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

Act current to 2014-03-16 and last amended on 2013-12-12. Previous Versions

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.

Compliance Agreements

Marginal note:Contents of compliance agreement
  •  (1) When the Centre offers to enter into a compliance agreement under paragraph 73.13(2)(b), the agreement shall

    • (a) identify the violation and provide that the person or entity will comply with the provision to which the violation relates within the period, and be subject to the terms and conditions, specified in the agreement; and

    • (b) set out the amount that the person or entity will have to pay as the reduced penalty for the violation if the compliance agreement is entered into.

  • Marginal note:Refusal to enter into agreement

    (2) The person or entity shall enter into the compliance agreement and pay the reduced penalty within 10 days after receiving the notice of violation and, if it does not do so, the person or entity is deemed to have refused to enter into the agreement, and the full penalty proposed in the notice of violation and section 73.15 apply.

  • Marginal note:Extension of period

    (3) The Centre may extend the period referred to in paragraph (1)(a) if the Centre is satisfied that the person or entity with which the compliance agreement was entered into is unable to comply with it within that period for reasons beyond their control.

  • 2006, c. 12, s. 40.