx. ( instructions de règlement ) settlement mechanism means a mechanism in Lynx that is used to settle Lynx payment obligations. ( mécanisme de règlement )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
Act means the Canadian Payments Act . ( Loi )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
Bank means the Bank of Canada. ( Banque )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
business day has the same meaning as in the Rules. ( jour ouvrable )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
collateral means a form of collateral that is identified by the Bank in written communications with members as an acceptable form of security for funds loaned or advanced to the member by the Bank. ( garantie )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
conditional release mechanism means a mechanism in Lynx in which settlement instructions are temporarily held before being sent to a settlement mechanism or being rejected. ( mécanisme de déblocage conditionnel )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
entry means, in respect of an entry to a Lynx account or an intraday loan account, an entry on the books of the Bank. ( écriture )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
finalization window means the final window of the payments processing cycle. ( période de clôture )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
financial message service provider means a person who, or an entity that, provides an electronic message service that allows members to exchange financial information, but does not include the Association or a member. ( fournisseur de service de messagerie financière )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
intraday loan means a loan made by the Bank to a participant in accordance with subsection 22 (1). ( prêt intrajournalier )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
intraday loan account means an account on the books of the Bank that a participant has in Lynx and to which the Association makes entries respecting the making and repayment of the participant’s intraday loan. ( compte de prêt intrajournalier )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
Lynx means the electronic funds transfer system that is owned and operated by the Association. ( Lynx )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
Lynx account means an account on the books of the Bank that a participant has in Lynx and to which the Association makes entries respecting the settlement of Lynx payment obligations and transfers of funds to and from the account. ( compte Lynx )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
Lynx operating schedule means the schedule for Lynx operations that is set out in the Rules. ( horaire d’exploitation de Lynx )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
Lynx payment obligation means the obligation of a sending participant to pay a fixed amount to a receiving participant through Lynx. ( obligation de paiement de Lynx )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
overnight advance means a loan that has a term of one business day, is on the books of the Bank and is made by the Bank to a participant for the purpose of enabling the participant to repay its intraday loan. ( avance à un jour )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
participant means a member who is approved to participate in Lynx in accordance with this By-law. ( participant )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
payee means the person, including a receiving participant, to whom the amount specified in a payment message is to be paid or credited, whether or not that person is the ultimate beneficiary of the amount. ( bénéficiaire )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
payment confirmation reference number means the alpha-numeric confirmation number that is generated by Lynx to identify a Lynx payment obligation that has been settled through Lynx. ( numéro de confirmation du paiement )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
payment message means an electronic message that contains settlement instructions and the information necessary for the receiving participant to make the amount of the payment finally and irrevocably available to the payee. ( message de paiement )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
payments processing cycle means the portion of the Lynx operating schedule during which Lynx payment obligations may be settled through Lynx, including the finalization window. ( cycle de traitement des paiements )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
pledge means a grant to the Bank of security in collateral for funds loaned or advanced by the Bank, and it includes the grant of security in which the Bank does not take possession of the collateral. ( nantissement )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
real-time settlement mechanism means the settlement mechanism that is used to make and repay intraday loans and make overnight advances. ( mécanisme de règlement en temps réel )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
receiving participant means a participant who receives a payment message from another participant. ( participant destinataire )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
reserved collateral mechanism means the settlement mechanism that is used only to settle Lynx payment obligations that are between the Bank and a participant and for which the payee is CDS Clearing and Depository Services Inc., a corporation incorporated under the Canada Business Corporations Act . ( mécanisme de garantie réservée )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
Rules means the rules made by the Board respecting Lynx. ( règles )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
sending participant means a participant who sends a payment message to another participant. ( participant expéditeur )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
settlement instructions means information contained in a payment message that sets out a Lynx payment obligation and the details necessary for it to be settled through Lynx. ( instructions de règlement )
Canadian Payments Association By-law No. 9 — Lynx — Canadian Payments Association By-law No. 9 — Lynx
settlement mechanism means a mechanism in Lynx that is used to settle Lynx payment obligations. ( mécanisme de règlement )
Canadian Payments Association By-law No. 9 — Lynx — 2
Application 2 (1) This By-law applies to the clearing and settlement of payment messages and their associated Lynx payment obligations through Lynx. Scope (2) Each participant must comply with the provisions of this By-law and the Rules. Limitation — rights, liabilities, duties and obligations (3) Except as otherwise expressly provided in this By-law or the Rules, nothing in this By-law or the Rules (a) affects the rights and liabilities of a person at law; or (b) imposes, or deems to impose, on a participant or the Association a duty, liability or obligation toward another person.
