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Proceeds of Crime (Money Laundering) and Terrorist Financing Act (S.C. 2000, c. 17)

Act current to 2020-07-28 and last amended on 2020-06-01. Previous Versions

PART 1Record Keeping, Verifying Identity, Reporting of Suspicious Transactions and Registration (continued)

Registration (continued)

Application and Revocation (continued)

Marginal note:Ineligible for registration

  •  (1) The following persons or entities are not eligible for registration with the Centre:

    • (a) a person or entity that is subject to sanctions associated with terrorist activity or a prohibition relating to financial services under the United Nations Act;

    • (b) a listed entity as defined in subsection 83.01(1) of the Criminal Code;

    • (b.1) a person or entity that is subject to a prohibition on financial or related services under the Special Economic Measures Act;

    • (c) a person or entity that has been convicted of any of the following:

      • (i) a money laundering offence, or an offence under the laws of a foreign state that is substantially similar to a money laundering offence,

      • (ii) a terrorist activity financing offence, or an offence under the laws of a foreign state that is substantially similar to a terrorist activity financing offence,

      • (iii) an offence under this Act or the Proceeds of Crime (money laundering) Act, chapter 26 of the Statutes of Canada, 1991 when convicted on indictment, or an offence under the laws of a foreign state that is substantially similar to an offence under either Act,

      • (iv) an offence under any of sections 83.18 to 83.231, 354 or 467.11 to 467.13 of the Criminal Code, or an offence under the laws of a foreign state that is substantially similar to such an offence, or

      • (v) a conspiracy or an attempt to commit, being an accessory after the fact in relation to, or any counselling in relation to, an offence referred to in subparagraphs (i) to (iv);

    • (d) a person or entity that has been convicted on indictment or convicted more than once of an offence under any of the following, or that has been convicted of an offence under the laws of a foreign state that is substantially similar to an offence under any of the following:

      • (i) Part X of the Criminal Code,

      • (ii) the Controlled Drugs and Substances Act, except for the offence under subsection 4(1) of that Act,

      • (ii.1) the Cannabis Act, except for an offence under subsection 8(1) of that Act,

      • (iii) section 39, 44.2, 44.3, 48, 50.2 or 50.3 of the Food and Drugs Act, as that section read immediately before May 14, 1997, or

      • (iv) section 4, 5, 6, 19.1 or 19.2 of the Narcotic Control Act, chapter N-1 of the Revised Statutes of Canada, 1985, as that section read immediately before May 14, 1997;

    • (e) an entity that is a corporation in respect of which a director, the chief executive officer, the president or a person who owns or controls, directly or indirectly, 20% or more of the shares has been convicted on indictment of an offence under this Act or the Proceeds of Crime (money laundering) Act, chapter 26 of the Statutes of Canada, 1991 or has been convicted of an offence under the laws of a foreign state that is substantially similar to an offence under either Act;

    • (e.1) a person or entity referred to in paragraph 5(h.1) that, having committed a violation, or a series of minor violations, under this Act that is classified as a serious violation or a very serious violation and being liable to a penalty for it, and 30 days having elapsed since the day on which all proceedings in respect of the violation are ended, has still not paid the penalty together with any interest imposed under section 73.28; or

    • (f) any prescribed person or entity.

  • Marginal note:Revocation of registration

    (2) If the Centre becomes aware that a person or entity referred to in subsection (1) is registered, the Centre shall revoke the registration and shall, without delay, inform the person or entity of the revocation.

  • 2006, c. 12, s. 11
  • 2014, c. 20, s. 262
  • 2017, c. 20, s. 420
  • 2018, c. 16, s. 183

Marginal note:Application for registration

  •  (1) An application for registration shall be submitted to the Centre in the prescribed form and manner and shall include

    • (a) a list of the applicant’s agents or mandataries or branches that are engaged, on behalf of the applicant, in the activities referred to in paragraph 5(h) or (h.1), in issuing or selling money orders to, or redeeming them from, the public if the applicant is a person or entity referred to in paragraph 5(l), or in any prescribed activities;

    • (b) if the applicant is a person referred to in paragraph 5(h.1)

      • (i) the name and address for service of an individual who resides in Canada and who is authorized to accept, on behalf of the person, notices that are served or caused to be served by the Centre under this Act,

      • (ii) a document that sets out the person’s record of criminal convictions, or states that the person does not have one, that is issued by a competent authority of the foreign state in which the person resides, and, if the document is made in a language other than English or French, a translation of it into one of those languages attested to by a person who is recognized as a certified translator by a provincial organization or body that is competent under provincial law to issue such certifications;

    • (c) if the applicant is an entity referred to in paragraph 5(h.1)

      • (i) the name and address for service of an individual who resides in Canada and who is authorized to accept, on behalf of the entity, notices that are served or caused to be served by the Centre under this Act, and

      • (ii) for each of the chief executive officer, the president and the directors of the entity and for each person who owns or controls, directly or indirectly, 20% or more of the entity or the shares of the entity, a document that sets out the person’s record of criminal convictions, or states that the person does not have one, and that is issued by a competent authority of the foreign state in which the person resides, and, if the document is made in a language other than English or French, a translation of it into one of those languages attested to by a person who is recognized as a certified translator by a provincial organization or body that is competent under provincial law to issue such certifications; and

    • (d) any prescribed information.

  • Marginal note:Agents, mandataries and branches

    (2) Any agent, mandatary or branch included on the list is not required to register with the Centre when they are acting in that capacity.

  • 2006, c. 12, s. 11
  • 2014, c. 20, s. 263
  • 2017, c. 20, ss. 421, 439

Marginal note:Changes to information

  •  (1) An applicant or a person or entity registered with the Centre shall notify the Centre, in the prescribed form and manner, of any change to the information provided in the application or of any newly obtained information that should have been included in the application within 30 days after the day on which the applicant or the registered person or entity becomes aware of the change or obtains the new information.

  • Marginal note:Denial or revocation

    (2) If the name or address for service of a person referred to in subparagraph 11.12(1)(b)(i) or (c)(i) changes, and an applicant or registered person or entity who is or was required to provide the information described in paragraph 11.12(1)(b) or (c) does not, within the period provided in subsection (1), provide the Centre with the new name or address for service, the Centre shall without delay after becoming aware of that fact deny the application, or revoke the registration, as the case may be, and shall, without delay, inform the applicant or registered person or entity of the denial or revocation.

  • 2006, c. 12, s. 11
  • 2014, c. 20, s. 264

Marginal note:Clarifications — applicant

  •  (1) An applicant shall provide the Centre, in the prescribed form and manner, with any clarifications that the Centre may request in respect of the information described in subsection 11.12(1) within 30 days after the day on which the request is made.

  • Marginal note:Denial of application

    (2) If the applicant does not provide the Centre with the clarifications within the 30 days, the Centre may deny the application and shall, without delay, inform the applicant of the denial.

  • 2006, c. 12, s. 11
  • 2014, c. 20, s. 265

Marginal note:Notice of registration

 The applicant is registered with the Centre once the Centre adds the applicant to the registry referred to in subsection 54.1(1). The Centre shall, without delay, send the applicant notice of their registration.

  • 2006, c. 12, s. 11
 
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