Anti-Money Laundering and Countering Financing of Terrorism (Class Exemptions) Amendment Notice 2014
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Reprint as at 30 June 2018
Anti-Money Laundering and Countering Financing of Terrorism (Class Exemptions) Amendment Notice 2014
(LI 2014/358)
Anti-Money Laundering and Countering Financing of Terrorism (Class Exemptions) Amendment Notice 2014: revoked, on 30 June 2018, pursuant to clause 5(b) of the Anti-Money Laundering and Countering Financing of Terrorism (Class Exemptions) Notice 2018 (LI 2018/101).
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.
This notice is administered by the Ministry of Justice.
Pursuant to section 159(2)(b) of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, the Minister of Justice gives the following notice.
Notice
1 Title
This notice is the Anti-Money Laundering and Countering Financing of Terrorism (Class Exemptions) Amendment Notice 2014.
2 Commencement
This notice comes into force on 1 December 2014.
3 Principal notice
This notice amends the Anti-Money Laundering and Countering Financing of Terrorism (Class Exemptions) Notice 2014 (the principal notice).
4 Schedule amended
(1)
In the Schedule, Part 2, clause 2, after “operating a superannuation scheme”
, insert “, KiwiSaver scheme, or workplace savings scheme”
.
(2)
In the Schedule, Part 2, clause 3, definition of specified service, after “operating a superannuation scheme”
, insert “, KiwiSaver scheme, or workplace savings scheme”
.
(3)
In the Schedule, Part 2, clause 3, insert in their appropriate alphabetical order:
pre-transition KiwiSaver scheme means a KiwiSaver scheme that continues to be registered in the KiwiSaver schemes register under clause 18(1)(a) of Schedule 4 of the Financial Markets Conduct Act 2013
pre-transition superannuation scheme means a superannuation scheme that continues to be registered under the Superannuation Schemes Act 1989 under clause 18(1)(b) of Schedule 4 of the Financial Markets Conduct Act 2013
superannuation scheme—
(a)
has the same meaning as in section 6(1) of the Financial Markets Conduct Act 2013; and
(b)
includes a pre-transition KiwiSaver scheme and a pre-transition superannuation scheme
Dated at Wellington this 17th day of November 2014.
Amy Adams,
Minister of Justice.
Statement of reasons
This notice, which comes into force on 1 December 2014, amends the Anti-Money Laundering and Countering Financing of Terrorism (Class Exemptions) Notice 2014 (the principal notice). In particular, it amends Part 2 of the Schedule of the principal notice, which grants class exemptions under section 157(1) of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the Act) in relation to certain superannuation schemes allowing contributions during unpaid leave of absence.
The Minister of Justice considers that it is appropriate to make the amendments because they are necessary to take account of changes made to the Act as a consequence of provisions of the Financial Markets Conduct Act 2013 and related legislation coming into force on 1 December 2014. In particular, they amend provisions of the exemptions so that—
these align with new definitions of the terms KiwiSaver scheme, superannuation scheme, and workplace savings scheme inserted in the Act by the Financial Markets (Repeals and Amendments) Act 2013 on 1 December 2014:
they continue to align with the provisions of the related Anti-Money Laundering and Countering Financing of Terrorism (Exemptions) Regulations 2011, referred to in the principal notice.
Date of notification in Gazette: 27 November 2014.
Reprints notes
1 General
This is a reprint of the Anti-Money Laundering and Countering Financing of Terrorism (Class Exemptions) Amendment Notice 2014 that incorporates all the amendments to that notice as at the date of the last amendment to it.
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 (Class Exemptions) Notice 2018 (LI 2018/101): clause 5(b)
Versions
Anti-Money Laundering and Countering Financing of Terrorism (Class Exemptions) Amendment Notice 2014
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