If he were to query that database through the interface on his CPIC terminal, the results he'd get back would be an abridged version of the red notice. It would be nowhere near as expansive as the original document.
The fact that it is searchable to him means that the notice has not yet been removed from INTERPOL's databases as a result of an identified misuse, or what have you. Conversely, if he does receive any information as a result of his search, he has no lawful authorities in place in Canada to effect an arrest based on the outstanding charges in the foreign country.
At that juncture he would, in all likelihood, document his observations of the scenario and the subject, and then report those back to us at INTERPOL Ottawa. We would make an evaluation of that information and then, were it deemed appropriate, share that with the requesting country.
At no point would an officer on Bank Street be involved in a direct information-sharing engagement with foreign law enforcement.