Freezing Assets of Corrupt Foreign Officials Act (S.C. 2011, c. 10)

Application for a Certificate

Marginal note:Mistaken identity

• 14 (1) A person claiming not to be a politically exposed foreign person may apply to the Minister in writing for a certificate stating that they are not a politically exposed foreign person who is the subject of an order or regulation made under section 4.

• Marginal note:Certificate — ​time frame

  (2) If the Minister determines that the person is not a politically exposed foreign person, the Minister must issue a certificate to the applicant as soon as feasible.

Marginal note:Reasonable expenses

• 15 (1) A person who is the subject of an order or regulation made under section 4 may apply to the Minister in writing for a certificate to exempt property from the application of the order or regulation if the property is necessary to meet the reasonable expenses of the person and their dependants.

• Marginal note:Certificate — time frame

  (2) If the Minister determines that the property is necessary to meet the reasonable expenses of the applicant and their dependants, the Minister must issue a certificate to the applicant as soon as feasible.

General

Marginal note:No civil liability

16 A person who, in relation to any property that is the subject of an order or regulation made under section 4, acts reasonably in taking, or omitting to take, measures to comply with the order or regulation is not liable in any civil action arising from having taken or omitted to take the measures if they took all reasonable steps to satisfy themselves that the property was property that is the subject of the order or regulation.

Marginal note:Existing equities maintained

17 All secured and unsecured rights and interests in any property that is the subject of an order or regulation made under section 4 that are held by a person, other than the politically exposed foreign person who is the subject of the order or regulation, are entitled to the same ranking that they would have been entitled to had the order or regulation not been made.

Marginal note:Proceedings not precluded

18 The making of an order or regulation under section 4 does not preclude the commencement of proceedings under any Act of Parliament other than this Act, or any civil proceedings, in respect of any property that is subject of the order or regulation.

Marginal note:Regulations

19 The Governor in Council may make regulations for carrying out the purposes and provisions of this Act, including regulations prescribing anything that by this Act is to be prescribed.

Review and Report

Marginal note:Review

• 20 (1) Within five years after this section comes into force, a comprehensive review of the provisions and operation of this Act and of the Special Economic Measures Act must be undertaken by such committee of the Senate and of the House of Commons as may be designated or established by the Senate and the House of Commons for that purpose.

• Marginal note:Report

  (2) The committees referred to in subsection (1) must, within a year after a review is undertaken pursuant to that subsection or within such further time as may be authorized by the Senate or the House of Commons, as the case may be, submit a report on the review to Parliament, including a statement of any changes that the committees recommend.