Bill 8 explained in plain English
Anti-Money Laundering in Housing Act, 2022
Ontario legislature bill summary, status, timeline, sponsor, votes, and official sources.
At a glance
Official Legislative Assembly of Ontario snapshot for 43rd Parliament, 1st Session. Representative vote breakdowns appear when the Assembly publishes an Ayes and Nays page for the bill.
Our plain-language take, written for civic education.
Source: By PoliticalData.ca
The Anti-Money Laundering in Housing Act, 2022 requires the Minister of Municipal Affairs and Housing to develop and implement a plan for a public registry of beneficial property owners in Ontario.
This bill enacts the Anti-Money Laundering in Housing Act, 2022. It requires the Minister of Municipal Affairs and Housing to create a plan for a public registry of beneficial property owners. This registry will require corporations, trusts, and partnerships that own real property to disclose their individual owners. The Act outlines what the plan must include, such as steps for establishing the registry, timelines, and stakeholder consultations. It also requires the Minister to report on the progress of the plan and the establishment of the registry. The Act comes into force on the day it receives Royal Assent.
- Enacts the Anti-Money Laundering in Housing Act, 2022.
- Requires the Minister of Municipal Affairs and Housing to develop and implement a land owner transparency plan.
- Specifies that the land owner transparency plan must establish a public registry of beneficial property owners.
- Requires corporations, trusts, and partnerships that own real property to disclose individual owners.
- Details the required content of the land owner transparency plan, including steps for establishing the registry, timelines, and stakeholder consultations.
- Requires the Minister to prepare and table a progress report on the plan in the Legislative Assembly.
- States that the Act comes into force on the day it receives Royal Assent.
- The Minister of Municipal Affairs and Housing.
- Corporations, trusts, and partnerships that own real property in Ontario.
- Individual owners of beneficial property interests.
- The Legislative Assembly of Ontario.
- Stakeholders in the real estate industry, including the Ontario Real Estate Association and Transparency International Canada.
- The Minister is obligated to develop and implement a land owner transparency plan within six months of the Act coming into force.
- The Minister is obligated to establish the public registry within one year after the plan is developed.
- The Minister is obligated to publish the plan on a Government of Ontario website.
- The Minister is obligated to prepare and table a progress report within six months after the plan is developed.
- Corporations, trusts, and partnerships owning real property are obligated to disclose individual owners through the public registry.
- Individuals have the right to access the public registry of beneficial property owners.
- The Act comes into force on the day it receives Royal Assent.
- The Minister shall develop and implement the land owner transparency plan within six months after the Act comes into force.
- The Minister shall establish the public registry within one year after the plan is developed.
- The Minister shall prepare a progress report within six months after the land owner transparency plan is developed.
- The specific details of the 'land owner transparency plan' are to be developed by the Minister, with requirements for content but not the final form.
- The Act does not specify any penalties for non-compliance with the disclosure requirements.
- The definition of 'Minister' can be changed under the Executive Council Act, potentially assigning administration of this Act to another member of the Executive Council.
- The Act does not detail how the registry will be maintained or updated after its establishment.
- The Act does not specify the exact format or accessibility of the public registry beyond being published on a Government of Ontario website.
Establishes a new Act concerning money laundering in housing by requiring a public registry of beneficial property owners.
Source: Section 6
May be implicitly affected as the definition of 'Minister' can be changed under this Act to assign administration of the Anti-Money Laundering in Housing Act to a different member of the Executive Council.
Source: Section 1
Generated using AI from official bill text. Not legal advice. It is written by PoliticalData.ca for civic education, automatically checked and spot-reviewed before publishing.
Official textProcess Snapshot
Vote Summary
This bill is still active. We only show vote counts after the legislature publishes a recorded division.
No published representative vote breakdown
This bill is still moving through the process. When a recorded division is published, representative positions can be listed here.
Official sources
Status, sponsor, votes, and timeline on this page are drawn from these official legislative sources and public records. Each summary above is attributed to its own source.
How this data is sourced