In accordance with section 154(3) of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 ("the Act"), the Minister of Justice hereby gives notice that he intends to make recommendations to the Governor-General that, pursuant to sections 70(a), (b) and (c), 153(c) and (j) and 154(1)(e) of the Act, Regulations are made to prescribe the matters described below.
1. The applicable threshold for cross-border cash reports, which is NZ$9,999.99.
2. The information that must be included in the cash report, which is as follows:
2.1 If the cash to which the report relates is cash of two or more different types, the nature and amount
(in the one or more currencies in which those types are denominated) of each of those types.
2.2 The total amount of the type or, as the case requires, each of the two or more different types, of the cash to which the report relates (in the one or more currencies in which that type is, or those types are, denominated).
2.3 The full name, occupation, permanent physical (not PO Box) address in New Zealand or abroad of:
2.3.1 the person making the report; and
2.3.2 any person completing in writing, on behalf of the person making the report, the prescribed form for the report.
2.4 The signature of the person (either A or B) completing the report (and, if it is completed by
B on A’s behalf, the reason why, and the capacity in which, B is completing the report on A’s behalf).
2.5 If A is moving or receiving the cash on behalf of one or more other persons, the full name, permanent physical (not PO Box) address in New Zealand or abroad of the residence or business, and occupation or main activity, of each of those other persons.
2.6 If the cash to which the report relates is being delivered to one or more other persons, the full name, permanent physical (not PO Box) address in New Zealand or abroad of the residence or business, and occupation or main activity, of each of those other persons.
3. If a person required to give a cash report (A) is
(for example, because of minority or physical or mental disability) incapable of completing it, then it must be completed on A’s behalf:
3.1 if A is competent to manage A’s own affairs in relation to A’s property, by a person (B) authorised by A to act on A’s behalf; and
3.2 in every other case, by a person (B) responsible for A’s personal care and welfare or for property
of A that is or includes the cash to which the report relates.
4. A form for the making of a cash report which relates to the prescribed information that must be included in a cash report (as described above).
A draft of the proposed Regulations (including the prescribed form for cash reports) is available for inspection.
Any person wishing to inspect the draft Regulations or provide comment on this recommendation should contact
Leeanne McAviney
International Criminal Law Team
Ministry of Justice
SX10088
Wellington.
Telephone: (04) 498 4285.
Email: leeanne.mcaviney@justice.govt.nz
HON SIMON POWER, Minister of Justice.