Wairakei 801 Limited

Date Made

Date signed: 2022-07-12

Sectors

Nonbank non-deposit taking lenders (NBNDTLs)

Enacting statement

In accordance with section 157(4) 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 revocation of an exemption from the Act:

Revocation of Ministerial exemption from the Anti-Money Laundering and Countering Financing of Terrorism Act 2009: Wairakei 801 Limited

Commencement date

This exemption comes into force on 2022-07-12

End date

This exemption will expire on 2022-07-12

Exemption

Revoking Wairakei 801 Limited’s (“Wairakei’s”) exemption under the Act, which came into force on 9 March 2021 and was published in the New Zealand Gazette, 15 March 2021, Notice No. 2021-go947.

Statement of reasons

The exemption related to Wairakei’s activity of lending to existing customers for their Earthquake Commission and insurance claim litigation. 

The revocation has been granted because Wairakei has: 

1. 1. Completed the wind-up of its loan book.
   2. De-registered from the Financial Service Provider Register.
   3. Requested that its Ministerial exemption be revoked

Wairakei 801 Limited is no longer active in relation to the activities for which it was granted the Ministerial Exemption.

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

Wairakei 801 Limited