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: Westpac 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 (AML/CFT) Act 2009 (“Act”), I exempt Westpac New Zealand Limited (WNZL) from sections 14(1)(d) and 49(2)(d) of the Act with respect to Westpac’s cash payment service made to Government entities where:
1. persons present a remittance or bill containing a unique barcode that holds payment reference information. These payments relate to taxes, fines, rates, utilities, levies, bonds, and similar obligations.
2. Payments are deposits which:
1. deposits made to government-managed trust accounts; or
2. deposits made by Government entities in the ordinary course of business, such as schools, local authorities, and law enforcement agencies.
2. The exemption is made subject to the following conditions:
1. The exemption only applies to cash payment transactions under NZD 10,000.
2. The exemption only applies to payments being made to Government entities, generally for bill payments.
3. WNZL must continue to monitor transactions and report suspicious activity in accordance with the Act, irrespective of the value of the transaction or whether the party to the transaction has been recorded.
4. All other aspects of the transaction must continue to be recorded and retained so that transactions can be identified and reconstructed if required.
5. WNZL must inform the Ministry of Justice of any changes that may affect the exemption and/or the conditions imposed by this written instrument within 10 working days from when the change affecting the exemption occurs.
3. The exemption has been granted because the risks of money laundering and terrorism financing (ML/TF) associated with WNZL are considered to be low for the following reasons:
1. The exemption only applies to cash payment transactions under NZD 10,000, which reduce the potential ML/TF risk.
2. Obligations to monitor transactions and report suspicious activity continue to apply, irrespective of the value of the transaction or whether the party to the transaction has been recorded.
3. The exemption only applies to payments made to Government entities, generally for bill payments.
4. The exemption supports financial inclusion, which is a priority for the Reserve Bank of New Zealand, a focus area for the Financial Action Task Force, and supports the purpose of the Act to contribute to public confidence in the financial system.
5. All other aspects of the transaction continue to be recorded and are available if required.
6. Many payments received by WNZL in the previous year were completed over the counter, allowing for human interaction which may assist in identifying potentially suspicious behaviour.
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 AML/CFT Team at the Ministry of Justice by emailing amlcft.exemptions@justice.govt.nz.