On that point, I'd simply like to point out that the government stated in the June White Paper that it would propose a voluntary approach to all stakeholders. The federal government does not regulate all stakeholders with regard to payment systems. It regulates the banks and other stakeholders. Consequently, we will initially favour a voluntary approach based on what was used for the debit card code, to see whether we can come up with a code that can govern all electronic payment systems as a whole.
On February 15th, 2007. See this statement in context.