What are the designated services relating to loan/loan guarantee services?
This section discusses loans and loan guarantee services in the context of items 6, 7, 48 and 49 in table 1 of the AML/CTF Act, as shown in the following table. Under the AML/CTF Act, making a loan, allowing the borrower to conduct transactions in relation to a loan, and guaranteeing a loan constitute designated services, irrespective of the loan value involved, but are subject to the qualifications set out in the definition of the relevant designated services.
Related Questions
- Are there restrictions in the Loan Guarantee Program for projects that are expected to be supported by, or provide goods or services to, other Federal entities?
- What are the designated services relating to superannuation and approved deposit funds?
- What are the designated services relating to currency exchange?
