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

Act current to 2017-11-06 and last amended on 2017-10-06. Previous Versions

Marginal note:Ineligible for registration
  •  (1) The following persons or entities are not eligible for registration with the Centre:

    • (a) a person or entity that is subject to sanctions associated with terrorist activity or a prohibition relating to financial services under the United Nations Act;

    • (b) a listed entity as defined in subsection 83.01(1) of the Criminal Code;

    • (b.1) a person or entity that is subject to a prohibition on financial or related services under the Special Economic Measures Act;

    • (c) a person or entity that has been convicted of any of the following:

      • (i) a money laundering offence, or an offence under the laws of a foreign state that is substantially similar to a money laundering offence,

      • (ii) a terrorist activity financing offence, or an offence under the laws of a foreign state that is substantially similar to a terrorist activity financing offence,

      • (iii) an offence under this Act or the Proceeds of Crime (money laundering) Act, chapter 26 of the Statutes of Canada, 1991 when convicted on indictment, or an offence under the laws of a foreign state that is substantially similar to an offence under either Act,

      • (iv) an offence under any of sections 83.18 to 83.231, 354 or 467.11 to 467.13 of the Criminal Code, or an offence under the laws of a foreign state that is substantially similar to such an offence, or

      • (v) a conspiracy or an attempt to commit, being an accessory after the fact in relation to, or any counselling in relation to, an offence referred to in subparagraphs (i) to (iv);

    • (d) a person or entity that has been convicted on indictment or convicted more than once of an offence under any of the following, or that has been convicted of an offence under the laws of a foreign state that is substantially similar to an offence under any of the following:

      • (i) Part X of the Criminal Code,

      • (ii) the Controlled Drugs and Substances Act, except for the offence under subsection 4(1) of that Act,

      • (iii) section 39, 44.2, 44.3, 48, 50.2 or 50.3 of the Food and Drugs Act, as that section read immediately before May 14, 1997, or

      • (iv) section 4, 5, 6, 19.1 or 19.2 of the Narcotic Control Act, chapter N-1 of the Revised Statutes of Canada, 1985, as that section read immediately before May 14, 1997;

    • (e) an entity that is a corporation in respect of which a director, the chief executive officer, the president or a person who owns or controls, directly or indirectly, 20% or more of the shares has been convicted on indictment of an offence under this Act or the Proceeds of Crime (money laundering) Act, chapter 26 of the Statutes of Canada, 1991 or has been convicted of an offence under the laws of a foreign state that is substantially similar to an offence under either Act;

    • (f) any prescribed person or entity.

  • Marginal note:Revocation of registration

    (2) If the Centre becomes aware that a person or entity referred to in subsection (1) is registered, the Centre shall revoke the registration and shall, without delay, inform the person or entity of the revocation.

  • 2006, c. 12, s. 11;
  • 2014, c. 20, s. 262;
  • 2017, c. 20, s. 420.
Marginal note:Application for registration
  •  (1) An application for registration shall be submitted to the Centre in the prescribed form and manner, shall include a list of the applicant’s agents or mandataries or branches that are engaged, on behalf of the applicant, in the activities referred to in paragraph 5(h), in issuing or selling money orders to, or redeeming them from, the public if the applicant is a person or entity referred to in paragraph 5(l), or in any prescribed activities, and shall include any prescribed information.

  • Marginal note:Agents, mandataries and branches

    (2) Any agent, mandatary or branch included on the list is not required to register with the Centre when they are acting in that capacity.

  • 2006, c. 12, s. 11;
  • 2017, c. 20, s. 421.
Marginal note:Changes to information

 An applicant or a person or entity registered with the Centre shall notify the Centre, in the prescribed form and manner, of any change to the information provided in the application or of any newly obtained information that should have been included in the application within 30 days after the day on which the applicant or the registered person or entity becomes aware of the change or obtains the new information.

  • 2006, c. 12, s. 11.
Marginal note:Clarifications — applicant
  •  (1) An applicant shall provide the Centre, in the prescribed form and manner, with any clarifications that the Centre may request in respect of the prescribed information and the list referred to in subsection 11.12(1) within 30 days after the day on which the request is made.

  • Marginal note:Denial of application

    (2) If the applicant does not provide the Centre with the clarifications within the 30 days, the Centre may deny the application and shall, without delay, inform the applicant of the denial.

  • 2006, c. 12, s. 11.
Marginal note:Notice of registration

 The applicant is registered with the Centre once the Centre adds the applicant to the registry referred to in subsection 54.1(1). The Centre shall, without delay, send the applicant notice of their registration.

  • 2006, c. 12, s. 11.
Marginal note:Denial of application

 The Centre shall deny the application of any person or entity referred to in subsection 11.11(1) and shall, without delay, inform the applicant of the denial.

  • 2006, c. 12, s. 11.
Marginal note:Clarifications — registrant
  •  (1) A registered person or entity shall provide the Centre, in the prescribed form and manner, with any clarifications that the Centre may request in respect of the prescribed information and the list referred to in subsection 11.12(1) within 30 days after the day on which the request is made.

  • Marginal note:Revocation of registration

    (2) If the registered person or entity does not provide the Centre with the clarifications within the 30 days, the Centre may revoke the registration and shall, without delay, inform the person or entity of the revocation.

  • 2006, c. 12, s. 11.
Marginal note:Written reasons

 Any decision to deny an application or revoke a registration must be in writing with reasons.

  • 2006, c. 12, s. 11.
Marginal note:Renewal of registration

 A registered person or entity shall renew their registration in the prescribed form and manner every two years or within any longer prescribed period.

  • 2006, c. 12, s. 11.
Marginal note:Cessation of activity

 When a registered person or entity ceases an activity for which they are registered, they shall notify the Centre in the prescribed form and manner within 30 days after the day on which they cease the activity.

  • 2006, c. 12, s. 11.

Review

Marginal note:Application for review by Director
  •  (1) Within 30 days after the day on which the person or entity receives a decision to deny their application or revoke their registration, the person or entity may apply in writing to the Director of the Centre for a review of the decision and may provide any information in support of their application for review.

  • Marginal note:Review by Director

    (2) The Director shall review the decision as soon as possible and shall take into consideration any information that the Director deems relevant.

  • Marginal note:Decision of Director

    (3) The Director may either confirm the decision or substitute his or her own decision, and shall, without delay, serve notice of the decision with reasons on the person or entity, together with notice of the right of appeal under subsection 11.4(1).

  • 2006, c. 12, s. 11.

Appeal to Federal Court

Marginal note:Appeal
  •  (1) A person or entity that applied for a review under subsection 11.3(1) may appeal the Director’s decision to the Federal Court within 30 days after the day on which the decision is served, or within any longer period that the Court allows.

  • Marginal note:Appeal

    (2) If the Director does not make a decision within 90 days after the day on which the Director received the application for review, the applicant may appeal to the Federal Court, within 30 days after the day on which the 90-day period expires, the decision to deny the application for registration or revoke the registration.

  • Marginal note:Precautions against disclosure

    (3) In an appeal, the Court shall take every reasonable precaution, including, when appropriate, conducting hearings in private, to avoid the disclosure by the Court or any person or entity of information referred to in subsection 55(1).

  • 2006, c. 12, s. 11.
 
Date modified: