Proceeds of Crime (Money Laundering) and Terrorist Financing Act

Marginal note:Disclosure of information to the Canadian Security Intelligence Service

• 55.1 (1) If the Centre, on the basis of its analysis and assessment under paragraph 54(c), has reasonable grounds to suspect that designated information would be relevant to threats to the security of Canada, the Centre shall disclose that information to the Canadian Security Intelligence Service.

• Marginal note:Recording of reasons for decision

  (2) The Centre shall record in writing the reasons for all decisions to disclose information made under subsection (1).

• Definition of designated information

  (3) For the purposes of subsection (1), designated information means, in respect of a financial transaction or an importation or exportation of currency or monetary instruments,

  • (a) the name of the client or of the importer or exporter, or any person or entity acting on their behalf;

  • (b) the name and address of the place of business where the transaction occurred or the address of the customs office where the importation or exportation occurred, and the date the transaction, importation or exportation occurred;

  • (c) the amount and type of currency or monetary instruments involved or, in the case of a transaction, if no currency or monetary instruments are involved, the value of the transaction or the value of the funds that are the subject of the transaction;

  • (d) in the case of a transaction, the transaction number and the account number, if any; and

  • (e) any other similar identifying information that may be prescribed for the purposes of this section.