Canadian Payments Association By-law No. 3 — Payment Items and Automated Clearing Settlement System

Marginal note:Means of settlement

5 Settlement is effected by one of the following means, as specified in the rules:

• (a) by a payment message within the meaning of section 1 of By-law No. 7 Respecting the Large Value Transfer System;

• (a.1) by a payment message as defined in section 1 of the Canadian Payments Association By-law No. 9 — Lynx;

• (b) on the basis of clearing balances established by the ACSS; or

• (c) through a clearing agent.