NEW ZEALAND GAZETTE, No. 15 — 12 FEBRUARY 2015

to such withdrawals and contributions:

a. Sections 10–17 of the Act (and for the purposes of section 14(d) of the Act the first such withdrawal is specified as a circumstance in which standard customer due diligence must be conducted);

b. sections 40–48 of the Act;

c. where the transaction is relevant to a suspicious transaction report, section 49(1) and (2)(a)–(f) of the Act; and

d. sections 92–100 of the Act.

7. The exemption has been granted for the following reasons:

a. The trustees’ only duties as a reporting entity under the Act are in respect of the Scheme;

b. the Scheme poses a very low risk of money laundering or terrorism financing;

c. any risks posed by voluntary contributions outside of payroll have been addressed by the conditions;

d. due to the very low money laundering and terrorism financing risks raised by the Scheme and the significant compliance costs that would arise from not granting this exemption, I consider that any benefits of requiring compliance with the Act are not justified by the associated costs; and

e. this exemption is consistent with (and has no effect on the purpose or intent of) the Act, the Financial Transactions Reporting Act 1996 and New Zealand’s international obligations as a member of the Financial Action Taskforce and the Asia Pacific Group on Money Laundering.

8. This exemption came into force on the day after the date I granted this exemption (28 January 2015).

9. This exemption will expire on 30 June 2018.

Ministerial exemption: The Nelson Angel Women’s Loan Fund

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 exempt the Nelson Angel Women’s Loan Fund (“the Fund”) from all provisions of the Act.

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

a. The Fund is a not for profit organisation that charges no interest, nor pays any interest on the funds loaned to customers or managed for investors or customers.

b. The Fund offers a community service that seeks to assist low-income women to gain financial independence.

c. The Fund offers defined and limited services to specific customers with processes that confirm the purpose for which loans provided will be used.

d. The granting of this exemption is not inconsistent with the purpose or intent of the Act or the Financial Transactions Reporting Act 1996 or New Zealand’s international obligations as a member of the Financial Action Taskforce and the Asia Pacific Group on Money Laundering.

3. This exemption came into force on the day after the date I granted this exemption (28 January 2015).

4. This exemption will expire on 30 June 2018.

Ministerial exemption: Meat Industry Superannuation Scheme

1. In my capacity 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 exempt the trustees of the Meat Industry Superannuation Scheme (“the Scheme”), from the provisions of Part 2 of the Act in relation to services provided as trustees of the Scheme.

2. This exemption is subject to the following conditions:

a. Subject to paragraphs 3 and 4 below, the Scheme must prohibit any mechanism in the Trust Deed for the Scheme that would enable members to contribute to the Scheme voluntarily other than through payroll.

b. The Scheme must remain a registered superannuation scheme as defined under the Superannuation Schemes Act 1989 or registered under the Financial Markets Conduct Act 2013 as applicable.

c. With the exception of Australian superannuation transfers to the Scheme (if applicable), customer due