Canadian Payments Association By-law No. 9 — Lynx — 3
Association responsible for Lynx 3 (1) The Association must manage, operate and maintain Lynx and ensure that Lynx is capable of performing all activities and functions required by this By-law and the Rules. Association responsible for contractors (2) If the Association enters into a contract with another person for the maintenance of Lynx or for performance of an activity or function required by this By-law or the Rules, the Association remains responsible for ensuring that Lynx is capable of performing all activities and functions required by this By-law and the Rules.
Canadian Payments Association By-law No. 9 — Lynx — 4
Association and Bank 4 Neither the Association nor the Bank, including their respective directors, officers and employees, is liable 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 are intended or authorized to be executed or performed under this By-law or the Rules.
Canadian Payments Association By-law No. 9 — Lynx — 5
Access provided 5 The Association or a participant, regardless of whether the participant is subject to a suspension under any of sections 8 to 10 , may, in accordance with the Rules, access information in Lynx relating to the operation of Lynx.
Canadian Payments Association By-law No. 9 — Lynx — 6
Interpretation — participant 6 In sections 8 to 13 , a reference to a participant does not include a reference to the Bank.
Canadian Payments Association By-law No. 9 — Lynx — 7
Application 7 (1) A member may, in the form and manner set out in the Rules, make an application to the President to be a participant. Approval criteria (2) The President must approve the application if the member demonstrates that it has (a) met the technical and testing requirements set out in the by-laws and the Rules; (b) paid the applicable fees set out in the by-laws and the Rules; and (c) in the case of an application by a member other than the Bank, (i) established one Lynx account per settlement mechanism and one intraday loan account, and (ii) entered into agreements with the Bank in respect of those accounts, the provision of intraday loans and overnight advances and the pledging of collateral to secure those loans and advances.
Canadian Payments Association By-law No. 9 — Lynx — 8
Suspension — access to accounts 8 The President must suspend a participant’s permission to participate in Lynx if the Bank notifies the President that the participant no longer has access to its Lynx accounts or intraday loan account.
Canadian Payments Association By-law No. 9 — Lynx — 9
Suspension — other 9 (1) The President may suspend a participant’s permission to participate in Lynx if (a) the participant no longer meets the technical or testing requirements set out in a by-law or the Rules; or (b) the participant fails to pay an applicable fee set out in a by-law or the Rules. Prior notice to Bank (2) Before making a suspension, the President must provide the Bank with notice of the intention to make the suspension.
Canadian Payments Association By-law No. 9 — Lynx — 10
Suspension — exceptional circumstances 10 (1) If an agent of Her Majesty in right of Canada, an agent or mandatary of Her Majesty in right of a province, a regulator or a supervisory body takes control of a participant or any of its assets or makes a declaration that a participant is considered to be no longer viable or that a participant is unable to meet its liabilities as they become due, the President may, after being advised of such an action having been taken or such a declaration having been made and with the concurrence of the Minister and the Governor of the Bank, suspend the participant’s permission to participate in Lynx if its further participation could adversely affect the efficiency, safety or soundness of Lynx. Reinstatement (2) The President may reinstate the participant’s permission to participate in Lynx if, with the concurrence of the Minister and the Governor of the Bank, the President determines that the participant’s further participation in Lynx will not adversely affect the efficiency, safety or soundness of Lynx.
Canadian Payments Association By-law No. 9 — Lynx — 11
Notice to participants 11 After making a suspension under this By-law, the President must (a) without delay, notify the participant that its permission to participate in Lynx is suspended; and (b) as soon as feasible, notify all other participants of the suspension.
Canadian Payments Association By-law No. 9 — Lynx — 12
Revocation by Board 12 (1) The Board may revoke a member’s approval to be a participant in Lynx if the participant (a) no longer has access to its Lynx accounts or intraday loan account; or (b) no longer meets the technical or testing requirements set out in a by-law or the Rules. Prior notice to Bank (2) Before making a revocation, the Board must provide the Bank with notice of the intention to make the revocation. Notice by President (3) After the Board makes a revocation, the President must (a) without delay, notify the member of the revocation; and (b) as soon as feasible, notify all participants of the revocation.
Canadian Payments Association By-law No. 9 — Lynx — 13
Application 13 (1) A participant who has had its permission to participate in Lynx suspended under section 8 or 9 or a member who has had its approval to be a participant in Lynx revoked under section 12 may, in the form and manner set out in the Rules, make an application to the President to have that permission or approval reinstated. Reinstatement (2) The President must reinstate the permission or approval if the application demonstrates that the circumstances giving rise to the suspension or revocation no longer exist.
Canadian Payments Association By-law No. 9 — Lynx — 14
Notice of withdrawal 14 A participant may cease to be a participant in Lynx by providing a notice of withdrawal to the President in the form and manner set out in the Rules.
