The Canadian Payments Act (CP Act) sets out the legal framework for Payments Canada. This includes its mandate, the types of entities eligible for membership, the role of the Board of Directors and oversight responsibilities of the Minister of Finance.

Under the CP Act, the authority to make by-laws is delegated to Payments Canada’s Board of Directors in fulfillment of Payments Canada’s mandate. Other regulations on certain topics may also be made, under the CP Act, by the executive branch of government (Governor in Council). 

By-laws and regulations made under the CP Act:

• Canadian Payments Association Election of Directors Regulations
• Canadian Payments Association Reporting Requirements Regulations
• Money Market Mutual Fund Conditions Regulations
• Canadian Payments Association Membership Requirements Regulations
• Canadian Payments Association By-law No. 1 — General
• Canadian Payments Association By-law No. 2 — Finance
• Canadian Payments Association By-law No. 3 — Payment Items and Automated Clearing Settlement System
• Canadian Payments Association By-law No. 6 — Compliance
• By-law No. 7 Respecting the Large Value Transfer System
• Canadian Payments Association By-law No. 8 - Administration
• Canadian Payments Association By-law No. 9 — Lynx

By-laws specific to Canada’s payment systems can also be found in the Rules Centre.