Index

• Author: M.H. Ogilvie
• Profession: Professor of Law, Carleton University
• Pages: 449-478

449

INDEX

2006 Financial Ins titutions Legislatio n Re-

view: Proposals for an Effect ive and

Eff‌icient Finance Services Frame-

work (White Paper), 31

2007 amendment s to the Bank Act (Bill

C-37, S.C. 2007, c. 6, Royal Assent

29 March 2007), 31–32, 84, 121,

129 –31, 160 , 319

3PPS. See Third part y payment systems

(3PPS)

ABMs (Automated Ba nking Machines)

ABM cards, 3 49–50

ABM receipts, 2 33, 324, 353

ABM withdr awals, 355, 362

bank ABMs, 3 45

bill payment s, 365

Interac ABMs, 325, 349, 351

PINs (Personal Identi f‌ication Num-

bers)

cardholder agreements, 353,

375–77

customer resp onsibility, 185, 325,

353, 355, 375 –77

Debit Card Code, 352

debit card tran sactions, 324–25,

351–52

electronic payments, 346

retail tr ansactions, 324–25, 351–52

unauthorized use, 354–55

Accounts. See Bank accounts

ACSS. See Automated Clearing and

Settlement System (ACSS)

Activities of banks. See Banking busines s

ADR (Alternat ive Dispute Resolution).

See Dispute res olution

AFT (Automated Fund Transfe rs), 324

Alternat ive dispute resolution (ADR).

See Dispute res olution

American E xpress, 347, 371, 373, 380,

383–84, 387

Associat ion des banquiers canadie ns.

See Canadian Bankers Association

Auditors of bank s

appointment, 112

audit committee of ba nk, 77, 95–97,

114

duties, 113

his tory, 111– 12

“independence” def‌ined , 112

qualif‌ications, 112

removal or resig nation, 112–13

reports of auditor s

errors or mis statements, 114

revisions, 114

to CEO and CFO re unsou nd

transactions, 114

BANK AND C USTOMER LAW450

to shareholders, 113

to Superintende nt, 113

rights of auditors

access to records, 113

attendance at sha reholders’ meet-

ings, 113

Superintendent, involvement by,

111–12

Automated bank ing machines. See ABMs

(Automated Banking Machines)

Automated Cleari ng and Settlement

System (ACSS)

ABMs (Automated Ba nking Ma-

chines), 324–25

ACSS Rules Manual, 290, 320, 322,

324–26, 329, 350, 356

automated fund tr ansfers (AFT)

AFT credit t ransactions, 324

AFT debit tran sactions, 324

automatic deposits, 324

preauthoriz ed bill payments, 324

Bank of Can ada, role of, 44, 318, 321

bill payments, 324–26

Canadia n Code of Practice for Con-

sumer Debit Card Ser vices, 325

CCIN (Corporate Creditor Identif‌ica-

tion Number), 326

cheque clearing, 322–23

“cheque holds” policy, 324

cheque imaging, 328

cheque tran saction and electronic

clearing, 328

“cheque truncat ion” def‌ined, 328

Clearing B y-Law (1985), 320–21, 356

“clearing” def‌i ned, 320

computer bankin g, 324

data entr y from paper items, 323

debit card tran sactions, 324–25

default of clearer, procedu res for,

326–27

direct clearers, 320, 333

dishonoured cheq ues, 151, 258, 261,

263–67, 271–73, 278, 288–91, 323,

334

DTN (Data Transmi ssion Network),

324–26

EDI (Electronic Data I nterchange),

324–25

electronic payment items, 324

indirect clearers, 320, 333

infrast ucture of system, 315–44

Interac network, 29, 54, 158, 325,

349–53, 368

internation al funds transfer s, 334–37

membership of ACSS, 320, 333

online banking, 324–26

paper items, requirements for, 322

“payment item s” def‌ined, 321

PINs (Personal Identi f‌ication Num-

bers), 325

POS (Point-Of-Sale) payment s, 324–25

preauthorize d debits, 324

regional sett lement points, 321

risks and r isk management, 324, 326

rules. See Automated Cleari ng and

Settlement System (ACSS); ACSS

Rules Manual

“settlement” def‌ined, 320

TECP (truncation and e lectronic

cheque presentment), 327–28

telephone banki ng, 324–26

Automated fund tra nsfers (AFT), 324

Bank account state ments. See also Bank

accounts; Deposit rec eipts and

passbooks

account verif‌icat ion clauses, 298–303

at common law, 233, 296, 298–303

cheques retur ned with statements,

327–28

cheque imaging, 327–29

statutory dut y to retain cheques,

328– 29

duties of bank, 296 –303

duties of customer

account verif‌icat ion clauses, 185,

298–303

to check statements, 299–303

to prevent fraud by employee s,

299–303

errors, 185

forms of statement s, 296

generally, 233–35, 296–303

liability of bank

account verif‌icat ion clauses,

298–303

for careless, fr audulent clients,

294–95, 299 –303

online account st atements, 233

passbooks, st atus of, 233, 296–97