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: AIA New Zealand Limited

1. As the Associate Minister of Justice and pursuant to section 157 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT), I exempt AIA (NZ) Limited (AIA) from sections 10–71 of the Act with respect to AIA’s Corporate Solution Schemes with Profit Share.
2. The exemption is made subject to the following conditions:
1. The exemption only applies to the following financial product offered by AIA:
1. Corporate Solution Schemes with Profit Share (“Schemes”).
2. AIA 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. The exemption has been granted because the risks of money laundering and terrorism financing (ML/TF) associated with AIA are considered to be low for the following reasons:
1. The policy holder must be a verified employer with a minimum number of employees covered by the Schemes.
2. The Schemes have no surrender or investment component.
3. The amount paid out by the Schemes is less than the premiums paid by customers.
4. AIA has a low number of schemes with the profit share feature.
4. The exemption comes into force on 28 November 2025.
5. The exemption will expire on 28 November 2030.

Any person wishing to provide comment on this notice should contact the AML/CFT Team at the Ministry of Justice by emailing amlcft.exemptions@justice.govt.nz.