Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations
65 (1) The existence of a corporation shall be confirmed and its name and address and the names of its directors shall be ascertained as of the time referred to in subsection (2), by referring to its certificate of corporate status, a record that it is required to file annually under the applicable provincial securities legislation or any other record that ascertains its existence as a corporation. The record may be in paper form or in an electronic version that is obtained from a source that is accessible to the public.
(2) The information referred to in subsection (1) shall be ascertained,
(a) in the cases referred to in paragraphs 54(d) and 60(e), before the first transaction, other than the initial deposit, is carried out on the account;
(a.1) in the case referred to in paragraph 54.1(b), before any credit card is issued on the account;
(b) in the cases referred to in paragraphs 55(b) and (d), within 15 days after the trust company becomes the trustee;
(c) in the cases referred to in subsections 56(3) and 59(2) and paragraph 61(c), within 30 days after the client information record is created;
(d) in the case referred to in subsection 57(3), within 30 days after the opening of the account; and
(e) in the cases referred to in paragraphs 59.1(b), 59.2(1)(b), 59.3(b), 59.4(1)(b) and 59.5(b), within 30 days after the transaction.
(3) Where the information has been ascertained by referring to an electronic version of a record, the person or entity required to ascertain the information shall keep a record that sets out the corporation’s registration number, the type of record referred to and the source of the electronic version of the record.
(4) Where the information has been ascertained by referring to a paper copy of a record, the person or entity required to ascertain the information shall retain the record or a copy of it.
- SOR/2007-122, s. 64
- SOR/2007-293, s. 28
- SOR/2008-21, s. 16
- SOR/2016-153, s. 72
- Date modified: