NEW ZEALAND GAZETTE, No. 31 — 14 APRIL 2016

3. The exemption has been granted for the following reasons:
   a. There is a very low risk of money laundering and terrorist financing through CM as:
   i. it is a not-for-profit organisation offering no rate of interest on the deposits made by investors. It is registered in the Charities Register under the Charities Act 2005 (CC48429);
   ii. its only activity caught by the Act is the option given to the depositors to have their deposit capital repaid at the end of the 12-month cycle; and
   iii. the individual deposits received by Catalyst Microfranchising are small (maximum of $400.00 each) and the depositors have no way of controlling or directing their funds.
   b. Due to the very low money laundering and terrorism financing risks raised by CM 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.
   c. 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 Task Force and the Asia/Pacific Group on Money Laundering.

4. This exemption came into force on the day after the date I granted this exemption (17 March 2016).

5. This exemption will expire on 30 June 2018.

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

Radiocommunications Regulations (Radio Standards) Notice 2016

Pursuant to section 133 of the Radiocommunications Act 1989 and Regulation 32(1)(a), (b), (d) and (j) of the Radiocommunications Regulations 2001, the Chief Executive of the Ministry of Business, Innovation, and Employment hereby gives the following notice.

Notice

1. Title, commencement and purpose
   (a) This notice is the Radiocommunications Regulations (Radio Standards) Notice 2016.
   (b) This notice comes into force on 14 April 2016.
   (c) This notice prescribes:
   (i) classes of products;
   (ii) the standards applicable to particular classes of products;
   (iii) the level of conformity applicable to a class of product; and
   (iv) products that are exempt from the need to be the subject of a declaration of conformity.

2. Interpretation
   (a) In this notice, unless the context otherwise requires:
   ACMA Radiocommunications Standard means a standard made by the Australian Communications and Media Authority under subsection 162(1) of the Australian Radiocommunications Act 1992.
   Act means the Radiocommunications Act 1989.
   ANSI/TIA means a joint standard or specification published by the American National Standards Association and the Telecommunications Industry Association Standards.
   ARIB means a standard published by the Association of Radio Industries and Businesses in Japan.
   AS/NZS means a joint Australian/New Zealand standard under the terms of the Active Co-operation Agreement between Standards Australia Limited and Standards New Zealand.
   CFR means the Code of Federal Regulations of the United States of America.
   EN means a standard published by European Telecommunications Standards Institute, commonly known as ETSI. These standards are recognised by European Committee for Electrotechnical Standardisation, commonly known as CENELEC.