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

Marginal note:Proportional assessment amount — banks

• 8 (1) The proportional assessment amount for an entity referred to in paragraph 3(a) in respect of a fiscal year is the amount determined by the formula

  (J − K) × (L ÷ M) × (N ÷ O)

  where

  J

  is the Centre’s expenses referred to in section 2 for the fiscal year;

  K

  is the total of all amounts determined under section 7 for the fiscal year;

  L

  is the number of specified reports that all entities referred to in paragraph 3(a) made during the fiscal year;

  M

  is the number of specified reports that all persons and entities made during the fiscal year;

  N

  is the value of the entity’s assets in Canada as of the end of the entity’s financial year that ends in the fiscal year; and

  O

  is the value of the assets in Canada of all entities referred to in paragraph 3(a) as of the end of each of those entities’ financial years that end in the fiscal year.

• Marginal note:Value of assets

  (2) For the purposes of the descriptions of N and O in subsection (1), if the value of an entity’s assets in Canada is less than 0, the value of that entity’s assets in Canada is deemed to be nil.