Proceeds of Crime (Money Laundering) and Terrorist Financing Act

Marginal note:Application of Part

5 This Part applies to the following persons and entities:

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

• (b) cooperative credit societies, savings and credit unions and caisses populaires regulated by a provincial Act and associations regulated by the Cooperative Credit Associations Act;

• (c) life companies or foreign life companies to which the Insurance Companies Act applies or life insurance companies regulated by a provincial Act;

• (d) companies to which the Trust and Loan Companies Act applies;

• (e) trust companies regulated by a provincial Act;

• (e.1) trust companies incorporated or formed by or under a provincial Act that are not regulated by a provincial Act;

• (f) loan companies regulated by a provincial Act;

• (g) persons and entities authorized under provincial legislation to engage in the business of dealing in securities or any other financial instruments or to provide portfolio management or investment advising services, other than persons who act exclusively on behalf of such an authorized person or entity;

• (h) persons and entities that have a place of business in Canada and that are 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 person, entity or electronic funds transfer network,

  • (ii.1) transporting currency or money orders, traveller’s cheques or other similar negotiable instruments,

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

  • (iv) dealing in virtual currencies, or

  • (v) any prescribed service;

• (h.1) persons and entities that do not have a place of business in Canada, that are engaged in the business of providing at least one of the following services that is directed at persons or entities in Canada, and that provide those services to their clients in Canada:

  • (i) foreign exchange dealing,

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

  • (ii.1) transporting currency or money orders, traveller’s cheques or other similar negotiable instruments,

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

  • (iv) dealing in virtual currencies, or

  • (v) any prescribed service;

• (i) persons and entities engaged in a prescribed business, profession or activity;

• (j) persons and entities engaged in a prescribed business or profession, while carrying out a prescribed activity;

• (k) 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 the Criminal Code, or any other similar electronic gaming device, if there are more than 50 of those machines or other devices in the establishment;

• (k.1) 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 described in subparagraph (k)(ii);

• (k.2) 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, as defined in subsection 248(1) of the Income Tax Act, and the lottery scheme is conducted or managed for a period of not more than two consecutive days at a time;

• (k.3) 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;

• (l) departments and agents or mandataries of Her Majesty in right of Canada or of a province that are engaged in the business of accepting deposit liabilities, that issue or sell money orders to, or redeem them from, the public or that sell prescribed precious metals, while carrying out a prescribed activity; and

• (m) for the purposes of section 7, employees of a person or entity referred to in any of paragraphs (a) to (l).