Justice for Victims of Corrupt Foreign Officials Act (Sergei Magnitsky Law)

Marginal note:Duty to disclose — supervising and regulating agencies

• 7 (1) If it determines that it is in possession or control of any property referred to in section 6, an entity referred to in that section must disclose without delay, and once every three months after that, to the principal agency or body that supervises or regulates it under federal or provincial law the fact that it is in possession or control of the property, the number of persons or dealings involved and the total value of the property.

• Marginal note:Duty to disclose — RCMP or CSIS

  (2) Every person in Canada and every Canadian outside Canada must disclose without delay to the Commissioner of the Royal Canadian Mounted Police or the Director of the Canadian Security Intelligence Service

  • (a) that they have reason to believe that property in their possession or control is owned, held or controlled by or on behalf of a foreign national who is the subject of an order or regulation made under section 4; and

  • (b) any information about a transaction or proposed transaction in respect of property referred to in paragraph (a).

• Marginal note:Immunity

  (3) No proceedings under this Act and no civil proceedings lie against a person for a disclosure made in good faith under subsection (1) or (2).