In accordance with section 157(6)(b) of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“the Act”), the Minister of Justice hereby gives notice that she has granted the following exemptions from the Act:

Ministerial exemption: New Zealand Universities’ Superannuation Scheme

1. In my capacity as the Minister of Justice and pursuant to section 157 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“the Act”) I exempt the trustees of the New Zealand Universities’ Superannuation Scheme (“the Scheme”), from the provisions of Part 2 of the Act in relation to services provided as trustees of the Scheme.
2. The exemption is granted subject to the following conditions:
1. Subject to paragraphs 2 and 3, the trustees are required to remove any mechanisms contained in the Scheme’s Trust Deed that enable members to contribute to the Scheme voluntarily other than through payroll. This includes the ability of the trustees to accept contributions in any form, in their absolute discretion.
2. The Scheme must remain a registered superannuation scheme as defined under the Superannuation Schemes Act 1989, or a registered scheme under the Financial Markets Conduct Act 2013, as applicable.
3. With the exception of Australian superannuation transfers to the Scheme (if applicable), customer due diligence in accordance with sections 10–36 of the Act and suspicious transaction reports in accordance with sections 40–48 of the Act and, where the transaction is relevant to a suspicious transaction report, transaction records in accordance with section 49(1) and (2)(a)–(f) of the Act are required on all transfers to the Scheme from international sources.
3. The Trust Deed may permit voluntary contributions made other than through payroll to those sections of the Scheme which are subject to restrictions set out in the complying fund rules (as defined in section YA 1 of the Income Tax Act 2007), provided there is a cap on any non-payroll voluntary contribution. The cap should be set at the amount (after taking into account any contribution through payroll) required to enable a member to maximise those government contributions set out in section MK 4 of the Income Tax Act 2007.
4. The Trust Deed for the Scheme may permit contributions to be made to the Scheme other than through payroll by a member during a permitted period of unpaid leave of absence (Regular Leave of Absence Contributions) where:
1. the employer or the Scheme’s administrator collects those contributions; and
2. the contributions do not exceed (as to either amount or frequency) the contributions that were being paid by the relevant member in accordance with the Trust Deed for the Scheme immediately prior to the member commencing leave of absence.
5. Where any Regular Leave of Absence Contributions are received from international sources during the permitted period of unpaid leave of absence, the following sections of the Act apply to such contributions:
1. Sections 10–17 of the Act (and for the purposes of section 14(d) of the Act the receipt of a contribution from an international source is specified as a circumstance in which standard customer due diligence must be conducted);
2. sections 40–48 of the Act;
3. where the transaction is relevant to a suspicious transaction report, sections 49(1) and 2(a)–(f) of the Act; and
4. sections 92–100 of the Act.
6. Where any withdrawals are made by a member in addition to that member making Regular Leave of Absence Contributions during the permitted period of unpaid leave of absence, the following sections of the Act apply to such withdrawals and contributions:
1. Sections 10–17 of the Act (and for the purposes of section 14(d) of the Act the first such withdrawal is specified as a circumstance in which standard customer due diligence must be conducted);
2. sections 40–48 of the Act;
3. where the transaction is relevant to a suspicious transaction report, section 49(1) and (2)(a)–(f) of the Act; and
4. sections 92–100 of the Act.
7. The exemption has been granted for the following reasons:
1. The trustees’ only duties as a reporting entity under the Act are in respect of the Scheme;
2. the Scheme poses a very low risk of money laundering or terrorism financing;
3. any risks posed by voluntary contributions outside of payroll have been addressed by the conditions;
4. due to the very low money laundering and terrorism financing risks raised by the Scheme and the significant compliance costs that would arise from not granting this exemption, I consider that any benefits of requiring compliance with the Act are not justified by the associated costs; and
5. this exemption is consistent with (and has no effect on the purpose or intent of) the Act, the Financial Transactions Reporting Act 1996 and New Zealand’s international obligations as a member of the Financial Action Taskforce and the Asia Pacific Group on Money Laundering.
8. This exemption came into force on the day after the date I granted this exemption (28 January 2015).
9. This exemption will expire on 30 June 2018.

