10 OCTOBER 2013 NEW ZEALAND GAZETTE, No. 140 3807

Internal Affairs

Anti-Money Laundering and Countering Financing of Terrorism Act 2009

Notice of Approval of Anti-Money Laundering and Countering Financing of Terrorism: Identity Verification Code of Practice Amendment 2013

Notice that the Ministers of Finance, Commerce and Internal Affairs hereby approve the Anti-Money Laundering and Countering Financing of Terrorism: Identity Verification Code of Practice Amendment 2013, pursuant to section 64 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 ("the Act").

The amended Code of Practice clarifies requirements for electronic identity verification following the implementation of the Electronic Identity Verification Act 2012 and the Identity Information Confirmation Act 2012 and reflects recent improvements in identity verification practice.

In preparing the amended Code of Practice, the Ministry of Justice, Reserve Bank of New Zealand, Financial Markets Authority and Department of Internal Affairs consulted with the public.

The amended Code of Practice is available for viewing and downloading at

www.rbnz.govt.nz
www.fma.govt.nz
www.dia.govt.nz

The amended Code of Practice shall come into force on 1 November 2013.

Dated at Wellington this 10th day of October 2013.

HON CHRIS TREMAIN, Minister of Internal Affairs.

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Justice

Anti-Money Laundering and Countering Financing of Terrorism Act 2009

Ministerial Exemptions Under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009

Ministerial Exemption: The New Zealand Lotteries Commission

1. As the Minister of Justice and pursuant to section 157 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 ("AML/CFT Act"), I exempt the New Zealand Lotteries Commission (NZLC) from all the provisions of Part 2 of the Act.

2. This exemption is subject to the following condition:

   The NZLC will continue to comply with the Financial Transactions Reporting Act 1996 ("FTRA") until either:

   (a) the date the second tranche comes into force; or

   (b) five years’ time (being the date on which this exemption expires);

   whichever date is the earlier.

3. This exemption has been made for the following reasons:

   (a) Cabinet explicitly agreed to include the NZLC in the second tranche of reform.

   (b) A Ministerial exemption was considered the best route for exclusion from the existing regime.

   (c) The exemption is a transitional exemption. In the meantime, the NZLC will continue to comply with the FTRA.

   (d) The provision of financial services by the NZLC is subject to existing accountability and transparency mechanisms.

4. This exemption comes into force on the day after the date this exemption is granted (granted 8 September 2013).

5. This exemption will expire on the earliest of the following dates:

   (a) The date the second tranche comes into force; or

   (b) 30 June 2018.

Ministerial Exemption: The New Zealand Racing Board

1. As the Minister of Justice, and pursuant to section 157 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 ("AML/CFT Act"), I exempt the New Zealand Racing Board (NZRB) from all the provisions of Part 2 of the Act.

2. This exemption is subject to the following condition:

   The NZRB will continue to comply with the Financial Transactions Reporting Act 1996 (FTRA) until either:

   (a) the date the second tranche comes into force; or

   (b) five years’ time (being the date on which this exemption expires);

   whichever date is the earlier.

3. This exemption has been made for the following reasons:

   (a) Cabinet explicitly agreed to include the NZRB in the second tranche of reform.

   (b) A Ministerial exemption was considered the best route for exclusion from the existing regime.

   (c) The exemption is a transitional exemption. In the meantime, the NZRB will continue to comply with the FTRA.

   (d) The provision of financial services by the NZRB will be subject to extensive accountability and transparency mechanisms.

4. This exemption comes into force on the day after the date this exemption is granted (granted 8 September 2013).

5. This exemption will expire on the earliest of the following dates:

   (a) The date the second tranche comes into force; or

   (b) 30 June 2018.

Any person wishing to provide comment on these notices should contact the Criminal Law Team at the Ministry of Justice website

international.crime@justice.govt.nz

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