By-law No. 7 Respecting the Large Value Transfer System

65 In the event that communications between the LVTS central site and one or more participants are interrupted, the ability of the LVTS central site to receive, transmit, send, approve or otherwise process a payment message or administrative message is impaired, the safe and efficient operation of the LVTS is placed into question or some other emergency affects its operations, the President may, with the prior agreement of the Bank of Canada and any other persons that may be designated by the Board,

• (a) change the hours of operation of the LVTS;

• (b) direct any, several, or all of the participants not to make payments through the LVTS pending resolution of the problem;

• (c) order the immediate termination of the LVTS cycle and an immediate settlement of the LVTS cycle on the books of the Bank of Canada;

• (d) prohibit the commencement of an LVTS cycle; or

• (e) direct any other action that the President may deem necessary.