Ministerial exemption: The Nelson Angel Women’s Loan Fund

1. As the Minister of Justice, and pursuant to section 157 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“the Act”), I exempt the Nelson Angel Women’s Loan Fund (“the Fund”) from all provisions of the Act.
2. This exemption has been made for the following reasons:
1. The Fund is a not for profit organisation that charges no interest, nor pays any interest on the funds loaned to customers or managed for investors or customers.
2. The Fund offers a community service that seeks to assist low-income women to gain financial independence.
3. The Fund offers defined and limited services to specific customers with processes that confirm the purpose for which loans provided will be used.
4. The granting of this exemption is not inconsistent with the purpose or intent of the Act or the Financial Transactions Reporting Act 1996 or New Zealand’s international obligations as a member of the Financial Action Taskforce and the Asia Pacific Group on Money Laundering.
3. This exemption came into force on the day after the date I granted this exemption (28 January 2015).
4. This exemption will expire on 30 June 2018.

Ministerial exemption: Meat Industry Superannuation Scheme

1. In my capacity as the Minister of Justice and pursuant to section 157 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“the Act”) I exempt the trustees of the Meat Industry Superannuation Scheme ("the Scheme"), from the provisions of Part 2 of the Act in relation to services provided as trustees of the Scheme.
2. This exemption is subject to the following conditions:
1. Subject to paragraphs 3 and 4 below, the Scheme must prohibit any mechanism in the Trust Deed for the Scheme that would enable members to contribute to the Scheme voluntarily other than through payroll.
2. The Scheme must remain a registered superannuation scheme as defined under the Superannuation Schemes Act 1989 or registered under the Financial Markets Conduct Act 2013 as applicable.
3. With the exception of Australian superannuation transfers to the Scheme (if applicable), customer due diligence in accordance with sections 10–36 of the Act and suspicious transaction reports in accordance with sections 40–48 of the Act and, where the transaction is relevant to a suspicious transaction report, transaction records in accordance with section 49(1) and (2)(a)–(f) of the Act are required on all contributions and transfers to the Scheme from international sources.
3. The Trust Deed may permit:
1. voluntary contributions made other than through payroll where the Scheme is subject to restrictions set out in the complying superannuation Scheme rules provided there is a cap on the amount of any non-payroll voluntary contributions made in each year (calculated in accordance with MK 4 of the Income Tax Act 2007). The cap should be set at the amount (after taking into account any contribution through payroll) required to enable a member to maximise, in respect of that year, those government contributions set out in section MK 4 of the Income Tax Act 2007; and
2. voluntary contributions made other than through payroll for the purpose of purchasing additional pensionable service, provided that the Scheme undertakes enhanced customer due diligence on every member who applies to purchase service by making such contributions.
4. The Trust Deed for the Scheme may permit contributions to be made other than through payroll by a member to the Scheme during a permitted period of unpaid leave of absence (Regular Leave of Absence Contributions) where:
1. the employer or the Scheme’s administrator collects those contributions; and
2. the contributions do not exceed (as to either amount or frequency) the contributions that were being paid by the relevant member in accordance with the trust deed for the Scheme immediately prior to the member commencing leave of absence; and
3. where any member contributions are received from international sources, or any withdrawals are made by a member in addition to making any contributions during the period of unpaid leave of absence, the provisions of the Act relating to customer due diligence and suspicious transaction reporting apply where applicable.
5. Where any Regular Leave of Absence Contributions are received from international sources during the permitted period of unpaid leave of absence, the following sections of the Act apply to such contributions:
1. Sections 10–18 of the Act (and for the purposes of section 14(d) of the Act the receipt of a contribution from an international source is specified as a circumstance in which standard customer due diligence must be conducted);
2. sections 40–48 of the Act;
3. where the transaction is relevant to a suspicious transaction report, sections 49(1) and 2(a)–(f) of the Act; and
4. sections 92–100 of the Act.
6. Where any withdrawals are made by a member in addition to that member making Regular Leave of Absence Contributions during the permitted period of unpaid leave of absence the following sections of the Act apply to such withdrawals and contributions:
1. sections 10–18 of the Act (and for the purposes of section 14(d) of the Act the first such withdrawal is specified as a circumstance in which standard customer due diligence must be conducted);
2. sections 40–48 of the Act;
3. where the transaction is relevant to a suspicious transaction report, section 49(1) and (2)(a)–(f) of the Act; and
4. sections 92–100 of the Act.
7. The exemption has been granted for the following reasons:
1. The trustees’ only duties as a reporting entity under the Act are in respect of the Scheme;
2. the Scheme poses a very low risk of money laundering or terrorism financing;
3. any risks posed by voluntary contributions outside of payroll have been addressed by the conditions;
4. due to the very low money laundering and terrorism financing risks raised by the Scheme and the significant compliance costs that would arise from not granting this exemption, I consider that any benefits of requiring compliance with the Act are not justified by the associated costs; and
5. this exemption is consistent with (and has no effect on the purpose or intent of) the Act, the Financial Transactions Reporting Act 1996 and New Zealand’s international obligations as a member of the Financial Action Taskforce and the Asia Pacific Group on Money Laundering.
8. This exemption came into force on the day after the date I granted this exemption (28 January 2015).
9. This exemption will expire on 30 June 2018.

