Fall Economic Statement Implementation Act, 2023 (S.C. 2024, c. 15)

• 286 (1) Paragraph 40(b) of the Act is replaced by the following:

  • (b) collects, analyses, assesses and discloses information in order to assist in the detection, prevention and deterrence of money laundering, of the financing of terrorist activities and of sanctions evasion, and in order to assist the Minister in carrying out the Minister’s powers and duties under Part 1.1;

• (2) Paragraph 40(d) of the Act is replaced by the following:

  • (d) operates to enhance public awareness and understanding of matters related to money laundering, the financing of terrorist activities and sanctions evasion; and

• 287 (1) Paragraph 54(1)(a) of the Act is replaced by the following:

  • (a) shall receive reports made under section 7, 7.1, 9, 12 or 20, or in accordance with a directive issued under Part 1.1, incomplete reports sent under subsection 14(5), reports referred to in section 9.1, information provided to the Centre by any agency of another country that has powers and duties similar to those of the Centre, information provided to the Centre by law enforcement agencies or government institutions or agencies, and other information voluntarily provided to the Centre about suspicions of money laundering, of the financing of terrorist activities or of sanctions evasion;

• (2) The portion of paragraph 54(1)(b) of the Act before subparagraph (i) is replaced by the following:

  • (b) may collect information that the Centre considers relevant to money laundering activities, the financing of terrorist activities and activities relating to sanctions evasion that

• (3) Subsection 54(2) of the Act is replaced by the following:

  • Marginal note:Destruction of certain information

    (2) The Centre shall destroy any information contained in a document, whether in written form or in any other form, that it receives that purports to be a report made under section 7, 7.1, 9 or 12, made in accordance with a directive issued under Part 1.1, sent under subsection 14(5) or referred to in section 9.1, and that it determines, in the normal course of its activities, relates to a financial transaction or circumstance that is not required to be reported to the Centre under this Act, and shall destroy any information voluntarily provided to the Centre by the public that it determines, in the normal course of its activities, is not about suspicions of money laundering, of the financing of terrorist activities or of sanctions evasion. The Centre shall destroy the information within a reasonable time after the determination is made.

• 288 (1) Paragraph 55(1)(d) of the Act is replaced by the following:

  • (d) information voluntarily provided to the Centre about suspicions of money laundering, of the financing of terrorist activities or of sanctions evasion;

• (2) The portion of subsection 55(3) of the Act before paragraph (a) is replaced by the following:

  • Marginal note:Disclosure of designated information

    (3) If the Centre, on the basis of its analysis and assessment under paragraph 54(1)(c), has reasonable grounds to suspect that designated information would be relevant to investigating or prosecuting a money laundering offence, a terrorist activity financing offence or a sanctions evasion offence, the Centre shall disclose the information to

• (3) Clause 55(3)(c)(iii)(C) of the French version of the Act is replaced by the following:

  • (C) a mis ou mettra, directement ou indirectement, des ressources à la disposition d’une entité, au sens de ce paragraphe 83.01(1), qui se livre ou se livrera à des activités terroristes au sens de ce paragraphe ou à des activités visant à les appuyer;

• (4) Subsection 55(3) of the Act is amended by striking out “and” at the end of paragraph (h) and by adding the following after paragraph (i):

  • (j) the Department of the Environment, if the Centre also has reasonable grounds to suspect that the information would be relevant to investigating or prosecuting an offence under an Act administered by the Minister of the Environment or an attempt to commit such an offence; and

  • (k) the Department of Fisheries and Oceans, if the Centre also has reasonable grounds to suspect that the information would be relevant to investigating or prosecuting an offence under an Act an Act administered by the Minister of Fisheries and Oceans or an attempt to commit such an offence.

• (5) Subsection 55(6.1) of the Act is replaced by the following:

  • Marginal note:Publication

    (6.1) After a person has been determined by a court to be guilty of a money laundering offence, a terrorist activity financing offence or a sanctions evasion offence, or has been determined by a foreign court to be guilty of an offence that is substantially similar to any of those offences, whether on acceptance of a plea of guilty or on a finding of guilt, the Centre may, if it has disclosed designated information under subsection (3) with respect to the investigation or prosecution of the offence, make public the fact that it made such a disclosure.

