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Proceeds of Crime (Money Laundering) and Terrorist Financing Act

Version of section 54 from 2007-02-10 to 2014-06-18:

Marginal note:Reports and information

 The Centre

  • (a) shall receive reports made under section 7, 7.1, 9, 12 or 20, 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 or of the financing of terrorist activities;

  • (b) may collect information that the Centre considers relevant to money laundering activities or the financing of terrorist activities and that is publicly available, including commercially available databases, or that is stored in databases maintained by the federal or provincial governments for purposes related to law enforcement or national security and in respect of which an agreement was entered into under subsection 66(1);

  • (c) shall analyse and assess the reports and information;

  • (d) subject to section 6 of the Privacy Act, shall retain each report referred to in paragraph (a) and all information referred to in paragraph (a) or (b) for 10 years beginning on the day on which the report is received or the information is received or collected; and

  • (e) despite the Library and Archives of Canada Act, shall destroy, 15 years after the day on which a report referred to in paragraph (a) is received, any identifying information contained in the report if the report was not disclosed under subsection 55(3), 55.1(1) or 56.1(1) or (2).

  • 2000, c. 17, s. 54
  • 2001, c. 12, s. 1, c. 41, s. 66
  • 2004, c. 11, s. 42, c. 15, s. 100
  • 2006, c. 12, s. 24
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