Canadian Payments Association By-law No. 9 — Lynx — 1
Definitions 1 The following definitions apply in this By-law. Act means the Canadian Payments Act . ( Loi ) Bank means the Bank of Canada. ( Banque ) business day has the same meaning as in the Rules. ( jour ouvrable ) collateral means a form of collateral that is identified by the Bank in written communications with members as an acceptable form of security for funds loaned or advanced to the member by the Bank. ( garantie ) conditional release mechanism means a mechanism in Lynx in which settlement instructions are temporarily held before being sent to a settlement mechanism or being rejected. ( mécanisme de déblocage conditionnel ) entry means, in respect of an entry to a Lynx account or an intraday loan account, an entry on the books of the Bank. ( écriture ) finalization window means the final window of the payments processing cycle. ( période de clôture ) financial message service provider means a person who, or an entity that, provides an electronic message service that allows members to exchange financial information, but does not include the Association or a member. ( fournisseur de service de messagerie financière ) intraday loan means a loan made by the Bank to a participant in accordance with subsection 22 (1). ( prêt intrajournalier ) intraday loan account means an account on the books of the Bank that a participant has in Lynx and to which the Association makes entries respecting the making and repayment of the participant’s intraday loan. ( compte de prêt intrajournalier ) Lynx means the electronic funds transfer system that is owned and operated by the Association. ( Lynx ) Lynx account means an account on the books of the Bank that a participant has in Lynx and to which the Association makes entries respecting the settlement of Lynx payment obligations and transfers of funds to and from the account. ( compte Lynx ) Lynx operating schedule means the schedule for Lynx operations that is set out in the Rules. ( horaire d’exploitation de Lynx ) Lynx payment obligation means the obligation of a sending participant to pay a fixed amount to a receiving participant through Lynx. ( obligation de paiement de Lynx ) overnight advance means a loan that has a term of one business day, is on the books of the Bank and is made by the Bank to a participant for the purpose of enabling the participant to repay its intraday loan. ( avance à un jour ) participant means a member who is approved to participate in Lynx in accordance with this By-law. ( participant ) payee means the person, including a receiving participant, to whom the amount specified in a payment message is to be paid or credited, whether or not that person is the ultimate beneficiary of the amount. ( bénéficiaire ) payment confirmation reference number means the alpha-numeric confirmation number that is generated by Lynx to identify a Lynx payment obligation that has been settled through Lynx. ( numéro de confirmation du paiement ) payment message means an electronic message that contains settlement instructions and the information necessary for the receiving participant to make the amount of the payment finally and irrevocably available to the payee. ( message de paiement ) payments processing cycle means the portion of the Lynx operating schedule during which Lynx payment obligations may be settled through Lynx, including the finalization window. ( cycle de traitement des paiements ) pledge means a grant to the Bank of security in collateral for funds loaned or advanced by the Bank, and it includes the grant of security in which the Bank does not take possession of the collateral. ( nantissement ) real-time settlement mechanism means the settlement mechanism that is used to make and repay intraday loans and make overnight advances. ( mécanisme de règlement en temps réel ) receiving participant means a participant who receives a payment message from another participant. ( participant destinataire ) reserved collateral mechanism means the settlement mechanism that