E-12.000001 - Money-Services Businesses Act

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12. The Authority may refuse to issue a licence to a money-services business, if the money-services business
(1)  has been convicted of an offence under this Act or an offence under any of the Acts referred to in section 7 of the Act respecting the regulation of the financial sector (chapter E-6.1) or any similar legislation of a Canadian province or territory or of another jurisdiction, a fiscal law, the Corruption of Foreign Public Officials Act (S.C. 1998, c. 34), the Excise Act, 2001 (S.C. 2002, c. 22), subsection 1 of section 4 of the Controlled Drugs and Substances Act (S.C. 1996, c. 19) or the Export and Import Permits Act (R.S.C. 1985, c. E-19), unless a pardon has been obtained;
(2)  has been refused the right to operate or has had its right to operate revoked, suspended or conditions or restrictions imposed on it by a Canadian or foreign money-services regulator; or
(3)  has entered into a contract for the loan of money with a lender, other than a financial institution referred to in subparagraph 3 of the first paragraph of section 6, who or one of whose officers, directors or partners has, in the last 10 years, been convicted of an indictable offence under a fiscal law.
2010, c. 40, Sch. I, s. 12; 2013, c. 18, s. 73; 2018, c. 23, s. 811.
12. The Authority may refuse to issue a licence to a money-services business, if the money-services business
(1)  has been convicted of an offence under this Act or an offence under any of the Acts referred to in section 7 of the Act respecting the Autorité des marchés financiers (chapter A-33.2) or any similar legislation of a Canadian province or territory or of another jurisdiction, a fiscal law, the Corruption of Foreign Public Officials Act (S.C. 1998, c. 34), the Excise Act, 2001 (S.C. 2002, c. 22), subsection 1 of section 4 of the Controlled Drugs and Substances Act (S.C. 1996, c. 19) or the Export and Import Permits Act (R.S.C. 1985, c. E-19), unless a pardon has been obtained;
(2)  has been refused the right to operate or has had its right to operate revoked, suspended or conditions or restrictions imposed on it by a Canadian or foreign money-services regulator; or
(3)  has entered into a contract for the loan of money with a lender, other than a financial institution referred to in subparagraph 3 of the first paragraph of section 6, who or one of whose officers, directors or partners has, in the last 10 years, been convicted of an indictable offence under a fiscal law.
2010, c. 40, Sch. I, s. 12; 2013, c. 18, s. 73.
12. The Authority may refuse to issue a licence to a money-services business, if the money-services business
(1)  has been convicted of or pleaded guilty to an offence under this Act or an offence under any of the Acts listed in Schedule 1 to the Act respecting the Autorité des marchés financiers (chapter A-33.2) or any similar legislation of a Canadian province or territory or of another jurisdiction, a fiscal law, the Corruption of Foreign Public Officials Act (S.C. 1998, c. 34), the Excise Act, 2001 (S.C. 2002, c. 22), subsection 1 of section 4 of the Controlled Drugs and Substances Act (S.C. 1996, c. 19) or the Export and Import Permits Act (R.S.C. 1985, c. E-19), unless a pardon has been obtained;
(2)  has had its right to operate suspended or conditions or restrictions imposed on it by a Canadian or foreign money-services regulator; or
(3)  has entered into a contract for the loan of money with a lender, other than a financial institution referred to in subparagraph 3 of the first paragraph of section 6, who or one of whose officers, directors or partners has, in the last 10 years, been convicted of or pleaded guilty to an indictable offence under a fiscal law.
2010, c. 40, Sch. I, s. 12.