Clause 54

A clearing house shall continue to satisfy such conditions or restrictions imposed on it or as are required for the corporation to be approved as a clearing house, and in particular, the requirements specified in sections 51(4) and 52 and any regulations made under section 53.

A clearing house which contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $150,000 and, in the case of a continuing offence, to a further fine not exceeding $15,000 for every day or part thereof during which the offence continues after conviction.