authority tohonourthefundstransfer instruction byreasonoftheappearance ofthirdpartyrights. Inbothcasesthetransferor bankmustnotifyitsown personnel ofthewithdrawal ofauthority and.inthecaseofacredit transfer. itmayberequired toattempt tonotifythetransferee banknotto creditthetransferee's account. (b)Notices giventoabank 62.Ruleswhichterminate thebank'sauthority toactuponnoticetothebank mayalsoindicate theformofthenotice andtheinformation whichmustbe contained init.thepersontoreceive thenoticefortilebankandwhether the noticehasanimmediate effectuponthebank'sauthority toactorwhether the bankhastimetocommunicate thenoticeinternally. 63.Insomelegalsystems anoralnoticeofdeath.oftheconwencement of insolvency proceedings orofthewithdrawal ofafundstransfer instruction may besufficient torequire thebanktostopanyfundstransfers in progress. Theoralnoticemay bevalidforalimited periodoftimeand be subject toconfirmation by alaterwritten notice. Inmostlegalsystems a writtennoticeofwithdrawal ofafundstransfer i.nstruction may beinformal and may be communicated bytelecommunications. Attachment ofanaccount would alwaysbeinaformallegalwriting. 64.Anoticegiventoatransferor bankthatallfundstransfers by a particular tra~sferor aretobestopped needonlyindicate accurately the account oraccounts affected bythenotice. Inthecaseofacredittransfer wherethetransferor bankmay berequired tonotifyotherbanksofthedeath. commencement ofinsolvency proceedings orattachment. thetransferor bank itselfwouldhavealloftherelevant information. 65.Anoticeby atransferor withdrawing onlyoneormorespecific funds transfer instructions mustbe more precise sinceitmustdescribe theaffected fundstransfer instruction orinstructions withreasonable precision aswell asidentifying theaccount. Thisrequirement cancauseseriousdifficulties wherelargenumbers ofinstructions areissuedagainst theaccount orwhereA/CN.9/266/Add.l English Page18 theaccount records arekeptoncomputers. Anoticecontaining a typographical urothererrormight,nevertheless, besufficient toalerta bankclerkworking withaccount records invisible form.However, because of thesimilarity ofdataon many fundstransfer instructions, ifthenoticeof withdrawal asentered intothecomputer doesnotaccordexactly withthefunds transfer instruction onallmaterial particulars, thecomputer may beunable tolocatetheinstruction inquestion except byinitially rejecting allfunds transfer instructions whicharesimilar totheonebeingwithdrawn and subjecting themtoindividual review bybankstaff. Suchaprocedure may be excessively expensive. 66.Anyofthenotices toabankunderdiscussion mayhavelegaleffectonly asofthetimewhenitisgiventothebank.Wherethebankhasmultiple branches, thenoticemayneedtobegiventothebranchwheretheaccount is maintained. Unlesstheappropriate persontoreceive thenoticeisactually thepersonrequired toimplement it,thebankwillneedareasonable periodof timetocommunicate thenoticewithinthebankbeforeitcanhaveany • practical effect, whether ornotthenoticemay belegally effective priorto thattime.Furthermore, ifimplementation ofthenoticerequires its communication tootherbanks, anadditional periodoftimemay berequired for thispurpose. Thisneedfortimetocommunicate thenoticewithinthebankor toanother bankmay berecognized bythelawindetermining thetimeatwhich thenoticehaslegaleffect. 67.Thetimetobeallowed forthebanktocommunicate thenoticebeforethe notice becomes legally effective canbephrased onlyingeneral terms, suchas theamountoftimewhichanybankwouldreasonably needtocommunicate the notice, orastheamountoftimewhichabankwouldreasonably needinthe lightofitsownexisting internal conwunication system. Thegeneral installation bybanksofon-line accesstotheircustomer account records wouldreducetheperiodoftimeallowed forallbankstocommunicate notices. 68.Oneeffectofoff-line batch--processing offundstransfer instructions is todecrease thelikelihood thatabank(orautomatic clearing-house) willbe abletowithdraw aspecific fundstransfer instruction fromtheprocessing afterreceipt ofanoticetodoso.sincemostoff-line batch-processing systems donotpermittheeconomical searchforanindividual instruction, automatic clearing--houses oftendonotpermitthewithdrawal ofaninstruction oncethecomputer memorydevices havebeendelivered orcommunicated tothem, though somepermitwithdrawal foraperiodoftimebeforeprocessing begins. Similarly, therulesgoverning suhmission ofdebittransfer instructions
**Analysis**
The text appears to be discussing the legal and technical aspects of bank transactions, specifically the process of withdrawing or cancelling a fund transfer instruction. The language used is formal and technical, indicating that the text is related to financial regulations or banking practices. The topics covered, such as notices, insolvency proceedings, and attachment of accounts, suggest that the text is more relevant to the financial sector than to other areas.

**Category**
Finance, Industry