Notice Type
Notice Title

Ministerial Exemptions Under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009

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

Ministerial Exemption: Foodstuffs North Island Limited

  1. In my capacity as the Associate Minister of Justice, and pursuant to section 157 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, I exempt Foodstuffs North Island Limited (FSNI) from the following provisions of the Act:
    1. Sections 10–39 inclusive; and
    2. sections 49–71 inclusive.
  2. For the avoidance of doubt, FSNI must comply with:
    1. Sections 40–48(c) of the Act: suspicious transaction reporting; and
    2. sections 92–100 of the Act: related offences.
  3. This exemption is made subject to the following conditions:
    1. FSNI has a 60-day period from the date of this exemption notice to comply with subpart 2 of Part 2 of the Act.
    2. FSNI must inform the Ministry of Justice of any changes that may affect the exemption and/or conditions imposed by this written instrument within 14 days from when the change affecting the exemption occurs.
  4. This exemption has been made for the following reasons:
    1. There is a low risk of money laundering and terrorist financing through FSNI as:
      1. FSNI only provides loans and guarantees to its members who are subject to a strict approval process and continuous monitoring thereafter;
      2. all funds loaned by FSNI must be applied directly to purchase a Foodstuffs franchise business;
      3. the trading accounts FSNI operates for its members can only be used to purchase groceries and merchandise to be sold through a Foodstuffs franchise business;
      4. the cost of compliance is considered too burdensome in relation to the level of risk posed by the applicant; and
      5. consistency with: the purpose 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.
  5. This exemption comes into force on the day after the date I grant this exemption.
  6. This exemption will expire on 30 June 2020.

    Any person wishing to provide comment on this notice should contact the Criminal Law Team at the Ministry of Justice by emailing