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ARTICLE · 10 DECEMBER 2021

Payments Canada Releases Consultation Paper On Pre-Authorised Debits (PADs) Rule

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Payments Canada released the consultation paper "A Proposed Revised Framework for Pre-Authorised Debits" on November 17, 2021, seeking to gather views on proposed changes to Pre-Authorised Debits ("PAD") over the Automated Clearing Settlement System,

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Prepared with the assistance of Adina Chis of the Firm's London office.

Payments Canada released the consultation paper "A Proposed Revised Framework for Pre-Authorised Debits" on November 17, 2021, seeking to gather views on proposed changes to Pre-Authorised Debits ("PAD") over the Automated Clearing Settlement System ("ACSS").

Payments Canada notes that the proposed amendments could impact operational processes, costs, protection of data and recourse options and so the implementation of the proposed changes would occur in multiple phase with first phase, becoming effective from mid-2022.

Payments Canada has invited interested parties to send comments on the proposals by January 14, 2022 to [email protected].

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