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Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

Version of section 46 from 2021-06-01 to 2024-05-28:

 A legal counsel or legal firm that, in connection with a transaction, receives funds from the trust account of a legal firm or from the trust account of a legal counsel who is not acting on behalf of their employer,

  • (a) must keep and retain a record of that fact; and

  • (b) is not required to include in the receipt of funds record that is kept in respect of those funds

    • (i) the number and type of any account that is affected by the transaction, or

    • (ii) the full name of the person or entity that is the holder of that account.

  • SOR/2007-293, s. 14
  • SOR/2019-240, s. 30

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