Subject to section 10, a report made by an exporter with respect to the importation of currency or monetary instruments by mail shall be made by

  • (a) including inside the mail item an importation report with respect to the currency or monetary instruments; and

  • (b) affixing the customs declaration form required by the Universal Postal Convention, as amended from time to time, to the outside of the mail item and indicating that it contains currency or monetary instruments.

 A report made with respect to the importation of currency or monetary instruments that have been retained under section 14 of the Act shall be submitted by the person or entity to whom the notice was given at the customs office indicated on the notice.

 A report with respect to the importation of currency or monetary instruments, other than one referred to in sections 4 to 6, shall be submitted without delay at the customs office that is open for business at the time of the importation and that is nearest to the place of importation.

 In an emergency, the person in charge of a conveyance who must unload currency or monetary instruments from the conveyance before being able to make or submit an importation report in accordance with these Regulations may submit the importation report by telephone or other expedient means and, as soon as possible after that, shall make or submit a report in accordance with these Regulations.

Exceptions to Importation Reporting

  •  (1) Subject to subsections (2) and (3), currency or monetary instruments transported by a person arriving in Canada on board a commercial passenger conveyance who has as their destination a place outside Canada are not required to be reported under subsection 12(1) of the Act, on condition that

    • (a) the person does not disembark from the conveyance in Canada and the currency or monetary instruments are not removed from the conveyance in Canada other than to be transferred under customs control directly to a commercial passenger conveyance for departure to the place outside Canada or directly to a holding area designated as such for the purposes of the Presentation of Persons (Customs) Regulations; and

    • (b) if the person and currency or monetary instruments are transferred under customs control directly to a designated holding area, the person does not leave and the currency or monetary instruments are not removed from that area other than to board or be loaded on board a commercial passenger conveyance for departure to the place outside Canada.

  • (2) Subject to subsection (3), currency or monetary instruments that are transported by courier into Canada on board a conveyance and that have as their destination a place outside Canada are not required to be reported under subsection 12(1) of the Act, on condition that

    • (a) the currency or monetary instruments are not removed from the conveyance at the place of arrival, other than to be transferred under customs control directly to a holding area designated as such for the purposes of the Presentation of Persons (Customs) Regulations; and

    • (b) if the currency or monetary instruments are transferred under customs control directly to a designated holding area, they are not removed from that area, other than to be loaded on board a conveyance for departure to the place outside of Canada.

  • (3) Currency or monetary instruments that are transported into Canada on board a cruise ship or cargo ship and that have as their destination a place outside Canada are not required to be reported under subsection 12(1) of the Act, on condition that the currency or monetary instruments are not removed from the cruise ship or cargo ship while it is in Canada.

  • SOR/2003-358, s. 26.

 A person or entity is not required to make a report under subsection 12(1) of the Act with respect to the importation of currency or monetary instruments that are mailed from a location outside Canada to a destination outside Canada but that transit through Canada in the course of post, on condition that they will not leave the course of post until after they have left Canada.

Exportation Reporting

 A report with respect to currency or monetary instruments transported by a person departing from Canada shall be submitted without delay by the person at the customs office located at the place of exportation or, if it is not open for business at the time of exportation, at the nearest customs office that is open for business at that time.

 A report required to be made by an exporter with respect to the exportation by mail of currency or monetary instruments shall be made by

  • (a) including an exportation report inside the mail item; and

  • (b) mailing or submitting, at or before the time when the currency or monetary instruments are mailed, a copy of the exportation report to the customs office that is located nearest to the point at which the item was mailed.

 A report made with respect to the exportation of currency or monetary instruments that have been retained under section 14 of the Act shall be submitted by the person or entity to whom the notice was given at the customs office indicated on the notice.

 A report with respect to the exportation of currency or monetary instruments, other than one referred to in sections 11 to 13, shall be submitted without delay at the customs office that is open for business at the time of exportation and that is nearest to the place of exportation.

Exception Applicable to the Bank of Canada

 A person or entity is not required to make a report under subsection 12(1) of the Act with respect to the importation or exportation of currency by or on behalf of the Bank of Canada for the purposes of the distribution, processing, or testing of banknotes intended for circulation in Canada.

Exemption Applicable to Imported Shares

 A person or entity is not required to make a report under subsection 12(1) of the Act with respect to stocks, bonds and debentures imported into Canada by courier or as mail if the importer is a financial entity or a securities dealer as defined in subsection 1(2) of the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations or a transfer agent.

  • SOR/2003-358, s. 27.

Retention

  •  (1) For the purposes of subsection 14(1) of the Act, an officer shall give the person or entity written notice in person or, if the person is not present, shall send the notice by registered mail to the person’s latest known address.

  • (2) For the purposes of subsection 14(2) of the Act, the notice is to be given within 60 days after the day on which the currency or monetary instruments are imported or exported, as the case may be.

 The prescribed retention period, for the purposes of subsection 14(1) of Act, is

  • (a) in the case of importation or exportation by courier or as mail, 30 days after the day on which the retention notice is given or sent; and

  • (b) in any other case, seven days after the day on which the retention notice is given or sent.

Penalties

 For the purposes of subsection 18(2) of the Act, the prescribed amount of the penalty is

  • (a) $250, in the case of a person or entity who

    • (i) has not concealed the currency or monetary instruments,

    • (ii) has made a full disclosure of the facts concerning the currency or monetary instruments on their discovery, and

    • (iii) has no previous seizures under the Act;

  • (b) $2,500, in the case of a person or entity who

    • (i) has concealed the currency or monetary instruments, other than by means of using a false compartment in a conveyance, or who has made a false statement with respect to the currency or monetary instruments, or

    • (ii) has a previous seizure under the Act, other than in respect of any type of concealment or for making false statements with respect to the currency or monetary instruments; and

  • (c) $5,000, in the case of a person or entity who

    • (i) has concealed the currency or monetary instruments by using a false compartment in a conveyance, or

    • (ii) has a previous seizure under the Act for any type of concealment or for making a false statement with respect to the currency or monetary instruments.

 [Amendments]

Coming into Force

 
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