Government of Canada / Gouvernement du Canada
Symbol of the Government of Canada

Search

Proceeds of Crime (Money Laundering) and Terrorist Financing Act (S.C. 2000, c. 17)

Act current to 2022-11-16 and last amended on 2021-06-29. Previous Versions

AMENDMENTS NOT IN FORCE

  • — 2021, c. 23, s. 159

      • 159 (1) Paragraph 5(h) of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act is amended by adding the following after subparagraph (ii):

        • (ii.1) transporting currency or money orders, traveller’s cheques or other similar negotiable instruments except for cheques payable to a named person or entity,

      • (2) Paragraph 5(h.1) of the Act is amended by adding the following after subparagraph (ii):

        • (ii.1) transporting currency or money orders, traveller’s cheques or other similar negotiable instruments except for cheques payable to a named person or entity,

  • — 2021, c. 23, s. 164

    • 164 The Act is amended by adding the following after section 50:

      Appropriation

      • Advance amounts out of C.R.F.
        • 50.1 (1) Subject to subsection (2), the Minister may, in any fiscal year on terms and conditions — including the rate of interest, if any — that are determined by the Minister, advance amounts out of the Consolidated Revenue Fund to the Centre to permit it to defray its costs of operation.

        • Spending authority

          (2) In carrying out its responsibilities, the Centre may spend assessments and other revenues received through the conduct of its operations in the fiscal year in which they are received or, unless an appropriation Act provides otherwise, in the next fiscal year. The amount of those assessments or other revenues shall be paid out of the Consolidated Revenue Fund.

        • Payment for activity

          (3) If the Centre carries on any activity under paragraph 58(1)(b) or (c) on the Minister’s recommendation, the Minister may on terms and conditions approved by the Treasury Board, in any fiscal year, make a payment out of the Consolidated Revenue Fund to the Centre for the purposes of the activity.

  • — 2021, c. 23, s. 165

    • 165 The Act is amended by adding the following after section 51:

      Assessments

      • Centre to ascertain expenses
        • 51.1 (1) The Centre shall, before December 31 in each year, ascertain the total amount of prescribed expenses — excluding the expenses incurred for the disclosure of designated information under subsection 55(3), 55.1(1) or 56.1(1), (2) or (3) and for the analysis and assessment of reports and information made for the purposes of that disclosure — incurred during the immediately preceding fiscal year for or in connection with the administration of this Act.

        • Amount conclusive

          (2) The amount ascertained under subsection (1) is final and conclusive for the purposes of this section.

        • Assessment

          (3) As soon as feasible after ascertaining the amount under subsection (1), the Centre shall assess a portion of the total amount of expenses against every prescribed person or entity referred to in section 5 to the prescribed extent and in the prescribed manner.

        • Interim assessment

          (4) The Centre may, during each fiscal year, make an interim assessment against any person or entity referred to in section 5.

      • Assessment of particular expenses
        • 51.2 (1) The Centre may assess against a person or entity referred to in section 5 a prescribed charge and applicable disbursements for any prescribed service provided to them by or on behalf of the Centre.

        • Interim assessment

          (2) The Centre may, during each fiscal year, make an interim assessment against the person or entity towards the amount to be assessed against them under subsection (1).

      • Prescribed information
        • 51.3 (1) For the purposes of making an assessment or interim assessment under section 51.1 or 51.2, the Centre may collect prescribed information that is

          • (a) publicly available;

          • (b) provided to the Centre under an agreement entered into under subsection 66(1); or

          • (c) provided to the Centre under subsection (2).

        • Request by Centre

          (2) For the purposes of paragraph (1)(c), the Centre may request that a person or entity referred to in section 5 provide the Centre with the prescribed information. The person or entity shall comply with the Centre’s request in the prescribed time and manner.

      • Assessment binding
        • 51.4 (1) Every assessment and interim assessment made under section 51.1 or 51.2 is final and conclusive and binding on the person or entity against which it is made.

