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Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

Version of section 15 from 2021-06-01 to 2024-03-06:

  •  (1) A trust company shall also keep the following records in respect of a trust for which it is trustee:

    • (a) a copy of the trust deed;

    • (b) a record of the settlor’s name and address and

      • (i) if the settlor is a person, their date of birth and the nature of their principal business or their occupation, and

      • (ii) if the settlor is an entity, the nature of its principal business; and

    • (c) if the trust is an institutional trust and the settlor is a corporation, a copy of the part of the official corporate records that contains any provision relating to the power to bind the corporation in respect of the trust.

  • (2) In this section, institutional trust means a trust that is established by a corporation or other entity for a particular business purpose and includes a pension plan trust, a pension master trust, a supplemental pension plan trust, a mutual fund trust, a pooled fund trust, a registered retirement savings plan trust, a registered retirement income fund trust, a registered education savings plan trust, a group registered retirement savings plan trust, a deferred profit sharing plan trust, an employee profit sharing plan trust, a retirement compensation arrangement trust, an employee savings plan trust, a health and welfare trust, an unemployment benefit plan trust, a foreign insurance company trust, a foreign reinsurance trust, a reinsurance trust, a real estate investment trust, an environmental trust and a trust established in respect of an endowment, a foundation or a registered charity.

  • SOR/2007-293, s. 11
  • SOR/2019-240, s. 28

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