Canadian Payments Association By-law No. 3 — Payment Items and Automated Clearing Settlement System
Marginal note:30 days notice
Marginal note:Obligation of General Manager
(2) The General Manager shall inform the direct clearers and group clearers of the notice in accordance with the rules.
(3) Despite subsection (1), the clearing agent shall not cease acting for an indirect clearer if another clearing agent is designated to act for the indirect clearer until the other clearing agent has started acting for the indirect clearer.
Marginal note:Status revoked
(4) Despite subsections (1) and (3), a clearing agent shall cease to act without delay if its status is revoked.
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