Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

17 Subject to section 20.2 and subsection 52(1), every life insurance company or life insurance broker or agent who receives from a client an amount in cash of $10,000 or more in the course of a single transaction shall report the transaction to the Centre, together with the information referred to in Schedule 1, except

• (a) if the amount is received from a financial entity or a public body; or

• (b) in respect of transactions referred to in subsection 62(2).