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: Capricorn Society Limited

1. As Associate Minister of Justice, and pursuant to section 157 of the Act, I exempt Capricorn Society Limited (Capricorn) from the following provisions of the Act:
1. sections 10 to 39;
2. sections 48A to 48C;
3. sections 49 to 51; and
4. sections 56 to 71.
2. This exemption is made subject to the following conditions:
   1. The exemption applies only to credit products offered by Capricorn with a maximum repayment term of up to four months.
   2. Capricorn must inform the Ministry of Justice of any changes that may affect the exemption or its conditions within 10 working days of the change occurring.
3. This exemption has been made for the following reasons:
   1. Capricorn provides short-term credit products only to members of its cooperative.
   2. Members are businesses in the automotive and allied sectors and must undergo commercial due diligence before accessing Capricorn’s services.
   3. The credit products covered by this exemption are limited to purchases from preferred suppliers and have a maximum repayment term of four months.
   4. Capricorn pays preferred suppliers directly through the New Zealand banking system and does not provide funds directly to members.
   5. Capricorn does not accept cash payments.
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.