PASA’s constitution creates PASA as a voluntary association with a separate legal personality from that of its members and officers. It further lays out the basis on which PASA operates, including the rights and obligations of members. PASA’s members are bound by these obligations and all the applicable PASA rules, which include the PASA Regulatory Framework and the clearing rules for individual payment streams. PASA has a governing body called PASA Council, which approves strategy and oversees implementation and execution. PASA Council has delegated some of its powers to PASA Structures, which include PCH PGS and strategy forums. PASA Council has also delegated some of its authority to a Chief Executive Officer (CEO) who is responsible for managing PASA’s day-to-day operations.