Ministerial exemption: Works Superannuation Scheme

1. In my capacity as the Minister of Justice and pursuant to section 157 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“the Act”) I exempt the trustees of the Works Superannuation Scheme (“the Scheme”), from the provisions of Part 2 of the Act in relation to services provided as trustees of the Scheme.
2. The exemption is granted subject to the following conditions:
1. Subject to paragraphs 3 and 4, the trustees are required to remove any mechanisms contained in the Scheme’s Trust Deed that enable members to contribute to the Scheme voluntarily other than through payroll. This includes the ability of the trustees to accept contributions in any form, in their absolute discretion.
2. The Scheme must remain a registered superannuation scheme as defined under the Superannuation Schemes Act 1989 or registered under the Financial Markets Conduct Act 2013 as applicable.
3. With the exception of Australian superannuation transfers to the Scheme (if applicable), customer due diligence in accordance with sections 10–36 of the Act and suspicious transaction reports in accordance with sections 40–48 of the Act and, where the transaction is relevant to a suspicious transaction report, transaction records in accordance with section 49(1) and (2)(a)–(f) of the Act are required on all transfers to the Scheme from international sources.
3. The Trust Deed for the Scheme may permit contributions to be made to the Scheme other than through payroll by a member during a permitted period of unpaid leave of absence (Regular Leave of Absence Contributions) where:
1. the employer or the Scheme’s administrator collects those contributions; and
2. the contributions do not exceed (as to either amount or frequency) the contributions that were being paid by the relevant member in accordance with the Trust Deed for the Scheme immediately prior to the member commencing leave of absence.
4. Where any Regular Leave of Absence Contributions are received from international sources during the permitted period of unpaid leave of absence, the following sections of the Act apply to such contributions:
1. Sections 10–17 of the Act (and for the purposes of section 14(d) of the Act the receipt of a contribution from an international source is specified as a circumstance in which standard customer due diligence must be conducted);
2. sections 40–48 of the Act;
3. where the transaction is relevant to a suspicious transaction report, sections 49(1) and 2(a)–(f) of the Act; and
4. sections 92–100 of the Act.
5. Where any withdrawals are made by a member in addition to that member making Regular Leave of Absence Contributions during the permitted period of unpaid leave of absence the following sections of the Act apply to such withdrawals and contributions:
1. Sections 10–17 of the Act (and for the purposes of section 14(d) of the Act the first such withdrawal is specified as a circumstance in which standard customer due diligence must be conducted);
2. sections 40–48 of the Act;
3. where the transaction is relevant to a suspicious transaction report, section 49(1) and (2)(a)–(f) of the Act; and
4. sections 92–100 of the Act.
6. The exemption has been granted for the following reasons:
1. The trustees’ only duties as a reporting entity under the Act are in respect of the Scheme;
2. the Scheme poses a very low risk of money laundering or terrorism financing;
3. any risks posed by voluntary contributions outside of payroll have been addressed by the conditions;
4. due to the very low money laundering and terrorism financing risks raised by the Scheme and the significant compliance costs that would arise from not granting this exemption, I consider that any benefits of requiring compliance with the Act are not justified by the associated costs; and
5. this exemption is consistent with (and has no effect on the purpose or intent of) the Act, the Financial Transactions Reporting Act 1996 and New Zealand’s international obligations as a member of the Financial Action Taskforce and the Asia Pacific Group on Money Laundering.
7. This exemption came into force on the day after the date I granted this exemption (28 January 2015).
8. This exemption will expire on 30 June 2018.

