Proceeds of Crime (Money Laundering) and Terrorist Financing Act (S.C. 2000, c. 17)

Act current to 2017-09-14 and last amended on 2017-06-22. Previous Versions

Marginal note:Review of Act by parliamentary committee
  •  (1) Every five years beginning on the day on which this section comes into force, the administration and operation of this Act shall be reviewed by the committee of the House of Commons, of the Senate or of both Houses that is designated or established for that purpose.

  • Marginal note:Review by Privacy Commissioner

    (2) Every two years beginning on the day on which this section comes into force, the Privacy Commissioner, appointed under section 53 of the Privacy Act, shall review the measures taken by the Centre to protect information it receives or collects under this Act and shall, within three months after the review, submit a report on those measures to the Speaker of the Senate and the Speaker of the House of Commons, who shall each table the report in the House over which he or she presides without delay after receiving it or, if that House is not then sitting, on any of the first 15 days on which that House is sitting after the Speaker receives it.

  • 2000, c. 17, s. 72;
  • 2006, c. 12, s. 38.

PART 4Regulations

Marginal note:Regulations
  •  (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) respecting dealing in virtual currencies;

    • (b) respecting the keeping of records referred to in section 6;

    • (c) respecting the verification of the identity of persons and entities referred to in section 6.1;

    • (d) respecting the reports to the Centre referred to in section 7 and subsections 7.1(1) and 9(1);

    • (e) respecting the determination of whether a person is a person described in any of paragraphs 9.3(1)(a) to (c);

    • (e.1) and (e.2) [Repealed, 2017, c. 20, s. 434]

    • (f) respecting the measures referred to in subsections 9.3(2) and (2.1);

    • (g) respecting the measures referred to in subsection 9.4(1);

    • (h) respecting the program referred to in subsection 9.6(1);

    • (i) respecting the special measures referred to in subsection 9.6(3);

    • (j) respecting the registration referred to in sections 11.1 to 11.2;

    • (k) respecting the reports referred to in subsection 12(1); and

    • (l) prescribing anything that by this Act is to be prescribed.

    • (l.1) to (y) [Repealed, 2017, c. 20, s. 434]

    • (y.1) and (y.2) [Repealed, 2014, c. 20, s. 294]

    • (z) and (z.1) [Repealed, 2017, c. 20, s. 434]

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

  • 2000, c. 17, s. 73;
  • 2001, c. 41, s. 73;
  • 2006, c. 12, s. 39;
  • 2010, c. 12, s. 1877;
  • 2014, c. 20, s. 294;
  • 2017, c. 20, s. 434.

PART 4.1Notices of Violation, Compliance Agreements and Penalties

Violations

Marginal note:Regulations
  •  (1) The Governor in Council may make regulations

    • (a) designating, as a violation that may be proceeded with under this Part, the contravention of a specified provision of this Act or the regulations;

    • (b) classifying each violation as a minor violation, a serious violation or a very serious violation, and classifying a series of minor violations as a serious violation or a very serious violation;

    • (c) having regard to subsection (2), fixing a penalty, or a range of penalties, in respect of any violation;

    • (d) prescribing the additional penalty to be paid for the purposes of subsection 73.18(1);

    • (e) respecting the service of documents under this Part, including the manner and proof of service and the circumstances under which documents are deemed to be served; and

    • (f) generally for carrying out the purposes and provisions of this Part.

  • Marginal note:Maximum penalties

    (2) The maximum penalty for a violation is $100,000 if the violation is committed by a person and $500,000 if the violation is committed by an entity.

  • 2006, c. 12, s. 40.
Marginal note:Criteria for penalty

 Except if a penalty is fixed under paragraph 73.1(1)(c), the amount of a penalty shall, in each case, be determined taking into account that penalties have as their purpose to encourage compliance with this Act rather than to punish, the harm done by the violation and any other criteria that may be prescribed by regulation.

  • 2006, c. 12, s. 40.
Marginal note:How contravention may be proceeded with

 If a contravention that is designated under paragraph 73.1(1)(a) can be proceeded with either as a violation or as an offence under this Act, proceeding in one manner precludes proceeding in the other.

  • 2006, c. 12, s. 40.
Marginal note:Commission of violation
  •  (1) Every contravention that is designated under paragraph 73.1(1)(a) constitutes a violation and the person who commits the violation is liable to a penalty determined in accordance with sections 73.1 and 73.11.

  • Marginal note:Notice of violation or compliance agreement

    (2) If the Centre believes on reasonable grounds that a person or entity has committed a violation, the Centre may

    • (a) issue and cause to be served on the person or entity a notice of violation; or

    • (b) issue and cause to be served on the person or entity a notice of violation with an offer to reduce by half the penalty proposed in the notice if the person or entity enters into a compliance agreement with the Centre in respect of the provision to which the violation relates.

  • 2006, c. 12, s. 40.

Notices of Violation

Marginal note:Contents of notice
  •  (1) When the Centre issues a notice of violation under subsection 73.13(2), the notice shall name the person or entity believed to have committed a violation, identify the violation and set out

    • (a) the penalty that the Centre proposes to impose;

    • (b) the right of the person or entity, within 30 days after the day on which the notice is served or within any longer period that the Centre specifies, to pay the penalty or to make representations to the Director with respect to the violation and the proposed penalty, and the manner for doing so; and

    • (c) the fact that, if the person or entity does not pay the penalty or make representations in accordance with the notice, the person or entity will be deemed to have committed the violation and the Centre will impose the penalty in respect of it.

  • Marginal note:Administrative corrections

    (2) If a notice of violation contains any error or omission, the Centre may serve a corrected notice of violation on the person or entity at any time during the period referred to in paragraph (1)(b).

  • 2006, c. 12, s. 40.
Marginal note:Payment of penalty
  •  (1) If the person or entity pays the penalty proposed in the notice of violation, the person is deemed to have committed the violation and proceedings in respect of it are ended.

  • Marginal note:Representations to Director

    (2) If the person or entity makes representations in accordance with the notice, the Director shall decide, on a balance of probabilities, whether the person or entity committed the violation and, if so, may, subject to any regulations made under paragraph 73.1(1)(c), impose the penalty proposed, a lesser penalty or no penalty.

  • Marginal note:Failure to pay or make representations

    (3) A person or entity that neither pays the penalty nor makes representations in accordance with the notice is deemed to have committed the violation and the Centre shall impose the penalty proposed in the notice.

  • Marginal note:Notice of decision and right of appeal

    (4) The Director shall cause notice of any decision made under subsection (2) or the penalty imposed under subsection (3) to be issued and served on the person or entity together with, in the case of a decision made under subsection (2) in respect of a serious violation or very serious violation, notice of the right of appeal under subsection 73.21(1).

  • 2006, c. 12, s. 40;
  • 2017, c. 20, s. 435(F).
 
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