Duty to Determine
9 The following entities must determine on a continuing basis whether they are in possession or control of property that is owned, held or controlled by or on behalf of a listed person:
(e) fraternal benefit societies regulated by a provincial Act in respect of their insurance activities and insurance companies and other entities engaged in the business of insuring risks that are regulated by a provincial Act;
(g) trust companies regulated by a provincial Act;
(h) loan companies regulated by a provincial Act;
(i) entities that engage in any activity described in paragraph 5(h) of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, if the activity involves the opening of an account for a client; and
(j) entities authorized under provincial legislation to engage in the business of dealing in securities, or to provide portfolio management or investment counselling services.
- SOR/2016-15, s. 7.
10 (1) Every person in Canada and every Canadian outside Canada must disclose without delay to the Commissioner of the Royal Canadian Mounted Police or to the Director of the Canadian Security Intelligence Service
- SOR/2016-15, s. 8.
Application to No Longer Be a Listed Person
(2) On receipt of an application, the Minister must decide whether there are reasonable grounds to recommend to the Governor in Council that the applicant’s name be removed from the schedule.
(3) The Minister must make a decision on the application within 90 days after the day on which the application is received.
(4) The Minister must give notice without delay to the applicant of the decision taken.
(5) If there has been a material change in circumstances since the last application was submitted, a person may submit another application under subsection (1).
- SOR/2016-15, s. 10.
Application for a Certificate
12 (1) A person whose name is the same as or similar to the name of a listed person and that claims not to be that listed person may apply to the Minister in writing for a certificate stating that they are not that listed person.
(2) If it is established that the person is not a listed person, the Minister must issue a certificate to the applicant within 30 days after receiving the application.
- SOR/2016-15, s. 11.
13 [Repealed, SOR/2011-268, s. 7]
14 [Repealed, SOR/2011-268, s. 7]
Application Before Publication
Coming into Force
16 These Regulations come into force on the day on which they are registered.
- Date modified: