Retail Payment Activities Regulations (SOR/2023-229)
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Regulations are current to 2024-10-02
Administration and Enforcement — Provision of Information
Marginal note:Prescribed period — payment service provider
- The following provision is not in force.
43 (1) The prescribed period for the purpose of subsection 65(1) of the Act is 15 days beginning on the day after the day on which the request is made.
- The following provision is not in force.
Marginal note:Exception — significant adverse incident
(2) Despite subsection (1), if the information requested by the Bank relates to an incident that is ongoing and that could have a significant adverse impact on an individual or entity referred to in subsection 94(2) of the Act, the prescribed period for the purpose of subsection 65(1) of the Act is 24 hours beginning when the request is made.
Marginal note:Prescribed period — individual or entity
44 The prescribed period for the purpose of subsection 66(2) of the Act is 15 days beginning on the day after the day on which the request is made.
Marginal note:Prescribed period — undertaking or condition
45 The prescribed period for the purpose of subsection 73(1) of the Act is 15 days beginning on the day after the day on which the request is made.
Administrative Monetary Penalties
Marginal note:Designation of violations
46 The following are designated as violations that may be proceeded with under Part 5 of the Act:
- The following provision is not in force.
(a) the contravention of a provision of the Act set out in column 1 of Part 1 of the schedule, including in relation to a corresponding provision of these Regulations set out in column 2, if applicable;
- The following provision is not in force.
(b) the contravention of a provision of these Regulations set out in column 1 of Part 2 of the schedule; and
- The following provision is not in force.
(c) non-compliance with an agreement entered into under section 71 of the Act.
Marginal note:Classification
- The following provision is not in force.
47 (1) Subject to subsection (3), each violation referred to in paragraph 46(a) or (b), other than one referred to in subsection 48(2), is classified as a serious or very serious violation, as set out in column 3 of Part 1 of the schedule or column 2 of Part 2 of the schedule, as the case may be.
- The following provision is not in force.
Marginal note:Compliance agreement violation
(2) The violation referred to in paragraph 46(c) is classified as a very serious violation.
- The following provision is not in force.
Marginal note:Series of violations
(3) If a notice of violation identifies two or more violations that are classified as serious violations and that arise from the contravention of the same provision of the Act or these Regulations, that series of violations is classified as a single very serious violation.
Marginal note:Penalties
- The following provision is not in force.
48 (1) The range of penalties in respect of a violation, other than one referred to in subsection (2), is
- The following provision is not in force.
(a) up to $1,000,000 in the case of a serious violation; and
- The following provision is not in force.
(b) up to $10,000,000 in the case of a very serious violation.
- The following provision is not in force.
Marginal note:Exceptions
(2) In the case of a violation in respect of section 21 or subsection 22(1), 59(1) or 60(1) or (2) of the Act,
- The following provision is not in force.
(a) if the violation has continued for no more than 30 days, the amount of the penalty in respect of the violation is $500 for each day that it has continued; and
- The following provision is not in force.
(b) if it has continued for more than 30 days, the range of penalties in respect of the violation is from $15,000 to $1,000,000.
Marginal note:Criteria
49 The amount payable as the penalty for a violation, other than one referred to in paragraph 48(2)(a), is to be established having regard to
- The following provision is not in force.
(a) the harm that is done by the violation and the harm that could have been done by it;
- The following provision is not in force.
(b) the history of the individual or entity that committed the violation with respect to any prior violation committed by them within the five-year period immediately before the violation; and
- The following provision is not in force.
(c) the degree of intention or negligence on the part of the individual or entity that committed the violation.
Marginal note:Additional penalty
50 For the purpose of paragraph 82(1)(b) of the Act, the additional penalty is equal to the amount of the penalty set out in the notice of violation.
Marginal note:Service of documents
- The following provision is not in force.
51 (1) Any notice that is to be served under Part 5 of the Act must be served by
- The following provision is not in force.
