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Anti-Money Laundering and Countering Financing of Terrorism Act 2009

AML/CFT requirements and compliance - Record keeping

53: When records need not be kept

You could also call this:

"When you don't have to keep records, like if your company is closed down."

Illustration for Anti-Money Laundering and Countering Financing of Terrorism Act 2009

You do not need to keep records if you are a reporting entity that has been liquidated and finally dissolved. The High Court can make an order for you to keep some records if you are being or have been liquidated. This order can require you to keep records mentioned in sections 50 and 51 for a certain period.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM2140908.

Topics:
Money and consumer rights > BusinessBusiness > Industry rules
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52: How records to be kept, or

"Keeping Records in Writing"

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54: Destruction of records, or

"Get rid of old records when you don't need them anymore"

Part 2AML/CFT requirements and compliance
Record keeping

53When records need not be kept

  1. Nothing in this subpart requires the retention of any records kept by a reporting entity that has been liquidated and finally dissolved except as provided in subsection (2).

  2. The High Court may, in relation to a reporting entity that is being or has been liquidated, make an order requiring that any or all of the records referred to in sections 50 and 51 be kept for any period it thinks fit.

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