Proceeds of Crime (Money Laundering) and Terrorist Financing Act

Marginal note:Ineligible for registration

• 11.11 (1) The following persons or entities are not eligible for registration with the Centre:

  • (a) a listed person as defined in section 1 of the Regulations Implementing the United Nations Resolutions on the Suppression of Terrorism;

  • (b) a listed entity as defined in subsection 83.01(1) of the Criminal Code;

  • (c) a person or entity that has been convicted of any of the following:

    • (i) a money laundering offence,

    • (ii) a terrorist activity financing offence,

    • (iii) an offence under this Act when convicted on indictment,

    • (iv) an offence under any of sections 83.18 to 83.231, 354 or 467.11 to 467.13 of the Criminal Code, or

    • (v) a conspiracy or an attempt to commit, being an accessory after the fact in relation to, or any counselling in relation to, an offence referred to in subparagraphs (i) to (iv);

  • (d) a person or entity that has been convicted on indictment or convicted more than once for an offence under Part X of the Criminal Code or under the Controlled Drugs and Substances Act except for the offence under subsection 4(1) of that Act;

  • (e) an entity that is a corporation in respect of which a director, the chief executive officer, the president or the person who owns or controls, directly or indirectly, 20 per cent or more of the shares has been convicted on indictment of an offence under this Act; or

  • (f) any prescribed person or entity.

• Marginal note:Revocation of registration

  (2) If the Centre becomes aware that a person or entity referred to in subsection (1) is registered, the Centre shall revoke the registration and shall, without delay, inform the person or entity of the revocation.