CANADIAN PAYMENTS ACTCanadian Payments Association By-law No. 10 — RTRThe Board of Directors of the Canadian Payments Association makes the annexed Canadian Payments Association By-law No. 10 — RTR under subsection 18(1)a of the Canadian Payments Actb.S.C. 2024, c. 15, s. 222R.S., c. C-21; S.C. 2001, c. 9, s. 218Ottawa, March 10, 2026
Le président du conseil d’administration de l’Association canadienne des paiements,Garry FosterChairperson of the Board of Directors of the Canadian Payments Association
The Minister of Finance, under subsection 18(2)a of the Canadian Payments Actb, approves the annexed Canadian Payments Association By-law No. 10 — RTR, made by the Board of Directors of the Canadian Payments Association.S.C. 2014, c. 39, s. 342(5)R.S., c. C-21; S.C. 2001, c. 9, s. 218Ottawa, June 8, 2026
Le ministre des Finances,François-Philippe ChampagneMinister of Finance
InterpretationDefinitionsThe following definitions apply in this By-law.Act means the Canadian Payments Act. (Loi)Bank means the Bank of Canada. (Banque)direct settlement participant means a participant whose RTR payment obligations are cleared and settled through its settlement account. (participant direct au règlement)indirect settlement participant means a participant whose RTR payment obligations are cleared and settled through the settlement account of a settlement agent. (participant indirect au règlement) participant means a member whose application to participate in the RTR system has been approved under subsection 5(2). (participant)participant-to-participant transfer means a transfer of an amount of funds in RTR Clearing and Settlement from one direct settlement participant to another direct settlement participant who is the ultimate beneficiary of the amount. (transfert entre participants)payee means the person to whom the fixed amount set out in a payment message is to be paid or credited, whether or not that person is the ultimate beneficiary of the amount. (bénéficiaire)payment exchange means an electronic system that facilitates the exchange of payment messages. (système d’échange de paiements)payment message means an electronic message that sets out an RTR payment obligation and is, or is to be, exchanged in a payment exchange. (message de paiement)receiving participant means the direct settlement participant or indirect settlement participant who, in an RTR payment message or in settlement instructions, is identified as the participant who is to receive the fixed amount set out in the RTR payment message or in those instructions. (participant destinataire)RTR Clearing and Settlement means the electronic system that is a component of the RTR system and in which RTR payment obligations are cleared and settled. (système de compensation et de règlement PTR)RTR Exchange means the payment exchange that is a component of the RTR system. (système d’échange PTR)RTR payment message means a payment message that is, or is to be, exchanged in the RTR Exchange. (message de paiement PTR)RTR payment obligation means the obligation of a participant to pay another participant a fixed amount in RTR Clearing and Settlement. (obligation de paiement PTR)RTR system means the real-time exchange, clearing and settlement system, also known as the Real-Time Rail, that is owned and operated by the Association. (système de PTR)Rules means the rules made by the Board respecting the RTR system. (règles)sending participant means a direct settlement participant or indirect settlement participant who, in an RTR payment message or in settlement instructions, is identified as the participant who is to pay the fixed amount set out in the RTR payment message or in those instructions. (participant expéditeur)settlement account means an account on the books of the Bank that a direct settlement participant has in RTR Clearing and Settlement and to which the Association makes entries respecting the clearing and settlement of RTR payment obligations. (compte de règlement)settlement agent means a direct settlement participant who is approved under section 16 to clear and settle RTR payment obligations in RTR Clearing and Settlement on behalf of indirect settlement participants. (agent de règlement)settlement instructions means information that sets out the details necessary for the clearing and settlement of an RTR payment obligation in RTR Clearing and Settlement andis generated by a payment exchange and sets out the RTR payment obligation from a payment message; oris generated by RTR Clearing and Settlement for a participant-to-participant transfer and sets out the RTR payment obligation. (instructions de règlement)third-party exchange means a payment exchange that, under an agreement with the Association, may submit settlement instructions to RTR Clearing and Settlement. (système d’échange externe)Reference to settlement accountsFor the purposes of paragraph 34(d), section 35, subsection 40(3) and paragraph 41(1)(a), a reference in the provision to the participant’s settlement account is to be read as a reference to the settlement account of its settlement agent if the participant is an indirect settlement participant.GeneralApplicationApplicationThis By-law applies to the exchange of RTR payment messages and the clearing and settlement of RTR payment obligations in the RTR system.ScopeEach participant must comply with the provisions of this By-law and the Rules.Responsibility for activities and functionsIf a participant enters into an agreement with another person for the performance of an activity or function required by this By-law or the Rules, the participant remains responsible for ensuring that the activity or function is