E-12.000001 - Money-Services Businesses Act

Article 65.1 Versions de la disposition

2024-05-07

65.1. A monetary administrative penalty of $500 in the case of a natural person or $1,500 in any other case may be imposed on a money-services business that, in contravention of

0.1°  section 21.1, does not return its licence or a copy of its licence or does not withdraw a decal;

1°  section 22, does not pay the fees determined by regulation;

2°  the first paragraph of section 22.1, does not display its licence, a copy of its licence or a decal in the manner provided for in that paragraph;

2.1°  the second paragraph of section 22.1, does not display its licence number in an application or on a website;

3°  section 26, has failed to inform the Minister of any change in the information already filed to obtain a licence;

4°  section 28, does not verify the identity of its customers or co-contracting parties;

5°  the first paragraph of section 29, does not maintain and update its records and registers;

6°  the second paragraph of section 29, does not make its records and registers available to the Minister;

7°  the third paragraph of section 29, does not provide the Minister with technical assistance to facilitate the Minister’s inspection of the information contained in its records and registers;

8°  section 30, does not keep the customer information it has on file for six years after the information is gathered;

9°  section 32, fails to provide, within the specified time, any information or document requested by the Minister;

10°  the first paragraph of section 34, does not notify the Minister of the cessation of its activities;

11°  the second paragraph of section 34, does not comply with the conditions determined by the Minister;

12°  section 35, has failed to hand its records, books and registers over to the Minister; or

13°  section 16 of the Regulation under the Money-Services Businesses Act (chapter E-12.000001, r. 1), does not keep the information on its co-contracting parties for six years after such information is gathered.

2020, c. 5, s. 64; 2023, c. 30, s. 53; 2024, c. 11, s. 201.

2023-12-07

65.1. A monetary administrative penalty of $500 in the case of a natural person or $1,500 in any other case may be imposed on a money-services business that, in contravention of

0.1°  section 21.1, does not return its licence or a copy of its licence or does not withdraw a decal;

1°  section 22, does not pay the fees determined by regulation;

2°  the first paragraph of section 22.1, does not display its licence, a copy of its licence or a decal in the manner provided for in that paragraph;

2.1°  the second paragraph of section 22.1, does not display its licence number in an application or on a website;

3°  section 26, has failed to inform the Minister of any change in the information already filed to obtain a licence;

4°  section 28, does not verify the identity of its customers or co-contracting parties;

5°  the first paragraph of section 29, does not maintain and update its records and registers;

6°  the second paragraph of section 29, does not make its records and registers available to the Minister;

7°  the third paragraph of section 29, does not provide the Minister with technical assistance to facilitate the Minister’s inspection of the information contained in its records and registers;

8°  section 30, does not keep the customer information it has on file for six years after the information is gathered;

9°  section 32, fails to provide, within the specified time, any information or document requested by the Minister;

10°  the first paragraph of section 34, does not notify the Minister of the cessation of its activities;

11°  the second paragraph of section 34, does not comply with the conditions determined by the Minister;

12°  section 35, has failed to hand its records, books and registers over to the Minister; or

13°  section 16 of the Regulation under the Money-Services Businesses Act (chapter E-12.000001, r. 1), does not keep the information on its co-contracting parties for six years after such information is gathered.

2020, c. 5, s. 64; 2023, c. 30, s. 53; 2024, c. 11, s. 201.

The paragraph 2.1 of this section was not in force on 7 December 2023; see 2024, c. 11, s. 201 (1).

2021-09-13

65.1. A monetary administrative penalty of $500 in the case of a natural person or $1,500 in any other case may be imposed on a money-services business that, in contravention of

1°  section 22, does not pay the fees determined by regulation;

2°  section 22.1, does not display its licence or a copy of its licence in the manner provided for in that section;

3°  section 26, has failed to inform the Minister of any change in the information already filed to obtain a licence;

4°  section 28, does not verify the identity of its customers or co-contracting parties;

5°  the first paragraph of section 29, does not maintain and update its records and registers;

6°  the second paragraph of section 29, does not make its records and registers available to the Minister;

7°  the third paragraph of section 29, does not provide the Minister with technical assistance to facilitate the Minister’s inspection of the information contained in its records and registers;

8°  section 30, does not keep the customer information it has on file for six years after the information is gathered;

9°  section 32, fails to provide, within the specified time, any information or document requested by the Minister;

10°  the first paragraph of section 34, does not notify the Minister of the cessation of its activities;

11°  the second paragraph of section 34, does not comply with the conditions determined by the Minister;

12°  section 35, has failed to hand its records, books and registers over to the Minister; or

13°  section 16 of the Regulation under the Money-Services Businesses Act (chapter E-12.000001, r. 1), does not keep the information on its co-contracting parties for six years after such information is gathered.

2020, c. 5, s. 64.