Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations (SOR/2002-184)

39.1 Every dealer in precious metals and stones that engages in the purchase or sale of precious metals, precious stones or jewellery in an amount of $10,000 or more in a single transaction, other than such a purchase or sale that is carried out in the course of, in connection with or for the purpose of manufacturing jewellery, extracting precious metals or precious stones from a mine or cutting or polishing precious stones, is subject to Part 1 of the Act.

39.2 Subject to subsection 52(1), every dealer in precious metals and stones that is subject to Part 1 of the Act and that receives an amount in cash of $10,000 or more in the course of a single transaction shall report the transaction to the Centre, together with the information set out in Schedule 1, unless the cash is received from a financial entity or a public body.

39.3 Subject to subsection 52(2), every dealer in precious metals and stones that is subject to Part 1 of the Act shall keep a large cash transaction record in respect of every amount in cash of $10,000 or more that they receive in the course of a single transaction, unless the cash is received from a financial entity or a public body.

• 39.4 (1) For greater certainty, a transaction referred to in sections 39.2 and 39.3 includes the sale of precious metals, precious stones or jewellery that are left on consignment with a dealer in precious metals and stones.

• (2) For the purpose of subsection (1), goods left with an auctioneer for sale at auction are not considered to be left with the auctioneer on consignment.

• 39.5 (1) Every real estate developer is subject to Part 1 of the Act when

  • (a) in the case of a person or of an entity other than a corporation, they sell to the public a new house, a new condominium unit, a new commercial or industrial building or a new multi-unit residential building; and

  • (b) in the case of an entity that is a corporation, they sell to the public a new house, a new condominium unit, a new commercial or industrial building or a new multi-unit residential building on their own behalf or on behalf of a subsidiary or affiliate.

• (2) For the purpose of subsection (1), an entity is affiliated with another entity if one of them is wholly-owned by the other or both are wholly-owned by the same entity.

39.6 Subject to subsection 52(1), every real estate developer who, when engaging in an activity described in section 39.5, receives an amount in cash of $10,000 or more in the course of a single transaction shall report the transaction to the Centre, together with the information set out in Schedule 1, unless the cash is received from a financial entity or a public body.