carried out as required by this By-law and the Rules.LocalsEach participant who exchanges an RTR payment message on behalf of a local referred to in subparagraph 6(1)(a)(ii) of the Canadian Payments Association By-law No. 3 — Payment Items and Automated Clearing Settlement System must ensure that the local complies with this By-law and the Rules as if it were a participant.Limitation — rights, liabilities, duties and obligationsExcept as otherwise expressly provided in this By-law or the Rules, nothing in this By-law or the Rulesaffects the rights and liabilities of a person at law; orimposes, or deems to impose, on a participant or the Association a duty, liability or obligation toward another person.Association’s ResponsibilitiesAssociation responsible for the RTR systemThe Association must manage, operate and maintain the RTR system and ensure that it is capable of performing all activities and functions required by this By-law and the Rules.Association responsible for service providersIf the Association enters into an agreement with another person for the maintenance of the RTR system or for the performance of an activity or function required by this By-law or the Rules, the Association remains responsible for ensuring that the RTR system is capable of performing all activities and functions as required by this By-law and the Rules.Exclusion of LiabilityAssociation and BankNeither the Association nor the Bank, including their respective directors, officers and employees, is liable for any loss or damage suffered by a member as a result of anything done or omitted to be done in good faith in the administration or discharge of any powers or duties that are intended or authorized to be executed or performed under this By-law or the Rules.Participation in the RTR SystemParticipantsApplicationA member may, in the form and manner set out in the Rules, make an application to the President to participate in the RTR system as a direct settlement participant or as an indirect settlement participant.Approval criteriaThe President must approve the application if the member demonstrates thatin the case of an application made by the Bank to participate as a direct settlement participant, it has established a settlement account;in the case of an application made by a member other than the Bank to participate as a direct settlement participant, it has established a settlement account and entered into agreements with the Bank in respect of that account;in the case of an application to participate as an indirect settlement participant, it has retained at least one settlement agent to act on its behalf;it has met the technical, operational, security, settlement account funding and testing requirements set out in the Rules; andit has paid the applicable fees set out in the by-laws and the Rules.Participation — direct settlement participantA direct settlement participant who is not subject to a suspension under any of sections 9 to 11 maysubject to section 8, send RTR payment messages;direct RTR Clearing and Settlement to generate settlement instructions for a participant-to-participant transfer; andclear and settle RTR payment obligations in RTR Clearing and Settlement through its settlement account.Participation — indirect settlement participantAn indirect settlement participant who is not subject to a suspension under any of sections 9 to 11 maysubject to section 8, send RTR payment messages; andclear and settle RTR payment obligations in RTR Clearing and Settlement through the settlement account of a settlement agent it has designated under section 22.Tests before first RTR payment messageBefore sending its first RTR payment message, a participant must, by successfully completing the system tests set out in the Rules, demonstrate its ability to send RTR payment messages.SuspensionSuspension — access to settlement accountThe President must suspend a direct settlement participant’s permission to participate in the RTR system if the Bank notifies the President that the participant no longer has access to its settlement account.Suspension — otherThe President may suspend a participant’s permission to participate in the RTR system ifin the case of an indirect settlement participant, it does not have a designated settlement agent who may act on its behalf;it no longer meets the technical, operational, security, settlement account funding or testing requirements set out in the Rules; orit fails to pay an applicable fee set out in a by-law or the Rules.Prior notice to BankBefore making a suspension, the President must provide the Bank with notice of the intention to make the suspension.Suspension — exceptional circumstancesIf an agent of His Majesty in right of Canada, an agent or mandatary of His Majesty in right of a province, a regulator or a supervisory body takes control of a participant or any of its assets or makes a declaration that a participant is considered to be no longer viable or that a participant is unable to meet its liabilities as they become due, the President may, after being advised of such an action having been taken or such a declaration having been made and with the concurrence of the Minister and the Governor of the Bank, suspend the participant’s permission to participate in the RTR system if its further participation could adversely affect the efficiency, safety or soundness of the RTR system.ReinstatementThe President may reinstate the participant’s permission to participate in the RTR system if, with the concurrence of the Minister and the Governor of the Bank, the President determines that the participant’s further participation in the RTR system will not adversely affect