Publications
A guide to the Anti-Money Laundering and Countering Financing of Terrorism Bill
A draft law aimed at eradicating money laundering and terrorist financing is now before Parliament, with submissions closing next week.
The Anti-Money Laundering and Countering Financing of Terrorism Bill was introduced to Parliament in June 2009, after an extended period of consultation.
This new legislation upgrades the Financial Transactions Reporting Act 1996 and will have significant implications for many businesses in New Zealand.
Bell Gully has prepared this practical guide to assist you to understand the bill and to help with compliance planning.
Submissions on the bill close with the Foreign Affairs, Defence and Trade Select Committee on 6 August 2009. The legislation is expected to be passed into law in the third quarter of 2009. There will then be a two year transitional period before the new regime comes into effect.
Click here for further details of the bill's progression.
For further information contact:
Mark Todd
Partner
David Craig
Partner
Murray King
Partner
Jonathan Ross
Partner
Haydn Wong
Partner
Disclaimer
This publication is necessarily brief and general in nature. You should seek professional advice before taking any action in relation to the matters dealt with in this publication.
