Anti-Money Laundering and Countering Financing of Terrorism Amendment Act 2013

Coat of Arms of New Zealand

Anti-Money Laundering and Countering Financing of Terrorism Amendment Act 2013

Public Act2013 No 106
Date of assent4 December 2013
Commencementsee section 2

The Parliament of New Zealand enacts as follows:

1 Title
  • This Act is the Anti-Money Laundering and Countering Financing of Terrorism Amendment Act 2013.

2 Commencement
  • This Act comes into force on the day after the date on which it receives the Royal assent.

3 Principal Act
4 Section 5 amended (Interpretation)
  • In section 5, definition of government agency, replace paragraph (d) with:

    • (d) any overseas country's counterpart of any of the entities in paragraphs (a) to (c).

5 Section 16 amended (Standard customer due diligence: verification of identity requirements)
6 Section 18 amended (Circumstances when simplified customer due diligence applies)
7 Section 27 amended (Wire transfers: identity requirements)
  • Replace section 27(6) with:

    • (6) Any information about the originator obtained by a reporting entity that is an intermediary institution must be provided by that reporting entity to the beneficiary institution as soon as practicable.

8 Section 28 amended (Wire transfers: verification of identity requirements)
  • Replace section 28(1)(a) with:

    • (a) verify the originator’s identity so that the reporting entity is satisfied that the information obtained under section 27 is correct; and.

9 Section 130 amended (AML/CFT supervisors)
10 Section 134 amended (Delegation of supervisory function and powers)

Legislative history

19 November 2013Divided from Statutes Amendment Bill (Bill 89–2) by committee of the whole House, third reading
4 December 2013Royal assent

This Act is administered by the Ministry of Justice.