FINANCIAL TRANSACTIONS AND REPORTS ANALYSIS CENTRE OF CANADA
40. The object of this Part is to establish an independent agency that
(a) acts at arm’s length from law enforcement agencies and other entities to which it is authorized to disclose information;
(b) collects, analyses, assesses and discloses information in order to assist in the detection, prevention and deterrence of money laundering and of the financing of terrorist activities;
(c) ensures that personal information under its control is protected from unauthorized disclosure;
(d) operates to enhance public awareness and understanding of matters related to money laundering; and
(e) ensures compliance with Part 1.
- 2000, c. 17, s. 40;
- 2001, c. 41, s. 65.
Establishment of the Centre
Marginal note:Centre established
41. (1) There is hereby established the Financial Transactions and Reports Analysis Centre of Canada.
Marginal note:Powers of Centre
(2) The Centre may exercise powers only as an agent of Her Majesty in right of Canada.
Marginal note:Minister is responsible
42. (1) The Minister is responsible for the Centre.
Marginal note:Minister may direct
(2) The Minister may direct the Centre on any matter that, in the Minister’s opinion, materially affects public policy or the strategic direction of the Centre.
Marginal note:Statutory instruments
(3) A direction under subsection (2) is not a statutory instrument for the purposes of the Statutory Instruments Act.
(4) The Minister may from time to time engage the services of any person to advise and report to the Minister on any matter referred to in subsection (2).
Organization and Head Office
Marginal note:Appointment of Director
43. (1) The Governor in Council shall appoint a Director to hold office during pleasure for a term of not more than five years.
(2) Subject to subsection (3), the Director is eligible to be reappointed on the expiry of a first or subsequent term of office.
(3) No person shall hold office as Director for terms of more than ten years in the aggregate.
Marginal note:Absence or incapacity
(4) In the event of the absence or incapacity of the Director, or if the office of Director is vacant, the Governor in Council may appoint a qualified person to hold office instead of the Director for a term of not more than six months, and the person shall, while holding that office, have all of the powers, duties and functions of the Director under this Part.
Marginal note:Delegation by Director
(5) The Director may delegate to any person, subject to any terms and conditions that the Director may specify, any power, duty or function conferred on the Director under this Act.
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