Proceeds of Crime (Money Laundering) and Terrorist Financing Act

Marginal note:Regulations

• 73.1 (1) The Governor in Council may make regulations

  • (a) designating, as a violation that may be proceeded with under this Part, the contravention of a specified provision of this Act or the regulations;

  • (b) classifying each violation as a minor violation, a serious violation or a very serious violation, and classifying a series of minor violations as a serious violation or a very serious violation;

  • (c) having regard to subsection (2), fixing a penalty, or a range of penalties, in respect of any violation;

  • (d) prescribing the additional penalty to be paid for the purposes of subsection 73.18(1);

  • (e) respecting the service of documents under this Part, including the manner and proof of service and the circumstances under which documents are deemed to be served; and

  • (f) generally for carrying out the purposes and provisions of this Part.

• Marginal note:Maximum penalties

  (2) The maximum penalty for a violation is $100,000 if the violation is committed by a person and $500,000 if the violation is committed by an entity.