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

Ministerial Exemption: Feijoa Kiwi Limited

1. As the Associate Minister of Justice, and pursuant to section 157 of Act, I exempt Feijoa Kiwi Limited (FKL) from:

(a) sections 10–39, 48A–48C, and 50–71 of the Act in relation to the operation of the Kiwisaver Incentive Platform (“Platform”).

2. This exemption is made subject to the following conditions:

1. FKL must report suspicious activities in accordance with sections 39A–48 of the Act and keep the reports for five years in accordance with section 49(A) of the Act.
2. FKL is required to complete the relevant level of customer due diligence prescribed by the Act in respect of any suspicious activity report.
3. FKL must hold and maintain evidence of payments made through its payment system for five years in accordance with section 49 of the Act.
4. The total aggregate amount of one-off payments to the Platform made by an individual user in any consecutive 12-month period must not exceed $10,000.
5. FKL must inform the Ministry of Justice of any changes that may affect the exemption and/or conditions imposed by this written instrument within 10 working days from which the change affecting the exemptions occurs.

3. This exemption has been made for the following reasons:

1. There is a narrow scope of captured activity. FKL’s captured activity is related to a payment management service for users where payments are transferred to Inland Revenue to be deposited into nominated KiwiSaver accounts.
2. Overpayments or incorrect payments can only be repaid to the User or into the KiwiSaver account of the Beneficiary.
3. Beneficiaries must be registered for Kiwisaver and are subject to customer due diligence through their Kiwisaver provider.
4. There is a limit on one-off payments made by individual users through the Platform in a consecutive 12-month period.
5. FKL remains subject to suspicious activity monitoring, reporting and associated record keeping obligations of the Act.

4. This exemption comes into force on 11 July 2025.

5. This exemption will expire on 11 July 2030.

Any person wishing to provide comment on this notice should contact the Anti-Money Laundering and Countering Financing of Terrorism Team at the Ministry of Justice by emailing amlcft.exemptions@justice.govt.nz.