Canadian Payments Association By-law No. 9 — Lynx (SOR/2021-182)

Marginal note:Emergency condition

49 If communications between Lynx and a participant are interrupted, the ability of Lynx to receive, send or otherwise process payment messages or to settle Lynx payment obligations is impaired, the safe and efficient operation of Lynx is placed into question or any other emergency affects its operations, the President, with the prior agreement of the Bank and in accordance with the procedures set out in the Rules, may

• (a) direct that the Lynx operating schedule, or the conduct of any event in the schedule, be changed;

• (b) direct a participant not to send payment messages for a specified period of time;

• (c) direct that any day is not a business day; or

• (d) direct the Association or a participant to take any other action necessary to ensure

  • (i) the safe and efficient operation of Lynx, or

  • (ii) the continued processing of payment messages or settlement of Lynx payment obligations.