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Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

Version of section 27 from 2006-03-22 to 2008-06-22:

  •  (1) Every money services business is subject to Part 1 of the Act when it engages in any of the following activities:

    • (a) remitting funds or transmitting funds by any means or through any person, entity or electronic funds transfer network; or

    • (b) issuing or redeeming money orders, traveller’s cheques or other similar negotiable instruments.

  • (2) For greater certainty, paragraph (1)(b) does not apply in respect of the redemption of any cheque payable to a named person or entity.

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