Economic Action Plan 2014 Act, No. 1 (S.C. 2014, c. 20)

Marginal note:2001, c. 41, s. 68; 2006, c. 12, s. 28(1)(E)

• 284. (1) Subsection 56.1(3) of the Act is replaced by the following:

  • Marginal note:Other disclosure

    (3) In order to perform its functions under paragraph 54(1)(c), the Centre may direct queries to an institution or agency in respect of which an agreement or arrangement referred to in paragraph (1)(b) or (2)(b) has been entered into, and in doing so it may disclose designated information.

• (2) Section 56.1 of the Act is amended by adding the following after subsection (4):

  • Marginal note:Publication

    (4.1) After a person has been determined by a court to be guilty of a money laundering offence or a terrorist activity financing offence, or has been determined by a foreign court to be guilty of an offence that is substantially similar to either offence, whether on acceptance of a plea of guilty or on a finding of guilt, the Centre may, if it has disclosed designated information under subsection (1) or (2) with respect to the investigation or prosecution of the offence, make public the fact that it made such a disclosure.

• Marginal note:2006, c. 12, s. 28(2)

  (3) Paragraph 56.1(5)(a) of the Act is replaced by the following:

  • (a) the name of any person or entity that is involved in the transaction, attempted transaction, importation or exportation or of any person or entity acting on their behalf, as well as the person’s occupation or business and gender and the entity’s business;

• Marginal note:2006, c. 12, s. 28(3)

  (4) Paragraph 56.1(5)(k) of the Act is replaced by the following:

  • (k) the grounds on which a person or entity made a report under section 7 about the transaction or attempted transaction and any action taken by the person or entity as a result of the suspicions that led them to make the report;

• (5) Subsection 56.1(5) of the Act is amended by striking out “and” at the end of paragraph (m) and by adding the following after paragraph (n):

  • (o) information about the importation or exportation that was reported to the Centre under section 20; and

  • (p) if the transaction is carried out by means of an electronic funds transfer as defined in the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations, information about the transaction that is contained in a report made under section 9 and that is remittance information as defined by the Society for Worldwide Interbank Financial Telecommunication.

285. Subsection 58(2) of the Act is replaced by the following:

Marginal note:2010, c. 12, s. 1876

286. Section 58.1 of the Act is replaced by the following:

Marginal note:2010, c. 12, par. 1882(d)

• 287. (1) Subsection 65(1) of the Act is replaced by the following:

  Marginal note:Disclosure to law enforcement agencies

  • 65. (1) The Centre may disclose to the appropriate law enforcement agencies any information of which it becomes aware under subsection (4) or section 62, 63 or 63.1 and that it suspects on reasonable grounds would be relevant to investigating or prosecuting an offence under this Act arising out of a contravention of Part 1 or 1.1.

• (2) Section 65 of the Act is amended by adding the following after subsection (3):

  • Marginal note:Compliance of persons or entities

    (4) For the purpose of ensuring compliance with Parts 1 and 1.1, the Centre shall receive information voluntarily provided to it by a person or entity  —  other than an agency or body referred to in subsection (2)  —  relating to the compliance with Part 1 or 1.1 of persons or entities referred to in section 5.

288. The Act is amended by adding the following after section 65:

289. The Act is amended by adding the following after section 65.01:

290. Subsections 66(1) and (2) of the Act are replaced by the following:

291. The Act is amended by adding the following after section 68:

292. Subsection 71(2) of the Act is replaced by the following:

293. The Act is amended by adding the following after section 72:

• 294. (1) Paragraph 73(1)(a) of the Act is replaced by the following:

  • (a) describing services for the purpose of subparagraph 5(h)(v) or (h.1)(v) and activities for the purpose of businesses, professions and activities for the purpose of paragraph 5(i);

• Marginal note:2001, c. 41, s. 73(1)

  (2) Paragraph 73(1)(g) of the Act is replaced by the following:

  • (g) defining “courier” and “monetary instruments”;

• (3) Subsection 73(1) of the Act is amended by adding the following after paragraph (g):

  • (g.1) for the purposes of subparagraphs 5(h)(iv) and (h.1)(iv), defining “deal in”, in relation to virtual currencies, and “virtual currencies”;

• Marginal note:2006, c. 12, s. 39(2)

  (4) Paragraphs 73(1)(j) to (l) of the Act are replaced by the following:

  • (j) prescribing, for the purposes of subsection 9.3(1), the manner for determining whether a person is a person described in any of paragraphs 9.3(1)(a) to (c) and the circumstances in which it is necessary to make that determination;

  • (k) prescribing, for the purposes of subsections 9.3(2) and (2.1), the circumstances in which it is necessary to obtain the approval of senior management and the measures to be taken;

  • (l) prescribing offices and positions for the purposes of paragraph (j) of the definition “politically exposed domestic person” in subsection 9.3(3) or paragraph (j) of the definition “politically exposed foreign person” in that subsection;

  • (l.1) prescribing family members for the purposes of subsection 9.3(1);

  • (l.2) defining “foreign state” for the purposes of the definition “politically exposed foreign person” in subsection 9.3(3);

• Marginal note:2006, c. 12, s. 39(2)

  (5) Paragraph 73(1)(o) of the Act is replaced by the following:

  • (o) prescribing the services referred to in the definition “correspondent banking relationship” in subsections 9.31(2) and 9.4(3);

• Marginal note:2010, c. 12, s. 1877

  (6) Paragraphs 73(1)(y.1) and (y.2) of the Act are repealed.