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payer

      1. (1) (for the purposes of FEES 9) a person who holds a payment account and allows instructions to be given to transfer funds from that payment account, or who gives instructions to transfer funds.
      1. (2) (for purposes other than FEES 9)
        1. (a) a person who holds a payment account and initiates, or consents to the initiation of, a payment order from that payment account; or
        1. (b) where there is no payment account, a person who gives a payment order.
Glossary Related Taxonomy Legal Instruments