Ministerial exemption: The Reformed Churches of New Zealand Emeritus Fund

1. In my capacity as the Minister of Justice and pursuant to section 157 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“the Act”) I exempt the trustees of the Reformed Churches of New Zealand Emeritus Fund (“the Fund”), from the provisions of Part 2 of the Act in relation to services provided as trustees of the Fund.
2. This exemption is subject to the following conditions:
1. Subject to paragraphs 3 and 4 below, the Fund must prohibit any mechanism in the Trust Deed for the Fund that would enable members to contribute to the Fund voluntarily other than through payroll.
2. The Fund must remain a registered superannuation scheme as defined under the Superannuation Schemes Act 1989 or registered under the Financial Markets Conduct Act 2013 as applicable.
3. With the exception of Australian superannuation transfers to the Fund (if applicable), customer due diligence in accordance with sections 10–36 of the Act and suspicious transaction reports in accordance with sections 40–48 of the Act and, where the transaction is relevant to a suspicious transaction report, transaction records in accordance with section 49(1) and (2)(a)–(f) of the Act are required on all contributions and transfers to the Fund from international sources.
3. The Trust Deed may permit:
1. voluntary contributions made other than through payroll where the Fund is subject to restrictions set out in the complying superannuation fund rules provided there is a cap on the amount of any non-payroll voluntary contributions made in each year (calculated in accordance with MK 4 of the Income Tax Act 2007). The cap should be set at the amount (after taking into account any contribution through payroll) required to enable a member to maximise, in respect of that year, those government contributions set out in section MK 4 of the Income Tax Act 2007; and
2. voluntary contributions made other than through payroll for the purpose of purchasing additional pensionable service, provided that the Fund undertakes enhanced customer due diligence on every member who applies to purchase service by making such contributions.
4. The Trust Deed for the Fund may permit contributions to be made other than through payroll by a member to the Fund during a permitted period of unpaid leave of absence (Regular Leave of Absence Contributions) where:
1. the employer or the Fund’s administrator collects those contributions; and
2. the contributions do not exceed (as to either amount or frequency) the contributions that were being paid by the relevant member in accordance with the trust deed for the Fund immediately prior to the member commencing leave of absence.
3. where any member contributions are received from international sources, or any withdrawals are made by a member in addition to making any contributions during the period of unpaid leave of absence, the provisions of the Act relating to customer due diligence and suspicious transaction reporting apply where applicable.
5. Where any Regular Leave of Absence Contributions are received from international sources during the permitted period of unpaid leave of absence, the following sections of the Act apply to such contributions:
1. Sections 10–18 of the Act (and for the purposes of section 14(d) of the Act the receipt of a contribution from an international source is specified as a circumstance in which standard customer due diligence must be conducted);
2. sections 40–48 of the Act;
3. where the transaction is relevant to a suspicious transaction report, sections 49(1) and 2(a)–(f) of the Act; and
4. sections 92–100 of the Act.
6. Where any withdrawals are made by a member in addition to that member making Regular Leave of Absence Contributions during the permitted period of unpaid leave of absence the following sections of the Act apply to such withdrawals and contributions:
1. Sections 10–18 of the Act (and for the purposes of section 14(d) of the Act the first such withdrawal is specified as a circumstance in which standard customer due diligence must be conducted);
2. sections 40–48 of the Act;
3. where the transaction is relevant to a suspicious transaction report, section 49(1) and (2)(a)–(f) of the Act; and
4. sections 92–100 of the Act.
7. The exemption has been granted for the following reasons:
1. The trustees’ only duties as a reporting entity under the Act are in respect of the Fund;
2. the Fund poses a very low risk of money laundering or terrorism financing;
3. any risks posed by voluntary contributions outside of payroll have been addressed by the conditions;
4. due to the very low money laundering and terrorism financing risks raised by the Fund and the significant compliance costs that would arise from not granting this exemption, I consider that any benefits of requiring compliance with the Act are not justified by the associated costs; and
5. this exemption is consistent with (and has no effect on the purpose or intent of) the Act, the Financial Transactions Reporting Act 1996 and New Zealand’s international obligations as a member of the Financial Action Taskforce and the Asia Pacific Group on Money Laundering.
8. This exemption came into force on the day after the date I granted this exemption (28 January 2015).
9. This exemption will expire on 30 June 2018.

Any person wishing to provide comment on these notices should contact the Criminal Law Team at the Ministry of Justice: international.crime@justice.govt.nz