• (6) The portion of subsection 55(7) of the Act before paragraph (a.1) is replaced by the following:

  • Marginal note:Definition of designated information

    (7) For the purposes of subsection (3), designated information means, in respect of a report made under section 7.1 or of a financial transaction, an attempted financial transaction or an importation or exportation of currency or monetary instruments, as the case may be,

    • (a) the name of any person or entity that is identified in the report or that is involved in the transaction, attempted transaction, importation or exportation or of any person or entity acting on their behalf;

• (7) Paragraph 55(7)(n) of the Act is replaced by the following:

  • (n) indicators of a money laundering offence, a terrorist activity financing offence or a sanctions evasion offence related to the transaction, attempted transaction, importation or exportation;

• (8) Paragraph 55(7)(q) of the Act is replaced by the following:

  • (q) information about the transaction, attempted transaction, importation or exportation, received by the Centre from an institution or agency under an agreement or arrangement referred to in section 56, that constitutes the institution’s or agency’s reasonable grounds to suspect that the information would be relevant to investigating or prosecuting a money laundering offence, a terrorist activity financing offence or a sanctions evasion offence, or an offence that is substantially similar to any of those offences;

• (9) Subsection 55(7) of the Act is amended by striking out “and” at the end of paragraph (s), by adding “and” at the end of paragraph (t) and by adding the following after paragraph (t):

  • (u) any other information set out in a report made under section 7.1.

• 289 (1) The portion of subsection 55.1(3) of the Act before paragraph (a.1) is replaced by the following:

  • Marginal note:Definition of designated information

    (3) For the purposes of subsection (1), designated information means, in respect of a report made under section 7.1, a financial transaction, an attempted financial transaction or an importation or exportation of currency or monetary instruments, as the case may be,

    • (a) the name of any person or entity that is identified in the report or that is involved in the transaction, attempted transaction, importation or exportation or of any person or entity acting on their behalf;

• (2) Paragraph 55.1(3)(n) of the Act is replaced by the following:

  • (n) indicators of a money laundering offence, a terrorist activity financing offence, a sanctions evasion offence or a threat to the security of Canada related to the transaction, attempted transaction, importation or exportation;

• (3) Paragraph 55.1(3)(q) of the Act is replaced by the following:

  • (q) information about the transaction, attempted transaction, importation or exportation, received by the Centre from an institution or agency under an agreement or arrangement referred to in section 56, that constitutes the institution’s or agency’s reasonable grounds to suspect that the information would be relevant to investigating or prosecuting a money laundering offence, a terrorist activity financing offence or a sanctions evasion offence, or an offence that is substantially similar to any of those offences;

• (4) Subsection 55.1(3) of the Act is amended by striking out “and” at the end of paragraph (s), by adding “and” at the end of paragraph (t) and by adding the following after paragraph (t):

  • (u) any other information set out in a report made under section 7.1.

• 290 (1) Subsections 56(1) and (2) of the Act are replaced by the following:

  Marginal note:Agreements and arrangements

  • 56 (1) The Minister may enter into an agreement or arrangement, in writing, with the government of a foreign state or an international organization regarding the exchange, between the Centre and any institution or agency of that state or organization that has powers and duties similar to those of the Centre, of information that the Centre, institution or agency has reasonable grounds to suspect would be relevant to investigating or prosecuting a money laundering offence, a terrorist activity financing offence or a sanctions evasion offence, or an offence that is substantially similar to any of those offences.

  • Marginal note:Agreements and arrangements — Centre

    (2) The Centre may, with the approval of the Minister, enter into an agreement or arrangement, in writing, with an institution or agency of a foreign state that has powers and duties similar to those of the Centre, regarding the exchange, between the Centre and the institution or agency, of information that the Centre, institution or agency has reasonable grounds to suspect would be relevant to investigating or prosecuting a money laundering offence, a terrorist activity financing offence or a sanctions evasion offence, or an offence that is substantially similar to any of those offences.

