Retail Payment Activities Act — R-7.36 2
Definitions 2 The following definitions apply in this Act. Bank means the Bank of Canada. ( Banque ) Centre means the Financial Transactions and Reports Analysis Centre of Canada. ( Centre ) electronic funds transfer means a placement, transfer or withdrawal of funds by electronic means that is initiated by or on behalf of an individual or entity. ( transfert électronique de fonds ) end user means an individual or entity that uses a payment service as a payer or payee. ( utilisateur final ) entity means a corporation, trust, partnership, fund, an unincorporated association or organization, the government of a foreign country or of a political subdivision of a foreign country, or an agency of a foreign country or of a subdivision of a foreign country. ( entité ) government authority includes the Royal Canadian Mounted Police, the Communications Security Establishment and the Canadian Security Intelligence Service. ( autorité administrative ) Governor has the same meaning as in section 2 of the Bank of Canada Act . ( gouverneur ) incident means an event or series of related events that is unplanned by a payment service provider and that results in or could reasonably be expected to result in the reduction, deterioration or breakdown of any retail payment activity that is performed by the payment service provider. ( incident ) Minister means the Minister of Finance. ( ministre ) operational risk means a risk that any of the following will result in the reduction, deterioration or breakdown of retail payment activities that are performed by a payment service provider: (a) a deficiency in the payment service provider’s information system or internal process; (b) a human error; (c) a management failure; or (d) a disruption caused by an external event. ( risque opérationnel ) payment function means (a) the provision or maintenance of an account that, in relation to an electronic funds transfer, is held on behalf of one or more end users; (b) the holding of funds on behalf of an end user until they are withdrawn by the end user or transferred to another individual or entity; (c) the initiation of an electronic funds transfer at the request of an end user; (d) the authorization of an electronic funds transfer or the transmission, reception or facilitation of an instruction in relation to an electronic funds transfer; or (e) the provision of clearing or settlement services. ( fonction de paiement ) payment service provider means an individual or entity that performs payment functions as a service or business activity that is not incidental to another service or business activity.  ( fournisseur de services de paiement ) prescribed means prescribed by regulation. ( Version anglaise seulement ) registered means registered under section 25 . ( enregistré ) retail payment activity means a payment function that is performed in relation to an electronic funds transfer that is made in the currency of Canada or another country or using a unit that meets prescribed criteria. ( activité associée aux paiements de détail ) third-party service provider means an individual or entity that, under a contract, provides a payment service provider with a service related to a payment function and that is not an employee or agent or mandatary of the payment service provider. ( tiers fournisseur de services )