the efficiency, safety or soundness of the RTR system.Notice to participantsAfter making a suspension under any of sections 9 to 11, the President mustwithout delay, notify the participant that its permission to participate in the RTR system is suspended; andas soon as feasible, notify all other participants of the suspension.RevocationRevocation by BoardThe Board may revoke a member’s approval to be a participant in the RTR system ifin the case of a direct settlement participant, the member no longer has access to its settlement account;in the case of an indirect settlement participant, the member does not have a designated settlement agent who may act on its behalf; orthe member no longer meets the technical, operational, security, settlement account funding or testing requirements set out in the Rules.Prior notice to BankBefore making a revocation, the Board must provide the Bank with notice of the intention to make the revocation.Notice by PresidentAfter the Board makes a revocation, the President mustwithout delay, notify the member of the revocation; andas soon as feasible, notify all participants of the revocation.ReinstatementApplicationA participant whose permission to participate in the RTR system is suspended under section 9 or 10 or a member whose approval to be a participant in the RTR system is revoked under section 13 may, in the form and manner set out in the Rules, make an application to the President to have that permission or approval reinstated.ReinstatementThe President must reinstate the permission or approval if the application demonstrates that the circumstances giving rise to the suspension or revocation no longer exist.WithdrawalNotice of withdrawalA participant may cease to be a participant in the RTR system by providing a notice of withdrawal to the President in the form and manner set out in the Rules.Settlement AgentsApplication to be a Settlement AgentApplicationA direct settlement participant who is not subject to a suspension under any of sections 9 to 11 may, in the form and manner set out in the Rules, make an application to the President for approval to clear and settle RTR payment obligations in RTR Clearing and Settlement on behalf of indirect settlement participants.Approval criteriaThe President must approve the application if the direct settlement participant demonstrates thatit has established a settlement account for use in relation to its activities as a settlement agent and, if the participant is other than the Bank, has entered into agreements with the Bank in respect of that account;it has met the technical, operational, security, settlement account funding and testing requirements set out in the Rules that are applicable to settlement agents; andit has paid the fees applicable to settlement agents set out in the by-laws and the Rules.Suspension of ApprovalSuspension — access to settlement accountThe President must suspend an approval provided under section 16 if the Bank notifies the President that the direct settlement participant no longer has access to the settlement account referred to in paragraph 16(2)(a).Suspension — otherThe President may suspend an approval provided under section 16 if the direct settlement participantno longer meets the technical, operational, security, settlement account funding or testing requirements set out in the Rules that are applicable to settlement agents; orfails to pay a fee that is applicable to settlement agents set out in a by-law or the Rules.Prior notice to BankBefore making a suspension, the President must provide the Bank with notice of the intention to make the suspension.Notice to participantsAfter making a suspension under section 17 or 18, the President mustwithout delay, notify the direct settlement participant that its approval under section 16 is suspended; andas soon as feasible, notify all other participants of the suspension.Revocation of ApprovalRevocation by BoardThe Board may revoke an approval provided under section 16 if the direct settlement participantno longer has access to the settlement account used in relation to its activities as a settlement agent;no longer meets the technical, operational, security, settlement account funding or testing requirements set out in the Rules that are applicable to settlement agents; orfails to pay a fee that is applicable to settlement agents set out in a by-law or the Rules.Prior notice to BankBefore making a revocation, the Board must provide the Bank with notice of the intention to make the revocation.Notice by PresidentAfter the Board makes a revocation, the President mustwithout delay, notify the direct settlement participant that its approval under section 16 is revoked; andas soon as feasible, notify all participants of the revocation.Reinstatement of ApprovalApplicationA direct settlement participant whose approval under section 16 is suspended under section 17 or 18 or revoked under section 20 may, in the form and manner set out in the Rules, make an application to the President to have that approval reinstated.ReinstatementThe President must reinstate the approval if the application demonstrates that the circumstances giving rise to the suspension or revocation no longer exist.DesignationDesignation of settlement agentsSubject to subsection (6), an indirect settlement participant must, in accordance with the Rules, designatefor the RTR Exchange, one settlement agent to act on its behalf in respect of RTR payment obligations set out in RTR payment messages; andfor each third-party exchange in which it exchanges payment messages, one settlement agent to act on its behalf in respect of RTR payment obligations set out in