• (2) Paragraph 56(3)(a) of the Act is replaced by the following:

  • (a) restrict the use of information to purposes relevant to investigating or prosecuting a money laundering offence, a terrorist activity financing offence or a sanctions evasion offence, or an offence that is substantially similar to any of those offences; and

• 291 (1) Paragraph 56.1(1)(a) of the Act is replaced by the following:

  • (a) the Centre has reasonable grounds to suspect that the information would be relevant to the investigation or prosecution of a money laundering offence, a terrorist activity financing offence or a sanctions evasion offence, or an offence that is substantially similar to any of those offences; and

• (2) Paragraph 56.1(2)(a) of the Act is replaced by the following:

  • (a) the Centre has reasonable grounds to suspect that the information would be relevant to the investigation or prosecution of a money laundering offence, a terrorist activity financing offence or a sanctions evasion offence, or an offence that is substantially similar to any of those offences; and

• (3) Subsection 56.1(4.1) of the Act is replaced by the following:

  • Marginal note:Publication

    (4.1) After a person has been determined by a court to be guilty of a money laundering offence, a terrorist activity financing offence or a sanctions evasion offence, or has been determined by a foreign court to be guilty of an offence that is substantially similar to any of those offences, whether on acceptance of a plea of guilty or on a finding of guilt, the Centre may, if it has disclosed designated information under subsection (1) or (2) with respect to the investigation or prosecution of the offence, make public the fact that it made such a disclosure.

• (4) The portion of subsection 56.1(5) of the Act before paragraph (a.1) is replaced by the following:

  • Marginal note:Definition of designated information

    (5) For the purposes of this section, designated information means, in respect of a report made under section 7.1 or of a financial transaction, an attempted financial transaction or an importation or exportation of currency or monetary instruments, as the case may be

    • (a) the name of any person or entity that is identified in the report or that is involved in the transaction, attempted transaction, importation or exportation or of any person or entity acting on their behalf;

• (5) Paragraph 56.1(5)(n) of the Act is replaced by the following:

  • (n) indicators of a money laundering offence, a terrorist activity financing offence or a sanctions evasion offence related to the transaction, attempted transaction, importation or exportation;

• (6) Subsection 56.1(5) of the Act is amended by striking out “and” at the end of paragraph (r), by adding “and” at the end of paragraph (s) and by adding the following after paragraph (s):

  • (t) any other information set out in a report made under section 7.1.

• 292 (1) Paragraph 58(1)(b) of the Act is replaced by the following:

  • (b) conduct research into trends and developments in the area of money laundering, the financing of terrorist activities, sanctions evasion and the financing of threats to the security of Canada and into improved ways of detecting, preventing and deterring money laundering, the financing of terrorist activities, sanctions evasion and the financing of threats to the security of Canada; and

• (2) The portion of paragraph 58(1)(c) of the Act before subparagraph (i) is replaced by the following:

  • (c) undertake measures to inform the public, persons and entities referred to in section 5, authorities engaged in the investigation and prosecution of money laundering offences, terrorist activity financing offences and sanctions evasion offences, and others, with respect to

• (3) Paragraph 58(1)(c) of the Act is amended by striking out “and” at the end of subparagraph (ii.2) and by adding the following after that subparagraph:

  • (ii.3) the nature and extent of sanctions evasion inside and outside Canada, and

• (4) Subsection 58(2) of the Act is replaced by the following:

  • Marginal note:Limitation

    (2) The Centre shall not disclose under subsection (1) any information that would directly or indirectly identify any of the following persons or entities:

    • (a) a person who provided a report or information to the Centre;

    • (b) a Canadian citizen or a permanent resident as defined in subsection 2(1) of the Immigration and Refugee Protection Act about whom a report or information was provided;

    • (c) a person in Canada or an entity that has a place of business in Canada about whom a report or information was provided.

293 Subsection 59(1) of the Act is replaced by the following: