Proceeds of Crime (Money Laundering) and Terrorist Financing Act

Marginal note:Regulations

• 73 (1) The Governor in Council may, on the recommendation of the Minister, make any regulations that the Governor in Council considers necessary for carrying out the purposes and provisions of this Act, including regulations

  • (a) describing businesses, professions and activities for the purpose of paragraph 5(i);

  • (b) describing businesses and professions for the purpose of paragraph 5(j), and the activities to which that paragraph applies;

  • (c) describing the activities to which paragraph 5(l) applies;

  • (d) specifying the types of records to be kept and retained under section 6 and the information to be included in them;

  • (e) specifying the period for which, and the methods by which, records referred to in paragraph (d) are to be retained;

  • (e.1) specifying the information to be contained in a report under section 7 or 7.1 or subsection 9(1);

  • (e.2) prescribing the form and manner in which persons or entities or classes of persons or entities shall report under section 7, 7.1, 9 or 9.1;

  • (f) specifying measures, and the periods within which those measures must be taken, that persons or entities are to take to identify any person or entity that requests the opening of an account or any person or entity in respect of which a record is required to be kept or a report made;

  • (g) defining casinos, courier and monetary instruments;

  • (h) specifying the form and manner of reporting currency and monetary instruments for the purpose of subsection 12(1), and the information to be contained in the form, and specifying the period within which the reporting must be made;

  • (i) prescribing the circumstances referred to in section 9.2;

  • (j) prescribing, for the purposes of subsection 9.3(1), the manner for determining whether a person is a politically exposed foreign person and the circumstances in which it is necessary to make that determination;

  • (k) prescribing, for the purposes of subsection 9.3(2), the circumstances in which it is necessary to obtain the approval of senior management and the measures to be taken when dealing with a politically exposed foreign person;

  • (l) prescribing the offices and positions whose holders are politically exposed foreign persons for the purposes of paragraph 9.3(3)(j), prescribing the family members that are included in the definition politically exposed foreign person in subsection 9.3(3) and defining foreign state for the purposes of that subsection;

  • (m) prescribing the foreign entities to which subsection 9.4(1) applies and, for the purposes of that subsection, prescribing the information to be obtained about those entities and prescribing the measures to be taken;

  • (n) defining the expression shell bank referred to in section 9.4;

  • (o) prescribing the services referred to in the definition correspondent banking relationship in subsection 9.4(3);

  • (p) prescribing the electronic funds transfers to which section 9.5 applies, the information to be included with those transfers and the measures to be taken under that section;

  • (q) specifying the manner for establishing and implementing the program referred to in subsection 9.6(1);

  • (r) prescribing the special measures to be taken under subsection 9.6(3);

  • (s) prescribing persons and entities that must be registered with the Centre under section 11.1;

  • (t) prescribing persons or entities or classes of persons or entities that are not subject to section 11.1;

  • (u) prescribing, for the purposes of paragraph 11.11(1)(f), persons or entities that are not eligible for registration;

  • (v) prescribing the form and manner of submitting an application for registration under subsection 11.12(1) and the information that must be included with the application;

  • (w) prescribing the form and manner of notifying the Centre of any information that must be provided under section 11.13;

  • (x) prescribing the form and manner of providing the Centre with any clarifications under subsection 11.14(1) and any clarifications under subsection 11.17(1);

  • (y) prescribing, for the purposes of section 11.19, the form and manner for renewing registration and any longer renewal period;

  • (z) defining identifying information for the purposes of subsection 54.1(3); and

  • (z.1) prescribing anything else that by this Act is to be prescribed.

• (2) and (3) [Repealed, 2001, c. 41, s. 73]