The CPA Board of Directors, in
consultation with the Minister of Finance, makes three-year
appointments* to the Stakeholder Advisory Council (SAC). Those
considered for the positions are individuals who represent the interests
of stakeholders (i.e. users or service providers) of the Canadian
payment system based on the following criteria:
- preference is given to stakeholders whose interests are national
in scope;
- for payment system users, preference is accorded to associations
or similar bodies that represent a broad constituency or, in the absence of such a body,
to those representing the interests of a prominent firm within the
industry;
- for service providers to the payment system, preference is given
to associations or similar bodies that represent the broad interests of a majority of
participants in the industry, or in the absence of such a body, to
those representing the interests of a prominent firm within the
industry;
- stakeholders’ access to other consultative processes.
In the event that the number of qualified stakeholders exceeds the
number of seats available on the Council, the Board may take into
account the following additional criteria:
- stakeholders’ current representation on the Council;
- the degree of reliance of the stakeholder’s activity on the
payment system;
- the level of research and development undertaken by the
stakeholder; and
- the stakeholder’s affiliations or experience with international
payment systems.
*As required by the Act, initial appointments are divided among terms
of one, two and three years, so as to stagger future appointments dates
and thereby ensure some continuity on the Council. |
