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Proceeds of Crime (Money Laundering) and Terrorist Financing Suspicious Transaction Reporting Regulations

SOR/2001-317

PROCEEDS OF CRIME (MONEY LAUNDERING) AND TERRORIST FINANCING ACT

Registration 2001-08-28

Proceeds of Crime (Money Laundering) and Terrorist Financing Suspicious Transaction Reporting Regulations

P.C. 2001-1500 2001-08-28

Whereas, pursuant to subsection 73(2) of the Proceeds of Crime (Money Laundering) ActFootnote a, a copy of the proposed Proceeds of Crime (Money Laundering) Suspicious Transaction Reporting Regulations was published, substantially in the form set out in the annexed Regulations, as part of the Proceeds of Crime (Money Laundering) Regulations, 2000 in the Canada Gazette, Part I, on February 17, 2001 and a reasonable opportunity was thereby given to interested persons to make representations to the Minister of Finance with respect to the proposed Regulations;

Therefore, Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 73 of the Proceeds of Crime (Money Laundering) ActFootnote a, hereby makes the annexed Proceeds of Crime (Money Laundering) Suspicious Transaction Reporting Regulations.

Interpretation

  •  (1) [Repealed, SOR/2016-153, s. 1]

  • (2) The following definitions apply in these Regulations.

    accountant

    accountant[Repealed, SOR/2019-240, s. 1]

    accounting firm

    accounting firm[Repealed, SOR/2019-240, s. 1]

    Act

    Act means the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. (Loi)

    British Columbia notary corporation

    British Columbia notary corporation[Repealed, SOR/2019-240, s. 1]

    British Columbia notary public

    British Columbia notary public[Repealed, SOR/2019-240, s. 1]

    cash

    cash means coins referred to in section 7 of the Currency Act, notes issued by the Bank of Canada under the Bank of Canada Act that are intended for circulation in Canada or coins or bank notes of countries other than Canada. (espèces)

    cash

    cash or currency[Repealed, SOR/2002-185, s. 2]

    casino

    casino means a government, organization, board or operator that is referred to in any of paragraphs 5(k) to (k.3) of the Act. (casino)

    CICA Handbook

    CICA Handbook[Repealed, SOR/2019-240, s. 1]

    credit union central

    credit union central[Repealed, SOR/2019-240, s. 1]

    dealer in precious metals and stones

    dealer in precious metals and stones[Repealed, SOR/2019-240, s. 1]

    electronic funds transfer

    electronic funds transfer[Repealed, SOR/2019-240, s. 1]

    fiat currency

    fiat currency means a currency that is issued by a country and is designated as legal tender in that country. (monnaie fiduciaire)

    financial entity

    financial entity[Repealed, SOR/2019-240, s. 1]

    financial services cooperative

    financial services cooperative[Repealed, SOR/2019-240, s. 1]

    funds

    funds means

    • (a) cash and other fiat currencies, and securities, negotiable instruments or other financial instruments that indicate a title or right to or interest in them; or

    • (b) a private key of a cryptographic system that enables a person or entity to have access to a fiat currency other than cash.

    For greater certainty, it does not include virtual currency. (fonds)

    jewellery

    jewellery[Repealed, SOR/2019-240, s. 1]

    legal firm

    legal firm[Repealed, SOR/2003-102, s. 1]

    life insurance broker or agent

    life insurance broker or agent[Repealed, SOR/2019-240, s. 1]

    listed person

    listed person has the same meaning as in section 1 of the Regulations Implementing the United Nations Resolutions on the Suppression of Terrorism. (personne inscrite)

    money services business

    money services business[Repealed, SOR/2016-153, s. 1]

    precious metal

    precious metal[Repealed, SOR/2019-240, s. 1]

    precious stones

    precious stones[Repealed, SOR/2019-240, s. 1]

    real estate broker or sales representative

    real estate broker or sales representative[Repealed, SOR/2019-240, s. 1]

    real estate developer

    real estate developer[Repealed, SOR/2019-240, s. 1]

    SWIFT

    SWIFT[Repealed, SOR/2019-240, s. 1]

    trust company

    trust company[Repealed, SOR/2019-240, s. 1]

    virtual currency

    virtual currency means

    • (a) a digital representation of value that can be used for payment or investment purposes that is not a fiat currency and that can be readily exchanged for funds or for another virtual currency that can be readily exchanged for funds; or

    • (b) a private key of a cryptographic system that enables a person or entity to have access to a digital representation of value referred to in paragraph (a). (monnaie virtuelle)

  • SOR/2002-185, s. 2
  • SOR/2003-102, s. 1
  • SOR/2003-358, s. 1
  • SOR/2007-122, s. 1
  • SOR/2007-293, s. 1
  • SOR/2008-21, s. 1
  • SOR/2009-265, s. 1
  • SOR/2016-153, s. 1
  • SOR/2019-240, s. 1
  • SOR/2020-112, s. 1

 If a registered charity, as defined in subsection 248(1) of the Income Tax Act, conducts and manages, in a permanent establishment of a casino, a lottery scheme that includes games of roulette or card games for a period of not more than two consecutive days at a time and, in doing so, acts under the supervision of the government of a province that is referred to in paragraph 5(k) of the Act, or of an organization that is referred to in paragraph 5(k.2) of the Act, that conducts and manages such a lottery scheme in the same establishment, the lottery scheme that is conducted and managed by the registered charity is considered to be conducted and managed by the supervising government or organization.

  • SOR/2003-358, s. 2
  • SOR/2016-153, s. 2

 [Repealed, SOR/2019-240, s. 2]

 [Repealed, SOR/2019-240, s. 2]

 [Repealed, SOR/2019-240, s. 2]

 [Repealed, SOR/2019-240, s. 2]

 [Repealed, SOR/2019-240, s. 2]

 [Repealed, SOR/2019-240, s. 2]

 [Repealed, SOR/2019-240, s. 2]

 [Repealed, SOR/2019-240, s. 2]

 [Repealed, SOR/2019-240, s. 2]

 [Repealed, SOR/2019-240, s. 2]

Report Under Section 7 of the Act

[
  • SOR/2019-240, s. 2
]
  •  (1) Subject to section 11, a report made under section 7 of the Act concerning a financial transaction or attempted financial transaction in respect of which there are reasonable grounds to suspect that the transaction or attempted transaction is related to the commission of a money laundering offence or terrorist activity financing offence shall contain the information set out in Schedule 1.

  • (2) The person or entity shall send the report to the Centre as soon as practicable after they have taken measures that enable them to establish that there are reasonable grounds to suspect that the transaction or attempted transaction is related to the commission of a money laundering offence or a terrorist activity financing offence.

Report Under Section 7.1 of the Act

[
  • SOR/2007-122, s. 7
]
  •  (1) Subject to section 11, a report made under section 7.1 of the Act shall contain the information set out in Schedule 2.

  • (2) The person or entity shall send the report to the Centre immediately.

 
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