83.09 (1) The Minister of Public Safety and Emergency Preparedness, or a person designated by him or her, may authorize any person in Canada or any Canadian outside Canada to carry out a specified activity or transaction that is prohibited by section 83.08, or a class of such activities or transactions.
Marginal note:Ministerial authorization
(2) The Minister, or a person designated by him or her, may make the authorization subject to any terms and conditions that are required in their opinion and may amend, suspend, revoke or reinstate it.
Marginal note:Existing equities maintained
(3) All secured and unsecured rights and interests in the frozen property that are held by persons, other than terrorist groups or their agents, are entitled to the same ranking that they would have been entitled to had the property not been frozen.
Marginal note:Third party involvement
(4) If a person has obtained an authorization under subsection (1), any other person involved in carrying out the activity or transaction, or class of activities or transactions, to which the authorization relates is not subject to sections 83.08, 83.1 and 83.11 if the terms or conditions of the authorization that are imposed under subsection (2), if any, are met.
- 2001, c. 41, s. 4;
- 2005, c. 10, s. 21.
83.1 (1) Every person in Canada and every Canadian outside Canada shall disclose without delay to the Commissioner of the Royal Canadian Mounted Police or to the Director of the Canadian Security Intelligence Service
(a) the existence of property in their possession or control that they know is owned or controlled by or on behalf of a terrorist group; and
(b) information about a transaction or proposed transaction in respect of property referred to in paragraph (a).
(2) No criminal or civil proceedings lie against a person for disclosure made in good faith under subsection (1).
- 2001, c. 41, s. 4;
- 2013, c. 9, s. 4.
83.11 (1) The following entities must determine on a continuing basis whether they are in possession or control of property owned or controlled by or on behalf of a listed entity:
(a) authorized foreign banks within the meaning of section 2 of the Bank Act in respect of their business in Canada, or banks to which that Act applies;
(b) cooperative credit societies, savings and credit unions and caisses populaires regulated by a provincial Act and associations regulated by the Cooperative Credit Associations Act;
(c) foreign companies within the meaning of subsection 2(1) of the Insurance Companies Act in respect of their insurance business in Canada;
(c.1) companies, provincial companies and societies within the meaning of subsection 2(1) of the Insurance Companies Act;
(c.2) fraternal benefit societies regulated by a provincial Act in respect of their insurance activities, and insurance companies and other entities engaged in the business of insuring risks that are regulated by a provincial Act;
(d) companies to which the Trust and Loan Companies Act applies;
(e) trust companies regulated by a provincial Act;
(f) loan companies regulated by a provincial Act; and
(g) entities authorized under provincial legislation to engage in the business of dealing in securities, or to provide portfolio management or investment counselling services.
Marginal note:Monthly report
(2) Subject to the regulations, every entity referred to in paragraphs (1)(a) to (g) must report, within the period specified by regulation or, if no period is specified, monthly, to the principal agency or body that supervises or regulates it under federal or provincial law either
(a) that it is not in possession or control of any property referred to in subsection (1), or
(b) that it is in possession or control of such property, in which case it must also report the number of persons, contracts or accounts involved and the total value of the property.
(3) No criminal or civil proceedings lie against a person for making a report in good faith under subsection (2).
(4) The Governor in Council may make regulations
(a) excluding any entity or class of entities from the requirement to make a report referred to in subsection (2), and specifying the conditions of exclusion; and
(b) specifying a period for the purposes of subsection (2).
- 2001, c. 41, s. 4.
- Date modified: