January 21, 2013

The CPA makes changes to rules and standards

OTTAWA – The CPA Board of Directors approved amendments to CPA Rules at its meeting on October 11, 2012. They come into effect on February 4, 2013. The amendments are to remove the certification requirement for items being returned due to processing errors and amendments to procedures for their return. The Rules page will be updated once they come into effect.

The affected rules are listed below:

  • Rule A1  - General Rules Pertaining to Items Acceptable for Exchange, for the Purpose of Clearing and Settlement
    Amended pages: Implementation and Revisions Page; Page 6 (end)
  • Rule A4- Returned and Redirected Items
    Amended pages: Implementation and Revisions Page; Pages 4-12
  • Rule A10- Images, Image Printouts, Clearing Replacement Documents and Return Replacement Documents
    Amended pages: Implementation and Revisions Page; Pages 5-8
  • Rule B10- Tracing, Clearing Errors and Use of Photocopies
    Amended pages: Implementation and Revisions Page; Pages 5-7
  • Rule K1- Bulk Exchange and Settlement of U.S. Dollar Paper Items
    Amended pages: Implementation and Revisions Page; Page 5; Page 9

 

 

 

 

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