Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations — 1
ent 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. ( négociant en métaux précieux et pierres précieuses ) deferred profit sharing plan has the same meaning as in subsection 248(1) of the Income Tax Act . ( régime de participation différée aux bénéfices ) deposit slip means a record that sets out (a) the date of the deposit; (b) the name of the person or entity that makes the deposit; (c) the amount of the deposit and of any part of it that is made in cash; (d) the method by which the deposit is made; and (e) the number of the account into which the deposit is made and the name of each account holder. ( relevé de dépôt ) electronic funds transfer means the transmission — by any electronic, magnetic or optical means — of instructions for the transfer of funds, including a transmission of instructions that is initiated and finally received by the same person or entity. In the case of SWIFT messages, only SWIFT MT-103 messages and their equivalent are included. It does not include a transmission of instructions for the transfer of funds (a) [Repealed, SOR/2022-76, s. 1] (b) that involves the beneficiary withdrawing cash from their account; (c) that is carried out by means of a direct deposit or a pre-authorized debit; (d) that is carried out by cheque imaging and presentment; (e) that is both initiated and finally received by persons or entities that are acting to clear or settle payment obligations between themselves; or (f) that is initiated or finally received by a person or entity referred to in paragraphs 5(a) to (h.1) of the Act for the purpose of internal treasury management, including the management of their financial assets and liabilities, if one of the parties to the transaction is a subsidiary of the other or if they are subsidiaries of the same corporation. ( télévirement ) employees profit sharing plan has the same meaning as in subsection 248(1) of the Income Tax Act . ( régime de participation des employés aux bénéfices ) factor means a person or entity that is engaged in the business of factoring, with or without recourse against the assignor. ( affactureur ) fiat currency means a currency that is issued by a country and is designated as legal tender in that country. ( monnaie fiduciaire ) final receipt , in respect of an electronic funds transfer, means the receipt of the instructions by the person or entity that is to make the remittance to a beneficiary. ( destinataire ) financial entity means (a) an entity that is referred to in any of paragraphs 5(a), (b) and (d) to (f) of the Act; (b) a financial services cooperative; (c) a life insurance company, or an entity that is a life insurance broker or agent, in respect of loans or prepaid payment products that it offers to the public and accounts that it maintains with respect to those loans or prepaid payment products, other than (i) loans that are made by the insurer to a policy holder if the insured person has a terminal illness that significantly reduces their life expectancy and the loan is secured by the value of an insurance policy; (ii) loans that are made by the insurer to the policy holder for the sole purpose of funding the life insurance policy; and (iii) advance payments to which the policy holder is entitled that are made to them by the insurer; (d) a credit union central when it offers financial services to a person, or to an entity that is not a member of that credit union central; and (e) a department, or an entity that is an agent of His Majesty in right of Canada or an agent or mandatary of His Majesty in right of a province, when it carries out an activity referred to in section 76. ( entité financière ) financial services cooperative means a financial services cooperative that is regulated by An Act respecting financial services cooperatives , CQLR, c. C-67.3, other than a caisse populaire. ( coo