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

Act current to 2014-04-02 and last amended on 2013-12-12. Previous Versions

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.