those payment messages.Multiple designationsA settlement agent may be designated in respect of more than one payment exchange referred to in subsection (1).Identification of payment exchangeThe designation must identify each payment exchange in respect of which it is made.Prior noticeA settlement agent must, for each payment exchange in respect of which the designation is made, provide written notice to the Association, in the form and manner set out in the Rules, before acting for the first time on behalf of the indirect settlement participant in respect of the payment exchange.New designation requiredThe indirect settlement participant must designate a new settlement agent for a payment exchange ifthe current settlement agent for the payment exchange has its designation terminated under section 24 or notice to terminate that designation is provided under subsection 25(1); andthe designation is for the RTR Exchange or a third-party exchange in which the indirect settlement participant intends to continue to exchange payment messages.Termination under section 25In the case where notice to terminate the current settlement agent’s designation is provided under subsection 25(1) and a new settlement agent must be designated in accordance with subsection (5), designation of the new settlement agent must be made before the day on which the current settlement agent’s designation is terminated.Identified payment exchangesA settlement agent may only act on behalf of an indirect settlement participant in relation to a payment exchange identified by the indirect settlement participant in its designation made under section 22.Termination of Designations After Suspension or RevocationTerminationAll designations made under section 22 in respect of a settlement agent are terminated if the settlement agent is, in its capacity as a direct settlement participant or a settlement agent, subject toa suspension under any of sections 9 to 11, 17 or 18; ora revocation under section 13 or 20.When termination occursThe designations are terminated at the time at which the suspension or revocation is made.Settlement agent — effect of terminationA settlement agent must not act on behalf of an indirect settlement participant after its designations are terminated under this section.Termination After Prior NoticeTerminationAn indirect settlement participant or settlement agent who wishes to terminate a designation made under section 22 must, in accordance with the Rules, provide written notice that the designation is to be terminated to the Association and the indirect settlement participant or settlement agent, as the case may be.When termination occursThe designation is terminated on the earlier ofthe day on which the notice period specified in the Rules ends; andone of the following days, as applicable:in the case where a new settlement agent is designated under section 22, the day on which the new settlement agent begins to act on behalf of the indirect settlement participant,in any other case, the day agreed to by the indirect settlement participant and the current settlement agent.Settlement agent must continue to actSubject to subsections (2) and (3), a settlement agent must continue to act on behalf of the indirect settlement participant until the day on which its designation is terminated under section 25.ExceptionsSubject to subsection 39.15(3.1) of the Canada Deposit Insurance Corporation Act, a settlement agent may immediately cease to act on behalf of an indirect settlement participant ifthe settlement agent reasonably believes that the indirect settlement participant poses a legal, financial or operational risk to the settlement agent; orthe indirect settlement participant has breached a substantial term of an agreement entered into with the settlement agent for the purposes of clearing and settlement.ExceptionA settlement agent must immediately cease to act on behalf of an indirect settlement participant during any period of time that the indirect settlement participant is subject to a suspension under any of sections 9 to 11 or to a revocation under section 13.Clearing and SettlementGeneralPayment itemsFor the purpose of the definition payment item in subsection 2(1) of the Act, the classes of payment items are the following:RTR payment messages;settlement instructions generated by RTR Clearing and Settlement for participant-to-participant transfers; andsettlement instructions submitted to RTR Clearing and Settlement by a third-party exchange for payment messages exchanged in the exchange.Settlement accountsThe Association must operate, on behalf of the Bank, one settlement account in RTR Clearing and Settlement for each direct settlement participant.ProceduresEach settlement account must be operated in accordance with the procedures set out in the Rules.RTR Exchange ProcessesSending RTR payment messagesA participant may send RTR payment messages only in the form and manner set out in the Rules.IrrevocableAn RTR payment message cannot be amended or revoked after it is sent to the RTR Exchange.Acceptance by RTR ExchangeThe RTR Exchange must accept an RTR payment message ifthe message is sent to the exchange in accordance with the Rules;the message is not a duplicate of any other message and does not contain an error specified in the Rules;the amount necessary to settle the RTR payment obligation set out in the message does not exceed the “RTR Exchange value limit” as defined in the Rules; andneither the sending participant nor the receiving participant is subject to a suspension under any of sections 9 to 11 or to a direction made under paragraph 48(b).Actions required after acceptanceImmediately