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

Marginal note:Obligation to deposit

56 If the amounts credited into the settlement account under section 55 do not eliminate the shortfall in the account, every indirect clearer or member belonging to a group shall, if settlement has not been effected with its clearing agent or group clearer that is in default, as the case may be, deposit into the settlement account an amount equal to the difference between the balance in its settlement account with the clearing agent or group clearer and the amount it owes to the clearing agent or group clearer as a result of clearing for the current ACSS cycle.