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: The Trustee of the Funeral Trust Limited and The Funeral Trust Services 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, I exempt The Trustee of the Funeral Trust Limited and the Funeral Trust Services Limited (“Funeral Trust Services”) from the following provisions of the Act:
1. Sections 10 to 71 (inclusive).
2. This exemption is made subject to the following conditions:
1. On the death of a participant the Funeral Trust Services conducts Standard Customer Due Diligence (CDD) in accordance with sections 15–17 of the Act on the payee (recipient distribution) unless payment is made:
1. To the funeral director charged with provision of the participant (deceased) funeral that is a member of FDANZ; or
2. To the estate of the participant (deceased) represented by a lawyer, The Public Trust or a trustee company incorporated under the Trustee Companies Act 1967; or
3. Pursuant to an order of the Court.
2. For all distributions, except where a distribution is made pursuant to an order of the Court:
1. Standard CDD is conducted in accordance with sections 15–17 of the Act for a distribution from the Trusts for significant financial hardship or permanent emigration of the participant on the person(s) who are the applicant/participant and anyone acting under an enduring power of attorney from them;
2. Enhanced CDD in accordance with sections 23–30 of the Act is conducted on the applicant and anyone acting under an enduring power of attorney for them, where a distribution is made to rectify a mistake in application or similar circumstances.
3. Levels of proof of emigration or significant financial hardships are required in a manner consistent with sections 11 and 14 of Schedule 1 of the KiwiSaver Act 2006;
4. Suspicious transaction reports are carried out in accordance with sections 39A to 48 and sections 49A and 52–55 of Subpart 2 of Part 2 of the Act.
5. The Trust must inform the Ministry of Justice of any changes that may affect the exemption and/or conditions imposed by this written instrument within 10 days from when the change affecting the exemption occurs.
3. This exemption has been granted for the following reasons:
1. All transactions are cashless.
2. All monies transferred into or out of the trust are handled digitally through registered New Zealand banks.
3. Distributions are only available from the trust in the limited circumstances.
4. This exemption comes into force on the day after the date I granted this exemption (17 February 2026).
5. This exemption will expire five years from the date it comes into force.

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