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Proceeds of Crime (Money Laundering) and Terrorist Financing Act

Version of section 75 from 2014-06-19 to 2020-09-09:


Marginal note:Reporting and regulations — sections 7 and 7.1 and subsection 11.49(1)

  •  (1) Every person or entity that knowingly contravenes section 7 or 7.1 or any regulation made under subsection 11.49(1) is guilty of an offence and liable

    • (a) on summary conviction,

      • (i) for a first offence, to a fine of not more than $500,000 or to imprisonment for a term of not more than six months, or to both, and

      • (ii) for a subsequent offence, to a fine of not more than $1,000,000 or to imprisonment for a term of not more than one year, or to both; or

    • (b) on conviction on indictment, to a fine of not more than $2,000,000 or to imprisonment for a term of not more than five years, or to both.

  • Marginal note:Defence for employees

    (2) No employee of a person or an entity shall be convicted of an offence under subsection (1) in respect of a transaction or proposed transaction that they reported to their superior or in respect of property whose existence they reported to their superior.

  • 2000, c. 17, s. 75
  • 2001, c. 41, s. 74
  • 2010, c. 12, s. 1879
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