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: Bay Financial Mentors – Tau Awhi Noa

1. As Associate Minister of Justice, and pursuant to section 157 of the Act, I exempt Bay Financial Mentors (BFM) from the following provisions of the Act:
1. Sections 10 to 71 (inclusive).
2. This exemption is made subject to the following conditions:
1. BFM remains a registered charity pursuant to the Charities Act 2005; and
2. BFM must inform the Ministry of Justice of any changes that may affect the exemption and/or conditions within 10 working days from when the change affecting the exemption occurs.
3. This exemption has been made for the following reasons:
   1. BFM manages funds from verifiable sources and as a result there is a low risk of funds from illegitimate sources co-mingled with the fund BFM manages.
   2. BFM manages low-value transactions.
   3. Transactions completed through BFM accounts requires dual authentication to action.
   4. The limited scope of BFM’s services, and their annual review, ensure that transactions are tracked to guarantee the services are being used for proper purpose.
4. Date made: 29 April 2026.
5. This exemption comes into force on 30 April 2026.
6. This exemption will expire on 30 April 2031.
7. This exemption is secondary legislation for the purposes of the Legislation Act 2019.

This secondary legislation can be accessed on the administering agency’s (the Ministry of Justice) website: https://www.justice.govt.nz/justice-sector-policy/key-initiatives/aml-cft/info-for-businesses/ministerial-exemptions/decisions/.

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.