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Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

Version of section 56.1 from 2008-06-23 to 2017-06-16:


 Subject to section 56.2 and subsections 62(2) and 63(5), every life insurance company or life insurance broker or agent shall, in accordance with subsection 67.2(3), take reasonable measures to determine if a person who makes a lump-sum payment of $100,000 or more in respect of an immediate or deferred annuity or life insurance policy on their own behalf or on behalf of a third party is a politically exposed foreign person.

  • SOR/2007-122, s. 53
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