Canadian Payments Association By-law No. 9 — Lynx — 15
Operate accounts 15 The Association must operate the following accounts in Lynx on behalf of the Bank: (a) for each participant, one Lynx account per settlement mechanism; and (b) for each participant other than the Bank, one intraday loan account.
Canadian Payments Association By-law No. 9 — Lynx — 16
Operate every business day 16 (1) Lynx must operate every business day and in accordance with the Lynx operating schedule. Lynx access (2) All participants whose permission to participate in Lynx is not suspended must be provided with access to Lynx every business day, including access to all settlement mechanisms.
Canadian Payments Association By-law No. 9 — Lynx — 17
Connecting to Lynx required 17 All participants whose permission to participate in Lynx is not suspended must connect to Lynx every business day unless technical difficulties prevent them from connecting.
Canadian Payments Association By-law No. 9 — Lynx — 18
Pledge and assessment 18 (1) Each participant other than the Bank must pledge collateral and the Bank must, before the beginning of the payments processing cycle every business day, assess the value of that collateral. Allocation (2) Before the beginning of the payments processing cycle every business day, each participant other than the Bank must allocate all or part of the assessed value of its pledged collateral as security for its intraday loan. Change to allocation (3) A participant may change the allocation of collateral any time before the beginning of the finalization window. However, the assessed value of the allocated collateral must not be less than the outstanding amount of the participant’s intraday loan at the time the change is made. Limit on reassessment (4) During the period beginning when the credit limit established for a participant under paragraph 19 (1)(a) is provided to the Association and ending when the payments processing cycle ends, the Bank must not reassess the value of the collateral allocated by the participant.
Canadian Payments Association By-law No. 9 — Lynx — 19
Credit limit established 19 (1) Before the beginning of the payments processing cycle every business day, the Bank must (a) for each participant referred to in subsection 18 (2), establish a credit limit that is equal to the assessed value of the collateral allocated by the participant; and (b) provide the credit limit to the Association. New credit limit (2) If a participant changes its allocation in accordance with subsection 18 (3), the Bank must establish a new credit limit for that participant in accordance with paragraph (1)(a) and provide it to the Association.
Canadian Payments Association By-law No. 9 — Lynx — 20
Minimum amount of funds 20 Before the beginning of the payments processing cycle on a business day, the Association may, in accordance with the Rules, set the minimum amount of funds that a participant other than the Bank must apportion to a settlement mechanism under subsection 21 (1).
Canadian Payments Association By-law No. 9 — Lynx — 21
Apportion funds 21 (1) For the purpose of funding the settlement of Lynx payment obligations in a settlement mechanism, a participant other than the Bank may — within the period before the finalization window set out in the Rules and in accordance with the procedures set out in the Rules — apportion an amount of funds from its credit limit to its Lynx account for that settlement mechanism. Minimum (2) However, if the Association establishes a minimum amount of funds to be apportioned to a settlement mechanism, the participant must apportion an amount of funds from its credit limit to its Lynx account for that mechanism that is no less than the minimum established.
Canadian Payments Association By-law No. 9 — Lynx — 22
Bank makes intraday loan 22 (1) Every business day, the Bank must make an intraday loan to each participant that is equal to the total amount of funds apportioned to all settlement mechanisms by the participant under subsection 21 (1). Instructions to repay intraday loan (2) A participant may, within the period before the finalization window set out in the Rules, instruct the Association to repay all or part of its intraday loan by transferring funds from any of its Lynx accounts to its intraday loan account. Outstanding amount of intraday loan (3) For greater certainty, the outstanding amount of a participant’s intraday loan is, at any given time in the payments processing cycle, equal to the amount of the intraday loan made under subsection (1) less the amount of any repayments made in accordance with repayments instructed under subsection (2). Transfers and entries (4) The Association must (a) transfer the amount apportioned to a settlement mechanism by a participant under subsection 21 (1) to the Lynx account for that settlement mechanism; (b) subject to subsection 24 (3), make the transfers from the participant’s Lynx account to its intraday loan account to reflect any repayment instructed under subsection (2); and (c) make the corresponding entries to those accounts in accordance with the procedures set out the Rules.
Canadian Payments Association By-law No. 9 — Lynx — 23
Participant’s instructions 23 (1) A participant may, within the period before the finalization window set out in the Rules, instruct the Association to transfer funds between any of its Lynx accounts — other than its account for the reserved collateral mechanism — if the transfer will not result in a negative balance in any of those accounts. Transfers and entries (2) Subject to subsection 24 (3), the Association must (a) make the transfer as instructed; and (b) make the corresponding entries to those Lynx accounts in accordance with the procedures set out in the Rules.