Notification of change in significant owners

(1) A registered DNFBP shall provide the supervisory authority with written notice of any change in its significant owners, whether as a result of a person becoming a significant owner or ceasing to be a significant owner. (2) A written notice under subregulation (1) shall– (a) specify the date of the change; (b) provide details of the identity of the new or former significant owner and the nature of the significant owner’s interest in, or control of, the DNFBP; (c) be provided to the supervisory authority within 14 days of the DNFBP first becoming aware of the change. Money Laundering and Terrorism (Prevention) 23 (3) A registered DNFBP that fails to provide written notice of a change in its significant owners in accordance with this regulation commits an offence and is liable on summary conviction to a fine not exceeding $20,000.