In accordance with section 159(3) of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 ("AML/CFT Act"), the Minister of Justice hereby gives notice that she has granted the following exemptions from the AML/CFT Act:
Ministerial Exemption: Accident Compensation Corporation
1. As the Minister of Justice, and pursuant to section 157 of the AML/CFT Act, I exempt the Accident Compensation Corporation from all the provisions of the AML/CFT Act.
2. This exemption is not subject to any conditions.
3. This exemption will come into force on 30 June 2013.
4. This exemption will expire on 30 June 2018.
Ministerial Exemption: Earthquake Commission
1. As the Minister of Justice, and pursuant to section 157 of the AML/CFT Act, I exempt the Earthquake Commission from all the provisions of the AML/CFT Act.
2. This exemption is not subject to any conditions.
3. This exemption will come into force on 30 June 2013.
4. This exemption will expire on 30 June 2018.
Ministerial Exemption: NZCEO Finance Limited
1. As the Minister of Justice, and pursuant to section 157 of the AML/CFT Act, I exempt NZCEO Finance Limited from all the provisions of the AML/CFT Act.
2. This exemption is not subject to any conditions.
3. This exemption will come into force on 30 June 2013.
4. This exemption will expire on 30 June 2018.
Ministerial Exemption: The Lloyd Morgan Lions Clubs Charitable Trust
1. As the Minister of Justice, and pursuant to section 157 of the AML/CFT Act, I exempt The Lloyd Morgan Lions Clubs Charitable Trust from all the provisions of the AML/CFT Act.
2. This exemption is not subject to any conditions.
3. This exemption will come into force on 30 June 2013.
4. This exemption will expire on 30 June 2018.
Ministerial Exemption: The Trustee Corporations Association of New Zealand Inc.
1. As the Minister of Justice, and pursuant to section 157 of the AML/CFT Act, I exempt statutory supervisors
of retirement villages from sections 11 to 31 of the AML/CFT Act for services provided in relation to repayable funds accepted in accordance with the Retirement Villages Act 2003 ("RV Act").
2. This exemption is made subject to the following conditions:
(a) A statutory supervisor is required, in accordance with sections 14 to 17 of the AML/CFT Act, to undertake standard customer due diligence on the recipient of any refunded monies when:
(i) an Occupation Right Agreement is cancelled in accordance with section 29(2) of the RV Act and,
(ii) the statutory supervisor is required to refund money over the threshold value of $9,999.99.
3. This exemption will come into force on 30 June 2013.
4. This exemption will expire on 30 June 2018.
Any person wishing to provide comment on these proposals should contact:
Ben Wakely
Criminal Law Team
Ministry of Justice
DX SX10088
Wellington.
Telephone: (04) 918 8584.
Email: ben.wakely@justice.govt.nz