after accepting an RTR payment message, the RTR Exchange muston the basis of the RTR payment message, generate settlement instructions and submit them to RTR Clearing and Settlement; andsend the RTR payment message to the receiving participant.Ability to receive RTR payment messageExcept in the circumstances specified in the Rules, a participant must always be able to receive a RTR payment message referred to in paragraph (1)(b).Notice to RTR ExchangeImmediately after receiving the RTR payment message referred to in paragraph (1)(b), the receiving participant must, in accordance with the Rules, send the RTR Exchange a notice indicating whether or not it accepts the payment set out in the message.ClearingGeneralIrrevocableSettlement instructions are irrevocable once they are generated by or submitted to RTR Clearing and Settlement.Acceptance for clearing and settlementSettlement instructions that are submitted to RTR Clearing and Settlement by a payment exchange must be accepted for clearing and settlement ifthe instructions are submitted in accordance with the Rules;the instructions are not a duplicate of any other instructions and do not contain an error specified in the Rules;the amount necessary to clear and settle the RTR payment obligation set out in the instructions does not exceed the “RTR clearing and settlement value limit” as defined in the Rules;the amount of funds available in the sending participant’s settlement account to settle RTR payment obligations is not less than the amount necessary to clear and settle the RTR payment obligation set out in the instructions;in the case where the sending participant is an indirect settlement participant, clearing and settlement of the RTR payment obligation set out in the instructions would not cause the participant to fall below its “net debit cap” as defined in the Rules; andneither the sending participant nor the receiving participant or their respective settlement agents, if any, are subject to a suspension under any of sections 9 to 11, 17 or 18 or to a direction made under paragraph 48(b).Reservation of fundsImmediately after RTR Clearing and Settlement accepts settlement instructions for clearing and settlement, the Association must reserve, in the sending participant’s settlement account, an amount of funds that is equal to the amount necessary to clear and settle the RTR payment obligation if the settlement instructions contain an instruction to reserve the funds.EntriesFor the purpose of subsection (1), the amount is reserved in the sending participant’s settlement account when the Association makes the entries to the account required by the Rules.Use of reserved fundsSubject to subsection 40(2), funds that are reserved under subsection (1) must only be used to settle the RTR payment obligation, regardless of any claim or interest in — or, in Quebec, any right to — those funds that any person other than the sending participant may have.Notice to payment exchangeRTR Clearing and Settlement must send to the payment exchange that submitted the settlement instructions a notice indicating whether or not the funds have been reserved.RTR ExchangePayment outcome reportThe RTR Exchange must, in accordance with the Rules, send the sending participant and the receiving participant a payment outcome report that indicates whether or not the RTR payment obligation will be settled.Positive payment outcome reportIf the following conditions are met, the payment outcome report must indicate that the RTR payment obligation will be settled:the RTR Exchange has received, within the time limit set out in the Rules, a notice under subsection 32(3) indicating that the receiving participant will accept the payment; andthe RTR Exchange has, within the time limit set out in the Rules, received a notice under subsection 35(4) indicating that the funds have been reserved.Direction to implementThe RTR Exchange must submit a direction to RTR Clearing and Settlement to implement the settlement instructions if the conditions referred to in subsection 36(2) are met.Participant-to-Participant TransfersDirectionA direct settlement participant who seeks to effect a participant-to-participant transfer must submit, in accordance with the Rules, a direction to RTR Clearing and Settlement to effect the transfer.Settlement instructionsRTR Clearing and Settlement must generate the settlement instructions for the participant-to-participant transfer directed under section 38 if the direction is submitted in accordance with the Rules.SettlementSettlement requiredThe Association must settle an RTR payment obligation if the associated settlement instructions weregenerated by RTR Clearing and Settlement for a participant-to-participant transfer andthe amount of funds available in the sending participant’s settlement account to settle RTR payment obligations is not less than the amount necessary to clear and settle the RTR payment obligation, andneither the sending participant nor the receiving participant is subject to a suspension under any of sections 9 to 11 or a to direction made under paragraph 48(b);generated by the RTR Exchange and a direction to implement them was submitted to RTR Clearing and Settlement in accordance with section 37; orgenerated by a third-party exchange andthe instructions were accepted for clearing and settlement under section 34, andif the instructions contained an instruction to reserve an amount of funds, the funds were reserved under section 35 and a direction to implement the instructions was submitted to RTR Clearing and Settlement by the third-party exchange.Release of reserved fundsIf the Association is not required to settle