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Consolidated Regulations > Canadian Payments Association By-law No. 9 Lynx
Short Summary
Canadian Payments Association By-law No. 9 Lynx governs the clearing and settlement of payment messages and their associated Lynx payment obligations through Lynx, the electronic funds transfer system owned and operated by the Canadian Payments Association. It applies to participants who are approved to participate in Lynx. The By-law sets out the responsibilities of the Association in managing, operating, and maintaining Lynx, as well as the obligations of participants in terms of collateral pledging, funding settlement mechanisms, and repayment of intraday loans. The By-law also establishes procedures for sending and settling payment messages, making payments available to payees, and handling exceptional circumstances. No specific penalties are mentioned in this By-law.
Whom does it apply to?
This By-law applies to participants who are approved to participate in Lynx in accordance with the By-law and the Rules.
What does it govern?
Canadian Payments Association By-law No. 9 Lynx governs the clearing and settlement of payment messages and their associated Lynx payment obligations through Lynx, the electronic funds transfer system owned and operated by the Canadian Payments Association.
What are exemptions?
Except as otherwise expressly provided in this By-law or the Rules, nothing in this By-law or the Rules affects the rights and liabilities of a person at law or imposes, or deems to impose, on a participant or the Association a duty, liability, or obligation toward another person.
What are the Penalties?
No specific penalties are mentioned in this By-law.
Jurisdiction
Canada