Financial Transactions and Reports Analysis Centre of Canada Assessment of Expenses Regulations (SOR/2023-195)

Marginal note:Prescribed persons and entities

3 The following persons and entities are prescribed for the purpose of subsection 51.1(3) of the Act:

• (a) every bank to which the Bank Act applies and every authorized foreign bank as defined in section 2 of the Bank Act;

• (b) every life company or foreign life company to which the Insurance Companies Act applies;

• (c) every company to which the Trust and Loan Companies Act applies; and

• (d) every person or entity, other than an entity referred to in paragraphs (a) to (c), that made 500 or more specified reports during the fiscal year in which the expenses referred to in subsection 51.1(1) of the Act were incurred.