Distinguish Between the Settlement of Transactions and the Settlement of Payment

question 26

Essay

Distinguish between the settlement of transactions and the settlement of payment instructions.Provide an overview of the scale of payments instructions in Australia and explain how these instructions are settled.

Recognize and correctly use legal references and terminology.

Develop skills in writing with clarity and precision for legal contexts.

Identify and apply the principles of paragraph construction in legal writing.

Utilize active voice and avoid passive voice in legal writing.

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Definitions:

Alien Species

Alien species, also known as invasive species, are organisms that are introduced to a new habitat where they are not native, often causing harm to the environment, economy, or human health.

Great Lakes

A group of five large, interconnected freshwater lakes located on the border between the United States and Canada, significant for their water resources, biodiversity, and transportation routes.

Thermal Pollution

The degradation of water quality by any process that changes ambient water temperature, typically due to industrial activities like power plants.

Sea Lamprey

A parasitic lamprey native to the Northern Hemisphere, known for its detrimental effect on populations of freshwater fish.