Proceeds of Crime (Money Laundering) and Terrorist Financing Registration Regulations (SOR/2007-121)
Full Document:
- HTMLFull Document: Proceeds of Crime (Money Laundering) and Terrorist Financing Registration Regulations |
- XMLFull Document: Proceeds of Crime (Money Laundering) and Terrorist Financing Registration Regulations [22 KB] |
- PDFFull Document: Proceeds of Crime (Money Laundering) and Terrorist Financing Registration Regulations [171 KB]
Regulations are current to 2012-05-14 and last amended on 2008-06-23. Previous Versions
Proceeds of Crime (Money Laundering) and Terrorist Financing Registration Regulations
SOR/2007-121
PROCEEDS OF CRIME (MONEY LAUNDERING) AND TERRORIST FINANCING ACT
Registration 2007-06-07
Proceeds of Crime (Money Laundering) and Terrorist Financing Registration Regulations
P.C. 2007-918 2007-06-07
Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsection 73(1)Footnote a of the Proceeds of Crime (Money Laundering) and Terrorist Financing ActFootnote b, hereby makes the annexed Proceeds of Crime (Money Laundering) and Terrorist Financing Registration Regulations.
Return to footnote aS.C. 2006, c. 12, s. 39
Return to footnote bS.C. 2000, c. 17; S.C. 2001, c. 41, s. 48
INTERPRETATION
1. The following definitions apply in these Regulations.
- “Act”
“Act” means the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. (Loi)
- “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)
2. For the purpose of subsection 54.1(3) of the Act, “identifying information” means the information set out in Part A and items 1 to 5 of Part C of Schedule 1, the date of revocation or expiration of the registration of a person or entity, if any, and the date of cessation of activity by a registered person or entity, if any.
- SOR/2008-21, s. 20;
- SOR/2008-195, s. 7.
PRESCRIBED ENTITIES NOT ELIGIBLE FOR REGISTRATION
3. (1) An entity that is a corporation is not eligible for registration with the Centre if the chief executive officer, the president or any director of that entity or any person or entity that owns or controls, directly or indirectly, 20 per cent or more of the shares of that entity is a person or entity referred to in any of paragraphs 11.11(1)(a) to (d) of the Act.
(2) An entity that is not a corporation is not eligible for registration with the Centre if the chief executive officer, the president or any director of that entity or any person or entity that owns or controls, directly or indirectly, 20 per cent or more of that entity is a person or entity referred to in any of paragraphs 11.11(1)(a) to (d) of the Act.
APPLICATIONS, NOTIFICATIONS, CLARIFICATIONS AND SUPPLEMENTARY INFORMATION
4. The following information and documents must be submitted to the Centre by an applicant or a registered person or entity, as the case may be, in electronic form if they have the technical capability to do so and in paper form if they do not:
(a) an application for registration referred to in section 11.12 of the Act;
(b) a notification, for the purpose of section 11.13 of the Act, of a change to the information provided in an application referred to in paragraph (a) or (e);
(c) a notification, for the purpose of section 11.13 of the Act, of newly obtained information;
(d) a clarification requested by the Centre under section 11.14 or 11.17 of the Act;
(e) an application to renew registration for the purpose of section 11.19 of the Act; and
(f) a notification of the cessation of an activity for the purpose of section 11.2 of the Act.
5. An application referred to in paragraph 4(a) or (e), a notification referred to in paragraph 4(b) or (c) and a clarification referred to in paragraph 4(d) must contain the applicable information set out in Schedule 1.