Proceeds of Crime (Money Laundering) and Terrorist Financing Act

Marginal note:Payment of penalty

• 73.15 (1) If the person or entity pays the penalty proposed in the notice of violation, the person or entity is deemed to have committed the violation and proceedings in respect of it are ended.

• Marginal note:Representations to Director

  (2) If the person or entity makes representations in accordance with the notice, the Director shall decide, on a balance of probabilities, whether the person or entity committed the violation and, if so, may, subject to any regulations made under paragraph 73.1(1)(c), impose the penalty proposed, a lesser penalty or no penalty.

• Marginal note:Failure to pay or make representations

  (3) A person or entity that neither pays the penalty nor makes representations in accordance with the notice is deemed to have committed the violation and the Centre shall impose the penalty proposed in the notice.

• Marginal note:Notice of decision and right of appeal

  (4) The Director shall cause notice of any decision made under subsection (2) or the penalty imposed under subsection (3) to be issued and served on the person or entity together with, in the case of a decision made under subsection (2) in respect of a serious violation or very serious violation, notice of the right of appeal under subsection 73.21(1).