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Author: Admin | 2025-04-28
An entity other than a corporation or trust, such as a partnership. The ultimate beneficial owner(s) cannot be another corporation or entity; it must be the actual individual(s) who owns or controls the entity. (bénéficiaire effectif) BeneficiaryA beneficiary is the individual or entity that will benefit from a transaction or to which the final remittance is made. (bénéficiaire) BranchA branch is a part of your business at a distinct location other than your main office. (succursale) British Columbia notary corporationAn entity that carries on the business of providing notary services to the public in British Columbia in accordance with the Notaries Act, R.S.B.C. 1996, c. 334. (société de notaires de la Colombie-Britannique)Reference:PCMLTFR, SOR/2002-184, s. 1(2). British Columbia notary publicA person who is a member of the Society of Notaries Public of British Columbia. (notaire public de la Colombie-Britannique)Reference:PCMLTFR, SOR/2002-184, s. 1(2). CashCoins referred to in section 7 of the Currency Act, notes issued by the Bank of Canada under the Bank of Canada Act that are intended for circulation in Canada or coins or bank notes of countries other than Canada. (espèces)Reference:PCMLTFR, SOR/2002-184, s. 1(2) and PCMLTFSTRR, SOR/2001-317, s. 1(2). CasinoA government, organization, board or operator that is referred to in any of paragraphs 5(k) to (k.3) of the Act. (casino)Reference:PCMLTFR, SOR/2002-184, s 1(2) and PCMLTFSTRR, SOR/2001-317, s. 1(2). Certified translatorAn individual that holds the title of professional certified translator granted by a Canadian provincial or territorial association or body that is competent under Canadian provincial or territorial law to issue such certification. (traducteur agréé)Clarification requestA clarification request is a method used to communicate with money services businesses (MSBs) or foreign money services businesses (FMSBs) when FINTRAC needs more information about their registration form. This request is usually sent by email. (demande de précisions) ClientA person or entity that engages in a financial transaction with another person or entity. (client)Reference:PCMLTFA, S.C. 2000, c 17, s. 2(1). Client identification informationThe identifying information that you have obtained on your clients, such as name, address, telephone number, occupation or nature of principal business, and date of birth for an individual. (renseignements d'identification du client) Competent authorityFor the purpose of the criminal record check submitted with an application for registration, a competent authority is any person or organization that has the legally delegated or invested authority, capacity, or power to issue criminal record checks. (autorité compétente) Completed transactionIs a transaction conducted by a person or entity, that is completed and results in the movement of funds, virtual currency, or the purchase or sale of an asset. (opération effectuée)Completing actionWith respect to a reportable transaction, information related to the instructions provided by the person or entity making the request to the reporting entity to complete a transaction. For example, an individual arrives at a bank and requests to purchase a bank draft. The completing action is the details of how the reporting entity fulfilled the person or entity’s instructions which led to the transaction being completed. This includes what the funds or virtual currency initially
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