Pegasus Health Charitable Limited

Date Made

Date signed: 2026-06-15

Sectors

Trust and company service providers (TCSPs)

Enacting statement

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

Commencement date

This exemption comes into force on 2026-06-15

End date

This exemption will expire on 2031-06-15

Exemption

As the Associate Minister of Justice, and pursuant to section 157 of the Act, I exempt Pegasus Health Charitable Limited (“Pegasus”) from the following provisions of the Act: 

1. 1. Sections 10-71 (inclusive)

Conditions

This exemption is made subject to the following conditions: 

1. 1. Pegasus must maintain its current internal processes and its close working relationship with each exempt customer; 
   2. The exemption applies only to the administration and accounting services Pegasus provides to the seven organisations identified in the original application;  
   3. The exemption does not apply to services Pegasus provides to any new customer;  
   4. If an existing customer ceases to receive services from Pegasus, that customer will no longer be covered by the exemption; and
   5. Pegasus must notify the Ministry of Justice within 10 working days of any change in circumstances that may affect the exemption or any of its conditions.  

Statement of reasons

The exemption has been made for the following reasons:  

1. 1. There is a low risk of money laundering and terrorism financing through Pegasus because: 
      1. The services are only provided to a small number of connected organisations that Pegasus knows well and whose ownership structures are fully visible to Pegasus. 
      2. Pegasus does not carry out cash transactions in practice, and any such transaction would be highly unusual and subject to scrutiny.  
      3. There is a high level of transparency regarding the source, use, and destination of funds, which come almost exclusively from Health New Zealand contracts and are used to provide health services.  
      4. Pegasus has internal approval and payment controls in place, and its financial reporting and audit requirements help reduce the risk of fraud and money laundering and terrorism financing.  
   2. The obligations imposed on Pegasus 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. 

Corrigendum

Previous exemptions

Pegasus Health Limited