(a) in the case of service on an individual,
(i) leaving a copy of it with the individual,
(ii) leaving a copy of it with someone who appears to be an adult member of the same household at the individual’s last known address or usual place of residence,
(iii) sending a copy of it by registered mail or courier to the individual’s last known address or usual place of residence,
(iv) sending a copy of it to the individual’s last known email address, or
(v) making a copy of it available to the individual through an electronic system maintained for that purpose by the Bank and advising the individual, by email to their last known email address, of the availability of the notice; and
- The following provision is not in force.
(b) in the case of service on an entity,
(i) leaving a copy of it with an individual who appears to manage or be in control of the head office or place of business of the entity or of the entity’s authorized representative,
(ii) sending a copy of it by registered mail or courier to the head office or place of business of the entity or of the entity’s authorized representative,
(iii) sending a copy of it to the entity’s last known email address, or
(iv) making a copy of it available to the entity through an electronic system maintained for that purpose by the Bank and advising the entity, by email to its last known email address, of the availability of the notice.
- The following provision is not in force.
Marginal note:Deemed service
(2) A notice is deemed to be served
- The following provision is not in force.
(a) on the day on which it is left with an individual in accordance with subparagraph (1)(a)(i) or (ii) or (b)(i);
- The following provision is not in force.
(b) on the 10th day after the date indicated in the receipt issued by the postal or courier service, in the case of service by registered mail or courier; or
- The following provision is not in force.
(c) on the day on which the email referred to in subparagraph (1)(a)(iv) or (v) or (b)(iii) or (iv) is delivered.
Transition Period
Marginal note:National security review — prescribed periods
52 In respect of an application for registration that is submitted during the transition period as defined in section 103 of the Act,
- The following provision is not in force.
(a) the prescribed period for the purpose of subsection 34(1) of the Act begins on the day on which the Minister is provided with the application and ends 60 days after the last day of the transition period; and
- The following provision is not in force.
(b) the prescribed period for the purpose of section 36 of the Act begins on the day on which the Minister decides to review the application and ends on the later of 180 days after that day and 180 days after the last day of the transition period.
Marginal note:Application for registration — prescribed period
53 The prescribed period for the purpose of section 104 of the Act is the period that begins on the day on which section 29 of the Act comes into force and ends on the later of
- The following provision is not in force.
(a) the day that is 14 days after the day on which section 29 of the Act comes into force, and
- The following provision is not in force.
(b) the day that is 60 days before the first day during the transition period on which the payment service provider plans to perform retail payment activities.
Marginal note:Publication of application information
54 For the purpose of section 107 of the Act, the prescribed information is
- The following provision is not in force.
(a) any trade names of the applicant; and
- The following provision is not in force.
(b) the address, telephone number and email address of the applicant’s place of business, as well as their website address, if any.
Coming into Force
Marginal note:S.C. 2021, c. 23, s. 177
Footnote *55 (1) Subject to subsection (2), these Regulations come into force on the day on which section 29 of the Retail Payment Activities Act comes into force, but if they are registered after that day, they come into force on the day on which they are registered.
Marginal note:S.C. 2021, c. 23, s. 177
(2) Sections 5 to 23, 26, 27 and 29 to 36, paragraphs 37(b) to (e), items 1 to 10, 12 and 13 of Part 1 of the schedule and items 1 to 26 of Part 2 of the schedule come into force on the day on which subsection 25(1) of the Retail Payment Activities Act comes into force, but if these Regulations are registered after that day, those provisions come into force on the day on which these Regulations are registered.
Return to footnote *[Note: Regulations, except sections 5 to 23, 26, 27 and 29 to 36, paragraphs 37(b) to (e), items 1 to 10, 12 and 13 of Part 1 of the schedule and items 1 to 26 of Part 2 of the schedule, in force November 1, 2024, see SI/2023-70, sections 5 to 23, 26, 27 and 29 to 36, paragraphs 37(b) to (e), items 1 to 10, 12 and 13 of Part 1 of the schedule and items 1 to 26 of Part 2 of the schedule in force September 8, 2025, see SI/2023-70.]
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