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

Act current to 2014-06-12 and last amended on 2013-12-12. Previous Versions

Marginal note:Foreign branches

 Every entity referred to in paragraphs 5(a) to (g), except for authorized foreign banks within the meaning of section 2 of the Bank Act and for authorized foreign companies within the meaning of section 2 of the Insurance Companies Act, shall ensure that their branches, that are located in a country that is not a member of the Financial Action Task Force and that carry out activities similar to those of persons and entities referred to in those paragraphs, develop and apply policies and procedures that are consistent with the requirements of sections 6, 6.1 and 9.6 when the laws of the country permit it.

  • 2006, c. 12, s. 8.
Marginal note:Immunity

 No criminal or civil proceedings lie against a person or an entity for making a report in good faith under section 7, 7.1 or 9, or for providing the Centre with information about suspicions of money laundering or of the financing of terrorist activities.

  • 2000, c. 17, s. 10;
  • 2001, c. 41, s. 53.
Marginal note:Non-application to legal counsel

 Sections 7 and 9 do not apply to persons or entities referred to in paragraph 5(i) or (j) who are, as the case may be, legal counsel or legal firms, when they are providing legal services.

  • 2006, c. 12, s. 9.
Marginal note:Solicitor-client privilege

 Nothing in this Act requires a legal counsel to disclose any communication that is subject to solicitor-client privilege.

  • 2000, c. 17, s. 11;
  • 2013, c. 40, s. 279.

Registration

Application and Revocation

Marginal note:Registration requirement

 Except as otherwise provided in the regulations, every person or entity referred to in paragraph 5(h), those referred to in paragraph 5(l) that sell money orders to the public, and every other person or entity that is referred to in section 5 and that is prescribed must be registered with the Centre in accordance with this section and sections 11.11 to 11.2.

  • 2006, c. 12, s. 10.
Marginal note:Ineligible for registration
  •  (1) The following persons or entities are not eligible for registration with the Centre:

    • (a) a listed person as defined in section 1 of the Regulations Implementing the United Nations Resolutions on the Suppression of Terrorism;

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

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

      • (i) a money laundering offence,

      • (ii) a terrorist activity financing offence,

      • (iii) an offence under this Act when convicted on indictment,

      • (iv) an offence under any of sections 83.18 to 83.231, 354 or 467.11 to 467.13 of the Criminal Code, 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 for an offence under Part X of the Criminal Code or under the Controlled Drugs and Substances Act except for the offence under subsection 4(1) of that Act;

    • (e) an entity that is a corporation in respect of which a director, the chief executive officer, the president or the person who owns or controls, directly or indirectly, 20 per cent or more of the shares has been convicted on indictment of an offence under this Act; or

    • (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.