        • Recovery

          (2) Every assessment and interim assessment constitutes a debt due to Her Majesty in right of Canada, is immediately payable and may be recovered as a debt in any court of competent jurisdiction.

        • Interest

          (3) Interest may be charged on the unpaid amount of an assessment or interim assessment at a rate equal to the rate prescribed under the Income Tax Act for amounts payable by the Minister of National Revenue as refunds of overpayments of tax under that Act in effect from time to time plus 2%.

  • — 2021, c. 23, s. 170

    • 170 Subsection 73(1) of the Act is amended by striking out “and” at the end of paragraph (k) and by adding the following after that paragraph:

      • (k.1) respecting the assessments referred to in section 51.1;

      • (k.2) respecting the assessments referred to in section 51.2; and

  • — 2021, c. 23, s. 180

    • 180 The Proceeds of Crime (Money Laundering) and Terrorist Financing Act is amended by adding the following after section 53.5:

      • Retail Payment Activities Act
        • 53.6 (1) The Centre shall, within 30 days after the day on which it receives the information referred to in section 31 of the Retail Payment Activities Act, notify the Bank of Canada if an applicant referred to in that section

          • (a) has, during the five-year period before the day on which the application was submitted, been found guilty of contravening a provision referred to in section 74, 75 or 76, subsection 77(1) or section 77.1 of this Act;

          • (b) has, during the five-year period before the day on which the application was submitted, been served under subsection 73.15(4) of this Act with a notice of a decision or of an imposed penalty in relation to a serious or very serious violation; or

          • (c) is not registered under this Act.

        • Information respecting payment service providers

          (2) The Centre shall notify the Bank of Canada as soon as feasible if

          • (a) a payment service provider that is registered, as those expressions are defined in section 2 of the Retail Payment Activities Act, is found guilty of contravening a provision referred to in section 74, 75 or 76, subsection 77(1) or section 77.1 of this Act;

          • (b) under subsection 73.15(4) of this Act, the Director causes, in relation to a serious or very serious violation, a notice of a decision or of an imposed penalty to be issued and served on a payment service provider that is registered, as those expressions are defined in section 2 of the Retail Payment Activities Act; or

          • (c) the Centre revokes the registration under this Act of a payment service provider that is registered, as those expressions are defined in section 2 of the Retail Payment Activities Act.

        • Reviews and appeals

          (3) The Centre shall notify the Bank of Canada as soon as feasible if a finding of guilt referred to in paragraph (2)(a) is appealed, if a notice referred to in paragraph (2)(b) is appealed or if a revocation of registration referred to in paragraph (2)(c) is reviewed or appealed and shall notify the Bank of Canada as soon as feasible of the outcome of the appeal or review.

        • Exception

          (4) The Centre is not required to notify the Bank of Canada of a finding of guilt referred to in paragraph (1)(a) or (2)(a) or an appeal referred to in subsection (3) if that information is not readily accessible by the Centre.

  • — 2021, c. 23, s. 181

    • 181 The portion of subsection 55(1) of the Act before paragraph (a) is replaced by the following:

      • Disclosure by Centre prohibited
        • 55 (1) Subject to subsections (3) and (6.1), sections 52, 53.4 to 53.6, 55.1, 56.1 and 56.2, subsection 58(1) and sections 65 to 65.1 and 68.1 of this Act and to subsection 12(1) of the Privacy Act, the Centre shall not disclose the following:

  • — 2021, c. 23, s. 185

    • This Act

      185 On the first day on which both subsection 167(1) and section 181 of this Act are in force, the portion of subsection 55(1) of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act before paragraph (a) is replaced by the following:

      • Disclosure by Centre prohibited
        • 55 (1) Subject to subsections (3) and (6.1), sections 52, 53.1, 53.4 to 53.6, 55.1, 56.1 and 56.2, subsection 58(1) and sections 58.1, 65 to 65.1 and 68.1 of this Act and to subsection 12(1) of the Privacy Act, the Centre shall not disclose the following:

Date modified: