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Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

Version of section 63 from 2016-06-30 to 2017-06-16:

  •  (1) If a person or entity ascertains a person’s identity in accordance with subsection 64(1) and complies with section 64.2 — or if, before the coming into force of this subsection, they ascertained a person’s identity in accordance with subsection 64(1) or (1.1) and complied with section 67, as they read at the time the identity was ascertained — they are not required to ascertain the person’s identity again unless they have doubts about the information that was used for that purpose.

  • (1.1) [Repealed, SOR/2016-153, s. 69]

  • (2) If a person or entity confirms a corporation’s existence and ascertains its name and address and the names of its directors in accordance with section 65, they are not required to confirm its existence or ascertain that information again unless they have doubts about the information that was used for that purpose.

  • (3) If a person or entity confirms the existence of an entity other than a corporation in accordance with section 66, they are not required to confirm its existence again unless they have doubts about the information that was used for that purpose.

  • (4) Despite paragraphs 54(d) and 54.1(b), subsections 56(3), 57(3) and 59(2) and paragraphs 59.1(b), 59.2(1)(b), 60(e) and 61(c), the names of a corporation’s directors do not need to be ascertained if the corporation is a securities dealer.

  • (5) A person or entity that has determined that a person is a politically exposed foreign person in accordance with section 54.2, 56.1 or 57.1 or subsection 59(5) is not required to subsequently determine if that same person is a politically exposed foreign person.

  • SOR/2003-358, s. 17
  • SOR/2007-122, s. 61
  • SOR/2016-153, s. 69
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