In accordance with section 157(6)(b) of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“Act”), the Associate Minister of Justice hereby gives notice that he has granted the following exemption from the Act:
Ministerial exemption: The New Zealand Lotteries Commission
- As the Associate Minister of Justice, and pursuant to section 157 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, I exempt the New Zealand Lotteries Commission (“Lotteries Commission”) from the following provisions of the Act.
- Sections 10–71 inclusive.
- This exemption is made subject to the condition that the Lotteries Commission must inform the Ministry of Justice of any changes that may affect the exemption within 14 days of when the change occurs.
- The exemption has been made for the following reasons:
- The risk of money laundering/terrorist financing associated with the Lotteries Commission’s business activities is low;
- the Lotteries Commission, in the absence of an exemption, would be subject to an undue regulatory burden; and
- granting this exemption is unlikely to affect third-party reporting entities.
- This exemption comes into force on 23 July 2018.
- This exemption will expire on 30 June 2023.
Any person wishing to provide comment on this notice should contact the Criminal Law Team at the Ministry of Justice by emailing firstname.lastname@example.org.
Dated this 23rd day of July 2018.
Hon AUPITO WILLIAM SIO, Associate Minister of Justice.