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(2)If subsection 53.6(1) of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, as enacted by section 181 of the Budget Implementation Act, 2021, No. 1, comes into force before or during the transition period, the 30-day period referred to in that subsection is, in relation to an application for registration that is submitted during the transition period, suspended until the end of the transition period.
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