Contents
His Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsection 35(1) of the Canadian Payments Act, makes the annexed Canadian Payments Association Reporting Requirements Regulations.notenote
Interpretation
1Definitions#
The following definitions apply in these Regulations.
Act means the Canadian Payments Act. (Loi)
five-year corporate plan means the plan referred to in section 23 of the Act. (plan d’entreprise quinquennal)
Five-Year Corporate Plan
2Content#
(1)A five-year corporate plan for the Association must contain
(a)for the fiscal year for which the plan is submitted, its operating budget and capital expenditures budget;
(b)for each of the four fiscal years after the fiscal year referred to in paragraph (a), its operating budget forecast and capital expenditures budget forecast;
(c)for the fiscal year before the fiscal year referred to in paragraph (a), its audited financial statements, or, if those statements are not available, its updated operating budget and updated capital expenditures;
(d)for the fiscal year before the fiscal year for which information is required under paragraph (c), its audited financial statements;
(e)an explanation of any major variance in the amounts provided under paragraphs (a) to (d); and
(f)an explanation of any major variance between an amount provided under paragraphs (a) to (d) for a fiscal year and any amount provided in the previous five-year corporate plan for that fiscal year.
(2)The Board must submit the five-year corporate plan to the Minister for approval no later than three months after the day on which the fiscal year for which the plan is submitted begins.
(3)The Board must submit any significant amendment to the approved five-year corporate plan to the Minister for approval.
Annual Report
Coming into Force
Federal laws of Canada reproduced under the Reproduction of Federal Law Order (SI/97-5); not the official version. Source: Justice Laws Website.