In accordance with section 157(6)(b) of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, the Associate Minister of Justice hereby gives notice that he has granted the following exemption from the Act.
Ministerial exemption: The Bishop of the Roman Catholic Diocese of Dunedin, a corporation sole pursuant to the Roman Catholic Bishops Empowering Act 1997 (Bishop), also referred to as the Diocese of Dunedin (CC31793).
- As the Associate Minister of Justice, and pursuant to section 157 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“Act”), I exempt the Bishop of the Roman Catholic Diocese of Dunedin, a corporation sole pursuant to the Roman Catholic Bishops Empowering Act 1997 (“Bishop”), also referred to as the Diocese of Dunedin, from the following provisions of the Act:
- Sections 10–71 (inclusive).
- This exemption only applies to services provided by the Diocese of Dunedin via the Catholic Development Fund (CDF) to parishes, Churches, schools, chaplaincies and other entities under the common control of the Diocese of Dunedin (within the definition of clause 48 of Schedule 1 of the Financial Markets Conduct Act 2013) and within the Diocese of Dunedin (“Church entities”).
- This exemption is made subject to the following conditions:
- the CDF can only accept deposits from Church entities;
- the Diocese of Dunedin remains a registered charity pursuant to the Charities Act 2005;
- the Diocese of Dunedin remains a corporation sole pursuant to the Roman Catholic Bishops Empowering Act 1997; and
- the Diocese of Dunedin 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.
- This exemption has been made for the following reasons:
- there is a low risk of money laundering and terrorist financing through the Diocese of Dunedin. This is because the Diocese of Dunedin, through the CDF, only conducts financial activities for the restricted purpose of providing pastoral, charitable, and religious education services to parishioners and school students;
- the Diocese of Dunedin only conducts financial activities with other Church entities within the Diocese. When entities provide services for a related entity (which is effectively part of itself), there is low money laundering and financing of terrorism risk;
- the Diocese of Dunedin only operates in New Zealand and does not conduct transactions or activities in overseas regions, which exposes it to money laundering and terrorist activity;
- the Diocese of Dunedin, through the CDF, generates income from the earnings of its reserves, any grants received, and through donations and bequests. Donations and grants cannot be returned to their original donors, unless they are subject to restrictions. The Diocese of Dunedin does not accept any deposits from the public; and
- due to the low money laundering and terrorism financing risk associated with the Diocese of Dunedin and the significant compliance costs to the Diocese of Dunedin 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.
- This exemption came into force on 7 February 2018.
- This exemption will expire on 30 November 2022.
Any person wishing to provide comment on this notice should contact the Criminal Law Team at the Ministry of Justice by emailing firstname.lastname@example.org.