Hoku Foundation

Date Made

Date signed: 2026-09-17

Sectors

Nonbank non-deposit taking lenders (NBNDTLs)

Enacting statement

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

Ministerial Exemption: Hoku Foundation

Commencement date

This exemption comes into force on 2026-09-18

End date

This exemption will expire on 2031-09-18

Exemption

As the Associate Minister of Justice, and pursuant to section 157 of the Act, I exempt Hoku Foundation from the following provisions of the Act:

1. 1. Sections 10-39
   2. Sections 48A-71 

Conditions

This exemption is made subject to the following conditions:

1. 1. The exemption only applies to Hoku Foundation's impact investment loans. 
   2. Hoku Foundation must continue to be a registered charity in respect of the Charities Act 2005 and fully comply with the requirements under the Charities Act. 
   3. Hoku Foundation must inform the Ministry of Justice and the Department of Internal Affairs of any changes that may affect the exemption within 10 working days of when the change occurs. 

Statement of reasons

This exemption has been made for the following reasons:

1. 1. There is a low risk of money laundering and terrorism financing through Hoku Foundation because: 
   2. The obligations imposed on Hoku Foundation would be disproportionate given the low risk of money laundering and terrorism financing. 
   3. The exemption granted has a low impact on the integrity of the anti-money laundering and countering financing of terrorism system in alignment with section 157 of the Act. 

Contact

Any person wishing to provide comment on this notice should contact the Anti-Money Laundering and Countering Financing of Terrorism Team at the Ministry of Justice by emailing amlcft.exemptions@justice.govt.nz.