Proceeds of Crime (Money Laundering) and Terrorist Financing Suspicious Transaction Reporting Regulations

SOR/2001-317

PROCEEDS OF CRIME (MONEY LAUNDERING) AND TERRORIST FINANCING ACT

Registration 2001-08-28

Proceeds of Crime (Money Laundering) and Terrorist Financing Suspicious Transaction Reporting Regulations

P.C. 2001-1500  2001-08-28

Whereas, pursuant to subsection 73(2) of the Proceeds of Crime (Money Laundering) ActFootnote a, a copy of the proposed Proceeds of Crime (Money Laundering) Suspicious Transaction Reporting Regulations was published, substantially in the form set out in the annexed Regulations, as part of the Proceeds of Crime (Money Laundering) Regulations, 2000 in the Canada Gazette, Part I, on February 17, 2001 and a reasonable opportunity was thereby given to interested persons to make representations to the Minister of Finance with respect to the proposed Regulations;

Therefore, Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 73 of the Proceeds of Crime (Money Laundering) ActFootnote a, hereby makes the annexed Proceeds of Crime (Money Laundering) Suspicious Transaction Reporting Regulations.

INTERPRETATION

  •  (1) For the purposes of the Act and in these Regulations, “casino” means a person or entity that is licensed, registered, permitted or otherwise authorized to do business under any of paragraphs 207(1)(a) to (g) of the Criminal Code and that conducts its business activities in a permanent establishment

    • (a) that the person or entity holds out to be a casino and in which roulette or card games are carried on; or

    • (b) where there is a slot machine, which, for the purposes of this definition, does not include a video lottery terminal.

    It does not include a person or entity that is a registered charity as defined in subsection 248(1) of the Income Tax Act and is licensed, registered, permitted or otherwise authorized to carry on business temporarily for charitable purposes, if the business is carried out in the establishment of the casino for not more than two consecutive days at a time under the supervision of the casino.

  • (2) The definitions in this subsection apply in these Regulations.

    “accountant”

    “accountant” means a chartered accountant, a certified general accountant or a certified management accountant. (comptable)

    “accounting firm”

    “accounting firm” means an entity that is engaged in the business of providing accounting services to the public and has at least one partner, employee or administrator that is an accountant. (cabinet d’expertise comptable)

    “Act”

    “Act” means the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. (Loi)

    “British Columbia notary corporation”

    “British Columbia notary corporation” means an entity that carries on the business of providing notary services to the public in the province of British Columbia in accordance with the Notaries Act, R.S.B.C. 1996, c. 334. (société de notaires de la Colombie-Britannique)

    “British Columbia notary public”

    “British Columbia notary public” means a person who is a member of the Society of Notaries Public of British Columbia. (notaire public de la Colombie-Britannique)

    “cash”

    “cash” means coins referred to in section 7 of the Currency Act, notes issued by the Bank of Canada pursuant to the Bank of Canada Act that are intended for circulation in Canada and coins or bank notes of countries other than Canada. (espèces)

    “cash”

    “cash” or “currency” [Repealed, SOR/2002-185, s. 2]

    “CICA Handbook”

    “CICA Handbook” means the handbook prepared and published by the Canadian Institute of Chartered Accountants, as amended from time to time. (Manuel de l’ICCA)

    “credit union central”

    “credit union central” means a central cooperative credit society, as defined in section 2 of the Cooperative Credit Associations Act, or a credit union central or a federation of credit unions or caisses populaires that is regulated by a provincial Act other than one enacted by the legislature of Quebec. (centrale de caisses de crédit)

    “dealer in precious metals and stones”

    “dealer in precious metals and stones” means a person or an entity that, in the course of its business activities, buys or sells precious metals, precious stones or jewellery. It includes a department or agent of Her Majesty in right of Canada or of a province when the department or agent is carrying out the activity, referred to in section 5, of selling precious metals to the public. (négociant en métaux précieux et pierres précieuses)

    “electronic funds transfer”

    “electronic funds transfer” means the transmission — through any electronic, magnetic or optical device, telephone instrument or computer — of instructions for the transfer of funds, other than the transfer of funds within Canada. In the case of SWIFT messages, only SWIFT MT 103 messages are included. (télévirement)

    “financial entity”

    “financial entity” means an authorized foreign bank, as defined in section 2 of the Bank Act, in respect of its business in Canada or a bank to which that Act applies, a cooperative credit society, savings and credit union or caisse populaire that is regulated by a provincial Act, an association that is regulated by the Cooperative Credit Associations Act, a financial services cooperative, a credit union central, a company to which the Trust and Loan Companies Act applies and a trust company or loan company regulated by a provincial Act. It includes a department or agent of Her Majesty in right of Canada or of a province when the department or agent is carrying out an activity referred to in paragraph 8(a). (entité financière)

    “financial services cooperative”

    “financial services cooperative” means a financial services cooperative that is regulated by An Act respecting Financial services cooperatives, R.S.Q., c. C-67.3, or An Act Respecting the Mouvement Desjardins, S.Q. 2000, c. 77, other than a caisse populaire. (coopérative de services financiers)

    “funds”

    “funds” means cash, currency or securities, or negotiable instruments or other financial instruments, in any form, that indicate a person’s or an entity’s title or interest in them. (fonds)

    “jewellery”

    “jewellery” means objects that are made of gold, silver, palladium, platinum, pearls or precious stones and that are intended to be worn as a personal adornment. (bijou)

    “legal firm”

    “legal firm” [Repealed, SOR/2003-102, s. 1]

    “life insurance broker or agent”

    “life insurance broker or agent” means a person or entity that is registered or licensed under provincial legislation to carry on the business of arranging contracts of life insurance. (représentant d’assurance-vie)

    “listed person”

    “listed person” has the same meaning as in section 1 of the Regulations Implementing the United Nations Resolutions on the Suppression of Terrorism. (personne inscrite)

    “money services business”

    “money services business” means a person or entity referred to in paragraph 5(h) of the Act. (entreprise de transfert de fonds ou de vente de titres négociables)

    “precious metal”

    “precious metal” means gold, silver, palladium or platinum in the form of coins, bars, ingots or granules or in any other similar form. (métal précieux)

    “precious stones”

    “precious stones” means diamonds, sapphires, emeralds, tanzanite, rubies or alexandrite. (pierre précieuse)

    “real estate broker or sales representative”

    “real estate broker or sales representative” means a person or entity that is registered or licensed under provincial legislation in respect of the sale or purchase of real estate. (courtier ou agent immobilier)

    “real estate developer”

    “real estate developer” means, on any given day in a calendar year, a person or entity who, in that calendar year and before that day or in any previous calendar year after 2007, has sold to the public, other than in the capacity of a real estate broker or sales representative,

    • (a) five or more new houses or condominium units;

    • (b) one or more new commercial or industrial buildings; or

    • (c) one or more new multi-unit residential buildings each of which contains five or more residential units, or two or more new multi-unit residential buildings that together contain five or more residential units. (promoteur immobilier)

    “SWIFT”

    “SWIFT” means the Society for Worldwide Interbank Financial Telecommunication. (SWIFT)

    “trust company”

    “trust company” means a company to which the Trust and Loan Companies Act applies or a trust company regulated by a provincial Act. (société de fiducie)

  • SOR/2002-185, s. 2;
  • SOR/2003-102, s. 1;
  • SOR/2003-358, s. 1;
  • SOR/2007-122, s. 1;
  • SOR/2007-293, s. 1;
  • SOR/2008-21, s. 1;
  • SOR/2009-265, s. 1.