Canadian Payments Association By-law No. 10 — RTR (SOR/2026-133)

Marginal note:Exceptional circumstances

45 If any of the following exceptional circumstances exist, the receiving participant must comply with the procedures set out in the Rules for those circumstances instead of making the amount of the payment available to the payee:

• The following provision is not in force.

  (a) the payment message received by the receiving participant contains an error or omission specified in the Rules;

• The following provision is not in force.

  (b) the amount of the payment to be made available must be converted into a currency other than Canadian dollars;

• The following provision is not in force.

  (c) the receiving participant has reasonable grounds to believe that the payment message contains “malicious content” or “harmful content” as defined in the Rules;

• The following provision is not in force.

  (d) the receiving participant cannot make the amount of the payment available due to circumstances beyond its control;

• The following provision is not in force.

  (e) the receiving participant cannot make the amount of the payment available because of a restriction it has imposed on the payee or the account to which the payment is to be credited;

• The following provision is not in force.

  (f) in order to comply with a law or an order of a court, the receiving participant cannot make the amount of the payment available to the payee; or

• The following provision is not in force.

  (g) the receiving participant agrees to the payee’s request that the amount of the payment not be made available to them.

Marginal note:Obligations to payee

46 The obligations of a receiving participant under sections 43 and 45 are to the payee and no obligation is owed by the receiving participant to the sending participant or any other person solely because of any of those sections.

Marginal note:Requirements not limited

47 The requirements set out in sections 43 and 45 must not be limited by the Rules or any agreement.

Marginal note:Emergency condition

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

• The following provision is not in force.

  (a) direct that, for a specified period of time, settlement instructions from a third-party exchange must not be accepted by RTR Clearing and Settlement;

• The following provision is not in force.

  (b) direct that, for a specified period of time, participants must not

  • (i) send RTR payment messages to the RTR Exchange,

  • (ii) submit settlement instructions to RTR Clearing and Settlement, or

  • (iii) submit directions to RTR Clearing and Settlement to effect participant-to-participant transfers; or

• The following provision is not in force.

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

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

  • (ii) the continued processing of payment messages or clearance and settlement of RTR payment obligations.

49 [Amendments]

50 [Amendments]

51 [Amendments]