E-12.000001 - Money-Services Businesses Act

Section 12 Disposition versions

2021-12-10

12. The Minister 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;

(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;

(4)  has repeatedly failed to send a return or a report in the manner and within the time provided for by a fiscal law or a regulation under a fiscal law;

(5)  has repeatedly failed to deduct, withhold or collect an amount that it was required to deduct, withhold or collect under a fiscal law;

(6)  has repeatedly failed to pay an amount owed under this Act or a fiscal law;

(7)  has repeatedly failed to comply with an agreement entered into for the payment of an amount owed under this Act or a fiscal law;

(8)  is liable to a penalty under section 1079.13.1 or 1079.13.2 of the Taxation Act (chapter I-3) in relation to an assessment in respect of which any time limit for objecting has expired or, if the business validly objected to the assessment, filed a contestation regarding the assessment or initiated an appeal from the assessment to a court of competent jurisdiction, in respect of which the objection, contestation or appeal, as the case may be, is finally settled; or

(9)  has repeatedly evaded or attempted to evade compliance with this Act or a fiscal law in the course of its business.

2010, c. 40, Sch. I, s. 12; 2013, c. 18, s. 73; 2018, c. 23, s. 811; 2020, c. 5, s. 38; 2021, c. 36, s. 33.

2021-09-13

12. The Minister 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;

(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;

(4)  has repeatedly failed to send a return or a report in the manner and within the time provided for by a fiscal law or a regulation under a fiscal law;

(5)  has repeatedly failed to deduct, withhold or collect an amount that it was required to deduct, withhold or collect under a fiscal law;

(6)  has repeatedly failed to pay an amount owed under this Act or a fiscal law;

(7)  has repeatedly failed to comply with an agreement entered into for the payment of an amount owed under this Act or a fiscal law;

(8)  is liable to a penalty under section 1079.13.1 or 1079.13.2 of the Taxation Act (chapter I-3) in relation to an assessment in respect of which any time limit for objecting has expired or, if the business validly objected to the assessment or appealed from the assessment to a court of competent jurisdiction, in respect of which the objection or appeal, as the case may be, is finally settled; or

(9)  has repeatedly evaded or attempted to evade compliance with this Act or a fiscal law in the course of its business.

2010, c. 40, Sch. I, s. 12; 2013, c. 18, s. 73; 2018, c. 23, s. 811; 2020, c. 5, s. 38.

2018-07-13

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.

2013-06-14

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.

2012-04-01

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.