Settlement
From ACT Wiki
1.
An act that discharges obligation in respect of funds or securities transfers between two or more parties.
2.
Pensions.
An irrevocable action that relieves the employer of the primary responsibility for a pension obligation, thus eliminating associated risks.
3.
Any action or agreement that resolves or concludes an uncertain or disputed obligation, often including the payment of an agreed cash amount.
4.
The disposal of assets via a trust arrangement.
