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Article 17 Offences

Original text. Later amendments are not shown.

(1)

A paying agent or receiving agent who fails to comply with a requirement imposed under or paragraph (1) or (2) of article 16 shall be guilty of an offence and liable upon summary conviction to a fine not exceeding $8,000.

(2)

A paying agent or receiving agent who fails to take all reasonable steps—

(a)

to establish the identity and residence of a relevant payee, or

(b)

to verify the name, address and residence of a relevant payee as required by article 9,

shall be guilty of an offence and liable upon summary conviction to a fine not exceeding $3,000.