Proceeds of Crime Act definition

Proceeds of Crime Act means the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada), as amended from time to time, and including all regulations thereunder.

Proceeds of Crime Act means the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada) and the regulations promulgated thereunder.

Proceeds of Crime Act the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada) (or any successor statute), as amended from time to time, and includes all regulations thereunder.

Examples of Proceeds of Crime Act in a sentence

• No member of the VL Group or any of its Subsidiaries shall engage in or conspire to engage in any transaction that has the purpose of evading or avoiding or any provision of the Proceeds of Crime Act that is applicable to its activities.

• No monies paid to or for the account of any party under the Transaction Document or any property received or disposed of by any party to the Transaction Document in each case in connection with the Transaction Document or the consummation of the transactions contemplated thereby represent or will represent proceeds of criminal conduct or criminal property or terrorist property (as defined in the Proceeds of Crime Act (As Revised) and the Terrorism Act (As Revised), respectively).

• The Act consolidates slavery and trafficking offenses and introduces tougher penalties and sentencing rules and ensures that the main offences are subject to the toughest asset recovery regime under the Proceeds of Crime Act 2002.

• Compliance with Money Laundering Regulations The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, The Proceeds of Crime Act 2002, the Senior Management Arrangements Systems & Controls Source book and Joint Money Laundering Steering Group guidance notes (which are updated from time to time) state that the ACD must verify the identity of Shareholders and the source of money invested.

• There are two reporting requirements in UK law, under the Terrorism Act 2000, which applies specifically to money or property related to terrorism, and the Proceeds of Crime Act 2002, which applies to all criminal property.

More Definitions of Proceeds of Crime Act

Proceeds of Crime Act means the Proceeds of Crime Act 2007;

Proceeds of Crime Act means the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada), and any regulations promulgated thereunder, if any, as the same may be amended from time to time.

Proceeds of Crime Act means the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, S.C. 2000, c. 17, as amended from time to time, and including all regulations thereunder.

Proceeds of Crime Act means the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada), including all regulations thereunder, as amended.

Proceeds of Crime Act means the Proceeds of Crime Act, Cap. 4.28;

Proceeds of Crime Act means the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada), as amended. “Projections” has the meaning assigned to such term in Section 3.06(b). “Protective Advance” has the meaning assigned to such term in Section 2.04. “Qualified Cash” means, as of any date of determination, the aggregate amount of unrestricted cash and Specified Cash Equivalents of the Loan Parties that is (i) in one or more deposit accounts or in securities accounts, or any combination thereof, each which such deposit account or securities account is, subject to Section 5.17, subject to a control agreement in form and substance reasonably satisfactory to Administrative Agent, and is maintained by a branch office of the bank or securities intermediary located within the United States or Canada or (ii) in an Excluded Account under clause (b) or (e) of the definition of “Excluded Accounts” in the U.S. Security Agreement or the Canadian Security Agreement, as applicable; provided, that Qualified Cash may include Credit Card Accounts, which, consistent with methodologies used as of the Closing Date, are reflected on the Loan Parties’ books and records as cash, solely for purposes of calculating the Consolidated Net Leverage Ratio but not, for the avoidance of doubt, for purposes of calculating Liquidity or for any other purpose under the Loan Documents. “Real Estate” means all leases and all land, together with the buildings, structures, parking areas, and other improvements thereon, now or hereafter owned by any Loan Party or any Restricted Subsidiary, as the context may require, including all easements, rights-of-way, and similar rights relating thereto and all leases, tenancies, and occupancies thereof. “Real Property Deliverables” means each of the following agreements, instruments and other documents in respect of each Material Real Property, each in form and substance reasonably satisfactory to the Administrative Agent: (a) a Mortgage duly executed by the applicable Loan Party; (b) evidence of the recording of each Mortgage in such office or offices as may be necessary or, in the reasonable opinion of the Administrative Agent, desirable to perfect the Lien purported to be created thereby or to otherwise protect the rights of the Administrative Agent and the Lenders thereunder; (c) a Title Insurance Policy or bring-down of the existing Title Insurance Policy with respect to each Mortgage, dated as of the Closing Date; (d) an existing ALTA survey together with a ...

Proceeds of Crime Act means the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada), including all regulations thereunder.