Proceeds of Crime (Money Laundering) and Terrorist Financing Act

Marginal note:Registrar

• 54.1 (1) The Centre is responsible for establishing and maintaining a registry of the prescribed information submitted under sections 11.12 to 11.3.

• Marginal note:Registry

  (2) The registry shall be organized in any manner and kept in any form that the Centre may determine.

• Marginal note:Public access

  (3) The Centre shall make available to the public the part of the information referred to in subsection (1) that is identifying information as defined in the regulations.

• Marginal note:Verification of information

  (4) The Centre may verify the information contained in any application for registration or any other information submitted under sections 11.12 to 11.3.

• Marginal note:Analysis of information

  (5) The Centre may analyse and assess the information referred to in subsection (4) and, in that case, that analysis or assessment is deemed to be an analysis or assessment conducted under paragraph 54(c).

• Marginal note:Retention of information

  (6) Subject to section 6 of the Privacy Act, the Centre shall retain information referred to in subsection (4) for 10 years beginning on the day on which the Centre denies the registration of an applicant, on which a registered person or entity notifies the Centre that they have ceased their activities, or on which a person or entity is no longer registered with the Centre.