The Anglican Church in the Diocese of Christchurch and Church Property Trustees

Date Made

Date signed: 2018-07-23

Sectors

Providers of client money or property service (Brokers and custodians)

Enacting statement

In accordance with section 157(6)(b) of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“Act”), the Associate Minister of Justice hereby gives notice that he has granted the following exemption from the Act:

Ministerial exemption: The Anglican Church in the Diocese of Christchurch and Church Property Trustees

Commencement date

This exemption comes into force on 2018-07-23

End date

This exemption will expire on 2023-06-30

Exemption

As the Associate Minister of Justice, and pursuant to section 157 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, I exempt the Anglican Church in the Diocese of Christchurch and Church Property Trustees (“CPT”) 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. The exemption only applies in relation to services by CPT to entities within the Diocese of Christchurch and under the control of the Synod, as well as services provided to Parishes within the Diocese of Christchurch (“Related Entities”); and
   2. CPT must inform the Ministry of Justice of any changes that may affect the exemption within 10 working days of when the change occurs.

Statement of reasons

The exemption has been made for the following reasons:

1. 1. The services CPT provide to its Related Entities are no different to services provided to related body corporates, which are exempt from the Act under Regulation 16 of the Anti-Money Laundering and Countering Financing of Terrorism (Exemptions) Regulations 2011 (“Related Parties Exemption”);
   2. due to the use of the term “body corporate” in the drafting of the Related Parties Exemption, CPT is not able to rely on this exemption;
   3. the risk of money laundering/terrorist financing associated with CPT’s business activities is low;
   4. CPT, in the absence of an exemption, would be subject to an undue regulatory burden;
   5. renewing this exemption would have little to no impact on the prevention, detection, investigation and prosecution of money laundering/terrorist financing offences;
   6. renewing this exemption is unlikely to affect third-party reporting entities; and
   7. there have been no material changes to CPT’s business activity since the previous exemption was granted.

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

Anglican Church in the Diocese of Christchurch and Church Property Trustees