Proceeds of Crime (Money Laundering) and Terrorist Financing Registration Regulations

3 (1) An entity that is a corporation is not eligible for registration with the Centre if the chief executive officer, the president or any director of that entity or any person or entity that owns or controls, directly or indirectly, 20 per cent or more of the shares of that entity is a person or entity referred to in any of paragraphs 11.11(1)(a) to (d) of the Act.

(2) An entity that is not a corporation is not eligible for registration with the Centre if the chief executive officer, the president or any director of that entity or any person or entity that owns or controls, directly or indirectly, 20 per cent or more of that entity is a person or entity referred to in any of paragraphs 11.11(1)(a) to (d) of the Act.