4482 NEW ZEALAND GAZETTE, No. 162 5 DECEMBER 2013

(iv) Crown Asset Management Limited is required to make distributions to its shareholders on a quarterly basis;

(v) Crown Asset Management Limited’s purpose, to acquire assets from six companies and obtain the best return for the Crown, is intended to be concluded by 30 June 2014; and

(vi) Financial Transactions Reporting Act 1996 obligations, specifically suspicious transaction reporting, will apply to Crown Asset Management Limited and its representatives when disposing of assets on its behalf.

(b) The obligations imposed on Crown Asset Management Limited would be disproportionate given the low risk of money laundering or terrorist financing in the circumstances outlined in this exemption.

4. This exemption comes into force on the day after the date I grant this exemption (21 November 2013).

5. This exemption will expire on 30 June 2015.

Ministerial Exemption: The New Zealand Housing Corporation

1. As the Minister of Justice and pursuant to section 157 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 ("the Act"), I partially exempt the New Zealand Housing Corporation (Corporation) from Part 2 of the Act in relation to financial activities provided in connection with the following products as they are described in the Corporation’s application:

(a) Kainga Whenua loans;

(b) Housing Innovation Fund loans; and

(c) KiwiSaver First Home Deposit subsidy.

2. This exemption is made subject to the following conditions:

(a) Suspicious transaction reports are to be carried out by the Corporation in accordance with subpart 2 of Part 2 of the Act in relation to the drawdown of Housing Innovation Fund loans where the Corporation is responsible for oversight.

(b) That the exemption be used for the benefit of the Corporation only.

(c) If, following the introduction of a new Government initiative or a change to an existing product, the Corporation is required to carry out further activities which fall within the ambit of the Act, the Corporation is required to notify the Ministry and the Department of Internal Affairs and undertakes to work with those bodies to agree how to manage any risks.

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

(a) The only activity that the Corporation provides in relation to the Kainga Whenua loans is the provision of guarantees to Kiwibank. The Corporation has no real customer interface with the borrowers apart from ensuring that security is adequately received. The risks of money laundering involved in providing a guarantee to Kiwibank are low.

(b) In relation to Housing Innovation Fund loans, the Corporation is responsible for the monitoring and drawing down of existing loans. There is a slight risk that the process involved in drawing down any remaining funds could be abused if it is not tightly managed. Requiring suspicious transaction reports to be filed by the Corporation in relation to those remaining funds ensures that there is a formal process in place if unusual activity occurs.

(c) In relation to the KiwiSaver First Home Deposit subsidy, while there is a theoretical opportunity [REDACTED], to launder [REDACTED], we consider the likelihood that this would occur in practice is extremely low. The amount of money involved is not high and [REDACTED].

(d) We cannot recommend that a broad exemption be provided to the Corporation to cover future Government initiatives. There is no certainty around the types of activities that the Corporation could be involved in.

4. This exemption comes into force on the day after the date I grant this exemption (21 November 2013).

5. This exemption will expire on 30 June 2018.

Ministerial Exemption Form: The Tindall Foundation

1. As the Minister of Justice, pursuant to section 157 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 ("the Act"), I exempt The Tindall Foundation from all the provisions of this Act.

2. This exemption is not subject to any conditions.

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

(a) There is a low risk of money laundering and terrorist financing through The Tindall Foundation as:

(i) The Tindall Foundation is a not for profit charitable organisation that does not accept money from the public and manages only the private money of one family. It is registered with the Charities Commission (#CC35747);

(ii) The Tindall Foundation offers a community service that seeks to assist businesses to access safe credit for a purpose consistent with its Charitable Purpose as set out in its Trust Deed;

(iii) The Tindall Foundation offers defined and limited services to specific customers with robust internal processes that confirm the purpose for which loans provided will be used; and

(iv) The trustees make the final decision on all lending applications and retain control of the use of the funds of the organisation, including with respect to loan applications.

(b) The obligations imposed on The Tindall Foundation would be disproportionate given the low risk of money laundering or terrorist financing in the circumstances outlined in this exemption.

4. This exemption comes into force on the day after the date I grant this exemption (21 November 2013).

5. This exemption will expire on 30 June 2018.

Any person wishing to provide comment on these notices should contact the Criminal Law Team at the Ministry of Justice by emailing international.crime@justice.govt.nz

go7794

Judicature Act 1908

Appointment of Judge of the High Court

Pursuant to section 4 of the Judicature Act 1908, His Excellency the Governor-General of New Zealand, in the name and on behalf of Her Majesty The Queen, has been pleased to appoint

Cameron Leslie Mander, barrister and solicitor, of Wellington

a Judge of the High Court, the commission to take effect on 2 December 2013.