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Obligations (continued)

Marginal note:Duty to determine

 The following entities must determine on a continuing basis whether they are in possession or control of property owned, held or controlled by or on behalf of a designated person:

  • (a) authorized foreign banks, as defined in section 2 of the Bank Act, in respect of their business in Canada, and banks regulated by that Act;

  • (b) cooperative credit societies, savings and credit unions and caisses populaires regulated by a provincial Act and associations regulated by the Cooperative Credit Associations Act;

  • (c) foreign companies, as defined in subsection 2(1) of the Insurance Companies Act, in respect of their insurance activities in Canada;

  • (d) companies, provincial companies and societies, as those terms are defined in subsection 2(1) of the Insurance Companies Act;

  • (e) fraternal benefit societies regulated by a provincial Act in respect of their insurance activities and insurance companies and other entities regulated by a provincial Act that are engaged in the business of insuring risks;

  • (f) companies regulated by the Trust and Loan Companies Act;

  • (g) trust companies regulated by a provincial Act;

  • (h) loan companies regulated by a provincial Act;

  • (i) entities that engage in any activity referred to in paragraph 5(h) of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act if the activity involves the opening of an account for a client; and

  • (j) entities authorized under provincial legislation to engage in the business of dealing in securities or to provide portfolio management or investment counselling services.

Marginal note:Duty to disclose — RCMP or CSIS

  •  (1) Every person in Canada, every Canadian outside Canada and every entity set out in section 19 must disclose without delay to the Commissioner of the Royal Canadian Mounted Police or to the Director of the Canadian Security Intelligence Service

    • (a) the existence of property in their possession or control that they have reason to believe is owned, held or controlled by or on behalf of a designated person; and

    • (b) any information about a transaction or proposed transaction in respect of property referred to in paragraph (a).

  • Marginal note:Immunity

    (2) No proceedings under the United Nations Act and no civil proceedings lie against a person for a disclosure made in good faith under subsection (1).

Applications

Marginal note:Exemption

  •  (1) A person that wishes to engage in any activity that is prohibited under these Regulations must, before doing so, apply to the Minister in writing for a certificate to exempt the activity from the application of the Regulations.

  • Marginal note:Certificate

    (2) The Minister must issue the certificate if the Security Council did not intend that the activity be prohibited or if the Security Council or the Committee of the Security Council has approved the activity in advance.

Marginal note:Basic or extraordinary expenses

  •  (1) A person whose property is affected by the application of section 2 may apply to the Minister in writing for a certificate to exempt the property from the application of that section if the property is necessary for basic or extraordinary expenses or is subject to a lien, mortgage or security interest, to a hypothec or prior claim, to a charge or to a judicial, administrative or arbitral decision.

  • Marginal note:Certificate

    (2) If it is established in accordance with Security Council Resolution 1718 that the property is necessary for basic or extraordinary expenses or that it is subject to a lien, mortgage or security interest, to a hypothec or prior claim, to a charge or to a judicial, administrative or arbitral decision, the Minister must issue a certificate within the following time periods:

    • (a) within 15 working days after receiving the application, in the case of property necessary for basic expenses, if the Committee of the Security Council did not oppose the application;

    • (b) within 30 working days after receiving the application, in the case of property necessary for extraordinary expenses, if the Committee of the Security Council approved the application; and

    • (c) within 90 working days after receiving the application, in the case of property that is subject to a lien, mortgage or security interest, to a hypothec or prior claim, to a charge or to a judicial, administrative or arbitral decision that

      • (i) was created or issued before the person became a designated person,

      • (ii) is not for the benefit of a designated person, and

      • (iii) has been brought to the attention of the Committee of the Security Council by the Minister.

Marginal note:Mistaken identity

  •  (1) A person whose name is the same as or similar to the name of a designated person and that claims not to be that designated person may apply to the Minister in writing for a certificate stating that they are not that designated person.

  • Marginal note:Determination by Minister

    (2) Within 45 working days after receiving the application, the Minister must

    • (a) issue the certificate, if it is established that the applicant is not the designated person; or

    • (b) provide notice to the applicant of his or her determination, if it is not so established.

Marginal note:Vessels

  •  (1) A person whose vessel is subject to a measure taken under subsection 18(1) based on a decision made under paragraph 18(1)(c) may apply in writing to the Minister for a reconsideration of that decision.

  • Marginal note:Favourable decision

    (2) If the Minister believes that subparagraph 18(1)(c)(i) or (ii) no longer applies to the vessel, the Minister must notify the applicant and the Chief Registrar of his or her decision and the Chief Registrar must rescind the measure taken.

  • Marginal note:Unfavourable decision

    (3) If the Minister believes that subparagraph 18(1)(c)(i) or (ii) continues to apply to the vessel, the Minister must notify the applicant of the decision to confirm the measure.

  • Marginal note:New application

    (4) If there has been a material change in circumstances since the last application was submitted under subsection (1), a person may submit another application to the Minister.

Personal Information

Marginal note:Communication by Minister

  •  (1) The Minister may, for the purpose of enforcing these Regulations or fulfilling any obligation under a resolution of the Security Council with respect to the DPRK or to respond to a request from the Security Council or any of its subsidiary organs, disclose any personal information to an official or to the Security Council or any of its subsidiary organs.

  • Marginal note:Receipt of information

    (2) An official may receive any personal information disclosed to them under subsection (1).

  • Marginal note:Communication by official

    (3) An official may, for the purpose of administering or enforcing these Regulations or fulfilling an obligation under a resolution of the Security Council with respect to the DPRK or to respond to a request from the Security Council or any of its subsidiary organs, disclose any personal information to the Minister.

 
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