the RTR payment obligation under subsection (1), it must release all funds that have been reserved in respect of that payment obligation under section 35.EntriesFor the purpose of subsection (2), the amount is released in the sending participant’s settlement account when the Association makes the entries to the account required by the Rules.Settlement effectedFor the purpose of this By-law, an RTR payment obligation is settled in RTR Clearing and Settlement when the Associationtransfers an amount equal to the amount of the RTR payment obligation from the sending participant’s settlement account to the receiving participant’s settlement account; andmakes the corresponding entries to those accounts in accordance with the procedures set out in the Rules.Final and irrevocableA transfer that is made in accordance with subsection (1) is final and irrevocable.Notice of settlementIf the settlement instructions associated with the RTR payment obligation were generated by the RTR exchange, the Association must, immediately after the obligation is settled, send the sending participant and the receiving participant a notice of settlement.Payments to PayeesScopeSections 43 to 47 apply in respect of the payment of an amount to a payee as a result of the settlement of a RTR payment obligation that was set out in an RTR payment message.PaymentSubject to section 45, the receiving participant must, within the time limit set out in the Rules, make the amount of the payment available to the payee.Making payment available to payeeThe amount of a payment is made available to a payee when the earliest of the following actions is taken:the receiving participant credits the amount to an account of the payee;the receiving participant lawfully applies the amount against a debt of the payee; andthe receiving participant otherwise makes the amount of the payment accessible to the payee.Final and irrevocableExcept in the circumstances specified in the Rules, a payment made under subsection (1) is final and irrevocable.Payee identifierA receiving participant who receives a payment message in the RTR Exchange that identifies the payee both by name and an account number or other identifier specified in the Rules may rely on that account number or other identifier for the purpose of making the amount of the payment available to the payee.Reliance on payee identifierA receiving participant who relies on an account number or other identifier for the purpose of making the amount of the payment available to the payee is deemed to have complied with section 43.Exceptional circumstancesIf any of the following exceptional circumstances exist, the receiving participant must comply with the procedures set out in the Rules for those circumstances instead of making the amount of the payment available to the payee:the payment message received by the receiving participant contains an error or omission specified in the Rules;the amount of the payment to be made available must be converted into a currency other than Canadian dollars;the receiving participant has reasonable grounds to believe that the payment message contains “malicious content” or “harmful content” as defined in the Rules;the receiving participant cannot make the amount of the payment available due to circumstances beyond its control;the receiving participant cannot make the amount of the payment available because of a restriction it has imposed on the payee or the account to which the payment is to be credited;in order to comply with a law or an order of a court, the receiving participant cannot make the amount of the payment available to the payee; orthe receiving participant agrees to the payee’s request that the amount of the payment not be made available to them.Obligations to payeeThe obligations of a receiving participant under sections 43 and 45 are to the payee and no obligation is owed by the receiving participant to the sending participant or any other person solely because of any of those sections.Requirements not limitedThe requirements set out in sections 43 and 45 must not be limited by the Rules or any agreement.EmergenciesEmergency conditionIf communications between the RTR system and a participant are interrupted, the ability of the RTR system to receive, send or otherwise process payment messages or to clear and settle RTR payment obligations is impaired, the safe and efficient operation of the RTR system is placed into question or any other emergency affects its operations, the President may, with prior notice to the Bank and in accordance with the procedures set out in the Rules,direct that, for a specified period of time, settlement instructions from a third-party exchange must not be accepted by RTR Clearing and Settlement;direct that, for a specified period of time, participants must notsend RTR payment messages to the RTR Exchange,submit settlement instructions to RTR Clearing and Settlement, orsubmit directions to RTR Clearing and Settlement to effect participant-to-participant transfers; ordirect the Association or a participant to take any other action necessary to ensurethe safe and efficient operation of the RTR system, orthe continued processing of payment messages or clearance and settlement of RTR payment obligations.Consequential AmendmentsCanadian Payments Association By-law No. 6 — Compliance[Amendments]Canadian Payments Association By-law No. 2 — Finance[Amendments]Canadian Payments Association By-law No. 1 — General[Amendments]Coming into ForceAugust 24, 2026 or registrationThis By-law comes into force on August 24, 2026, but if it is registered after that day, it comes into force on the day on which it is registered.