Income Tax Act

Marginal note:Definitions

244.1 The following definitions apply in this Part.

cash

cash means coins referred to in section 7 of the Currency Act, notes issued by the Bank of Canada pursuant to the Bank of Canada Act that are intended for circulation in Canada or coins or bank notes of countries other than Canada. (espèces)

casino

casino means

• (a) the government of a province that, in accordance with paragraph 207(1)(a) of the Criminal Code,

  • (i) in a permanent establishment that is held out to be a casino, conducts and manages a lottery scheme that includes games of roulette or card games, or

  • (ii) in any other permanent establishment, conducts and manages games that are operated on or through a slot machine, as defined in subsection 207(4.01) of that Act, or any other similar electronic gaming device, if there are more than 50 of those machines or other devices in the establishment;

• (b) the government of a province that, in accordance with paragraph 207(1)(a) of the Criminal Code, conducts and manages a lottery scheme, other than bingo or the sale of lottery tickets, that is accessible to the public through the Internet or other digital network, except if the network is an internal network within an establishment referred to in subparagraph (a)(ii);

• (c) an organization that, in accordance with paragraph 207(1)(b) of the Criminal Code, in a permanent establishment that is held out to be a casino, conducts and manages a lottery scheme that includes games of roulette or card games, unless the organization is a registered charity and the lottery scheme is conducted or managed for a period of not more than two consecutive days at a time; and

• (d) the board of a fair or of an exhibition, or the operator of a concession leased by such a board, that, in accordance with paragraph 207(1)(c) of the Criminal Code, in a permanent establishment that is held out to be a casino, conducts and manages a lottery scheme that includes games of roulette or card games. (casino)

client

client means a particular entity that engages in a financial transaction or activity with a reporting entity and includes an entity on whose behalf the particular entity is acting. (client)

credit union central

credit union central means a central cooperative credit society, as defined in section 2 of the Cooperative Credit Associations Act, or a credit union central or a federation of credit unions or caisses populaires that is regulated by a provincial Act other than one enacted by the legislature of Quebec. (centrale de caisses de crédit)

electronic funds transfer

electronic funds transfer means the transmission — through any electronic, magnetic or optical device, telephone instrument or computer — of instructions for the transfer of funds, other than the transfer of funds within Canada. In the case of Society for Worldwide Interbank Financial Telecommunication messages, only SWIFT MT 103 messages are included. (télévirement)

entity

entity means an individual, a body corporate, a partnership, a fund or an unincorporated association or organization. (entité)

funds

funds means cash, currency or securities, or negotiable instruments or other financial instruments, in any form, that indicate an entity’s title or interest, or for civil law a right, in them. (fonds)

money services business

money services business means an entity

• (a) that has a place of business in Canada and that is engaged in the business of providing at least one of the following services:

  • (i) foreign exchange dealing,

  • (ii) remitting funds or transmitting funds by any means or through any entity or electronic funds transfer network,

  • (iii) issuing or redeeming money orders, traveller’s cheques or other similar negotiable instruments except for cheques payable to a named entity,

  • (iv) dealing in virtual currencies, as defined by regulation, or

  • (v) a prescribed service; or

• (b) that does not have a place of business in Canada, that is engaged in the business of providing at least one of the following services that is directed at entities in Canada, and that provides those services to their customers in Canada:

  • (i) foreign exchange dealing,

  • (ii) remitting funds or transmitting funds by any means or through any entity or electronic funds transfer network,

  • (iii) issuing or redeeming money orders, traveller’s cheques or other similar negotiable instruments except for cheques payable to a named entity,

  • (iv) dealing in virtual currencies, as defined by regulation, or

  • (v) a prescribed service. (entreprise de transfert de fonds ou de vente de titres négociables)

reporting entity

reporting entity means an entity that is

• (a) an authorized foreign bank within the meaning of section 2 of the Bank Act in respect of its business in Canada, or a bank to which that Act applies;

• (b) a cooperative credit society, savings and credit union or caisse populaire regulated by a provincial Act;

• (c) a financial services cooperative regulated by An Act respecting financial services cooperatives, R.S.Q., c. C-67.3, or An Act respecting the Mouvement Desjardins, S.Q. 2000, c. 77;

• (d) an association regulated by the Cooperative Credit Associations Act;

• (e) a company to which the Trust and Loan Companies Act applies;

• (f) a trust company regulated by a provincial Act;

• (g) a loan company regulated by a provincial Act;

• (h) a money services business;

• (i) a casino, including a casino owned or controlled by Her Majesty;

• (j) a department or an agent of Her Majesty in right of Canada or of a province that is engaged in the business of accepting deposit liabilities in the course of providing financial services to the public; or

• (k) a credit union central in respect of financial services it offers to an entity, other than an entity that is referred to in any of paragraphs (a) to (g) and (j) and is a member of that credit union central. (entité déclarante)