Proceeds of Crime (Money Laundering) and Terrorist Financing Act
Marginal note:Financial transactions to be reported
(a) any financial transaction, or any financial transaction within a class of financial transactions, specified in a directive issued under Part 1.1 that occurs or that is attempted in the course of their activities; and
(b) any prescribed financial transaction that occurs in the course of their activities.
(2) Subsection (1) does not apply to prescribed persons or entities, or prescribed classes of persons or entities, in respect of prescribed transactions, classes of transactions, clients or classes of clients, if the prescribed conditions are met.
Marginal note:List of persons
(3) Every person or entity referred to in section 5 shall establish and maintain a list, in the prescribed form and manner, of their clients in respect of whom a report would have been required under subsection (1) were it not for subsection (2). However, a person or an entity may choose to report a client’s transactions under subsection (1) instead of maintaining the list in respect of that client.
- 2000, c. 17, s. 9
- 2006, c. 12, s. 7
- 2010, c. 12, s. 1864
- Date modified: