Capricorn Society Limited

Date Made

Date signed: 2026-04-30

Sectors

Nonbank non-deposit taking lenders (NBNDTLs)

Enacting statement

In accordance with section 157 of the Anti-Money Laundering and Countering Financing Terrorism Act 2009 (“Act”). The Associate Minister of Justice hereby gives notice that she has granted the following exemption from the Act: 

Ministerial Exemption:  Capricorn Society Limited (Capricorn) 

Commencement date

This exemption comes into force on 2026-04-30

End date

This exemption will expire on 2031-04-30

Exemption

As Associate Minister of Justice, and pursuant to section 157 of the Anti- Money Laundering and Countering Financing of Terrorism Act 2009, I exempt Capricorn Society Limited (Capricorn) from the following provisions of the Act:

1. 1. sections 10 to 39;
   2. sections 48A to 48C;
   3. sections 49 to 51; and
   4. sections 56 to 71.

Conditions

This exemption is made subject to the following conditions:

1. 1. The exemption applies only to credit products offered by Capricorn with a maximum repayment term of up to four months.
   2. Capricorn must inform the Ministry of Justice of any changes that may affect the exemption or its conditions within 10 working days of the change occurring.

Statement of reasons

This exemption has been made for the following reasons:

1. 1. Capricorn provides short-term credit products only to members of its cooperative.
      Members are businesses in the automotive and allied sectors and must undergo commercial due diligence before accessing Capricorn’s services.
   2. The credit products covered by this exemption are limited to purchases from preferred suppliers and have a maximum repayment term of four months.
   3. Capricorn pays preferred suppliers directly through the New Zealand banking system and does not provide funds directly to members.
   4. Capricorn does not accept cash payments.

Contact

Any person wishing to provide comment on this notice should contact the AML/CFT Team at the Ministry of Justice by emailing amlcft.exemptions@justice.govt.nz. 

Corrigendum

Previous exemptions

Capricorn Society Limited