Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations — 1
1 (1) In the Act and in these Regulations, shell bank means a foreign financial institution that (a) does not have a place of business that (i) is located at a fixed address — where it employs one or more persons on a full-time basis and maintains operating records related to its banking activities — in a country in which it is authorized to conduct banking activities, and (ii) is subject to inspection by the regulatory authority that licensed it to conduct banking activities; and (b) is not controlled by, or under common control with, a depository institution, credit union or foreign financial institution that maintains a place of business referred to in paragraph (a) in Canada or in a foreign country. (2) The following definitions apply in these Regulations. accountant means a chartered accountant, a certified general accountant, a certified management accountant or, if applicable, a chartered professional accountant. ( comptable ) accounting firm means an entity that is engaged in the business of providing accounting services to the public and has at least one partner, employee or administrator that is an accountant. ( cabinet d’expertise comptable ) Act means the Proceeds of Crime (Money Laundering) and Terrorist Financing Act . ( Loi ) annuity has the same meaning as in subsection 248(1) of the Income Tax Act . ( rente ) authorized user means a person who is authorized by a holder of a prepaid payment product account to have electronic access to funds or virtual currency available in the account by means of a prepaid payment product that is connected to it. ( utilisateur autorisé ) British Columbia notary corporation means an entity that carries on the business of providing notary services to the public in British Columbia in accordance with the Notaries Act , R.S.B.C. 1996, c. 334. ( société de notaires de la Colombie-Britannique ) British Columbia notary public means a person who is a member of the Society of Notaries Public of British Columbia. ( notaire public de la Colombie-Britannique ) business relationship [Repealed, SOR/2019-240, s. 22] cash means coins referred to in section 7 of the Currency Act , notes issued by the Bank of Canada under the Bank of Canada Act that are intended for circulation in Canada or coins or bank notes of countries other than Canada. ( espèces ) casino means a government, organization, board or operator that is referred to in any of paragraphs 5(k) to (k.3) of the Act. ( casino ) CICA Handbook [Repealed, SOR/2019-240, s. 22] client credit file [Repealed, SOR/2016-153, s. 15] client information record [Repealed, SOR/2019-240, s. 22] correspondent banking relationship has the same meaning as in subsection 9.4(3) of the Act. ( relation de correspondant bancaire ) credit union central means a central cooperative credit society, as defined in section 2 of the Cooperative Credit Associations Act , or a credit union central or a federation of credit unions or caisses populaires that is regulated by a provincial Act other than one enacted by the legislature of Quebec. ( centrale de caisses de crédit ) crowdfunding platform means a website or an application or other software that is used to raise funds or virtual currency through donations. ( plateforme de sociofinancement ) crowdfunding platform services means the provision and maintenance of a crowdfunding platform for use by other persons or entities to raise funds or virtual currency for themselves or for persons or entities specified by them. ( services de plateforme de sociofinancement ) dealer in precious metals and precious stones means a person or entity that, in the course of their business activities, buys or sells precious metals, precious stones or jewellery. It includes a department or an agent of His Majesty in right of Canada or an agent or mandatary of His Majesty in right of a province when the department or the agent or mandatary carries out the activity, referred to in subsection 65(1), of selling precious metals to the public