Anti-Money Laundering and Countering Financing of Terrorism (Cross-border Transportation of Cash) Regulations 2010

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Reprint as at 18 January 2018

Coat of Arms of New Zealand

Anti-Money Laundering and Countering Financing of Terrorism (Cross-border Transportation of Cash) Regulations 2010

(SR 2010/352)

Rt Hon Sir Peter Blanchard, Administrator of the Government

Order in Council

At Wellington this 4th day of October 2010

Present:
His Excellency the Administrator of the Government in Council

Note

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

These regulations are administered by the Ministry of Justice.

Pursuant to sections 70(a), (b), and (c), 153(c) and (j), and 154(1)(e) of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, His Excellency the Administrator of the Government makes the following regulations acting—

(a)

on the advice and with the consent of the Executive Council; and

(b)

insofar as the regulations, under section 154(1)(e) of that Act, prescribe a threshold value and its application, on the recommendation of the Minister of Justice made after compliance with section 154(2) and (3) of that Act (which impose substantive and procedural preconditions for the making of any such recommendation).

Regulations

1 Title

These regulations are the Anti-Money Laundering and Countering Financing of Terrorism (Cross-border Transportation of Cash) Regulations 2010.

2 Commencement

(1)

These regulations come into force on 16 October 2010.

(2)

However, regulations 3, 5, and 6 (as replaced on 16 October 2015) come into force on 16 October 2015.

Regulation 2(2): inserted, on 16 October 2015, by regulation 4 of the Anti-Money Laundering and Countering Financing of Terrorism (Cross-border Transportation of Cash) Amendment Regulations 2015 (LI 2015/236).

3 Expiry
[Revoked]

Regulation 3: revoked, on 18 January 2018, by regulation 4 of the Anti-Money Laundering and Countering Financing of Terrorism (Cross-border Transportation of Cash) Amendment Regulations 2017 (LI 2017/304).

4 Interpretation

In these regulations, unless the context otherwise requires, the Act means the Anti-Money Laundering and Countering Financing of Terrorism Act 2009.

5 Threshold value and its application prescribed

(1)

The value $10,000 is prescribed by this subclause as the only threshold value for the purposes of sections 68 and 69 of the Act.

(2)

The persons, transactions, and financial activities to which that sole prescribed threshold value applies are therefore prescribed by this subclause as all persons, all transactions, and all financial activities.

Regulation 5: replaced, on 16 October 2015, by regulation 6 of the Anti-Money Laundering and Countering Financing of Terrorism (Cross-border Transportation of Cash) Amendment Regulations 2015 (LI 2015/236).

Regulation 5(1): amended, on 18 January 2018, by regulation 5 of the Anti-Money Laundering and Countering Financing of Terrorism (Cross-border Transportation of Cash) Amendment Regulations 2017 (LI 2017/304).

6 Form of cash report prescribed

The form set out in the Schedule is prescribed by this regulation for a report—

(a)

under subpart 6 of Part 2 of the Act; and

(b)

that, in accordance with section 70(a) of the Act, must be in writing in the appropriate prescribed form.

Regulation 6: replaced, on 16 October 2015, by regulation 6 of the Anti-Money Laundering and Countering Financing of Terrorism (Cross-border Transportation of Cash) Amendment Regulations 2015 (LI 2015/236).

Regulation 6(b): amended, on 18 January 2018, by regulation 6 of the Anti-Money Laundering and Countering Financing of Terrorism (Cross-border Transportation of Cash) Amendment Regulations 2017 (LI 2017/304).

7 Information cash report must contain prescribed

(1)

The following information is prescribed by this regulation for the purposes of section 70(b) of the Act (which requires a cash report to contain the prescribed information):

(a)

if the cash to which the report relates is cash of 2 or more different types, the nature and amount (in the 1 or more currencies in which those types are denominated) of each of those types:

(b)

the total amount of the type or, as the case requires, each of the 2 or more different types, of the cash to which the report relates (in the 1 or more currencies in which that type is, or those types are, denominated):

(c)

the full name, occupation, and permanent physical (not PO Box) address in New Zealand or abroad of—

(i)

the person required to give the report (A); and

(ii)

any other person (B) completing the report on A’s behalf:

(d)

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):

(e)

if A is moving or receiving the cash on behalf of 1 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:

(f)

if the cash to which the report relates is being delivered to 1 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.

Examples of cash of different types

Cash that is in part physical currency, and in part a kind of bearer-negotiable instrument (such as a cheque).

Cash that is in part one kind of bearer-negotiable instrument (such as a promissory note) and in part another kind of bearer-negotiable instrument (such as an instrument that is a bearer-negotiable instrument under paragraph (g) of the definition of that term in section 5 of the Act because the instrument is one, or is one of a class or kind, prescribed by regulations under the Act).

(2)

An example used in these regulations is only illustrative of the provisions to which it relates. It does not limit those provisions.

(3)

If an example and a provision to which it relates are inconsistent, the provision prevails.

8 Completion of cash report in cases of incapacity

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,—

(a)

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

(b)

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.

Schedule Prescribed form

r 6

Prescribed cash report form
Prescribed cash report form continued
Prescribed cash report form continued
Prescribed cash report form continued

Rebecca Kitteridge,
Clerk of the Executive Council.

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 7 October 2010.

Reprints notes
1 General

This is a reprint of the Anti-Money Laundering and Countering Financing of Terrorism (Cross-border Transportation of Cash) Regulations 2010 that incorporates all the amendments to those regulations as at the date of the last amendment to them.

2 Legal status

Reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by any amendments to that enactment. Section 18 of the Legislation Act 2012 provides that this reprint, published in electronic form, has the status of an official version under section 17 of that Act. A printed version of the reprint produced directly from this official electronic version also has official status.

3 Editorial and format changes

Editorial and format changes to reprints are made using the powers under sections 24 to 26 of the Legislation Act 2012. See also http://www.pco.parliament.govt.nz/editorial-conventions/.

4 Amendments incorporated in this reprint

Anti-Money Laundering and Countering Financing of Terrorism (Cross-border Transportation of Cash) Amendment Regulations 2017 (LI 2017/304)

Anti-Money Laundering and Countering Financing of Terrorism (Cross-border Transportation of Cash) Amendment Regulations 2015 (LI 2015/236)