Proceeds of Crime (Money Laundering) and Terrorist Financing Act

Marginal note:Commission of violation

• 73.13 (1) Every contravention that is designated under paragraph 73.1(1)(a) constitutes a violation and the person or entity that commits the violation is liable to a penalty determined in accordance with sections 73.1 and 73.11.

• Marginal note:Notice of violation or compliance agreement

  (2) If the Centre believes on reasonable grounds that a person or entity has committed a violation, the Centre may

  • (a) issue and cause to be served on the person or entity a notice of violation; or

  • (b) issue and cause to be served on the person or entity a notice of violation with an offer to reduce by half the penalty proposed in the notice if the person or entity enters into a compliance agreement with the Centre in respect of the provision to which the violation relates.