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Anti-Money Laundering and Countering Financing of Terrorism Act 2009

Enforcement - Civil liability - Enforceable undertakings

81: Enforceable undertakings

You could also call this:

"A written promise to follow the law and stop money laundering"

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

You can give a written promise to follow the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. The person in charge can accept this promise. You can change or take back your promise at any time, but you need their okay to do so.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM2140956.

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Money and consumer rights > Banking and loansCrime and justice > Criminal law
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80: Formal warnings, or

"Getting a formal warning when you do something wrong"

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82: Enforcement of undertakings, or

"What happens if you break a promise to follow the rules"

Part 3Enforcement
Civil liability: Enforceable undertakings

81Enforceable undertakings

  1. The relevant AML/CFT supervisor may accept a written undertaking given by a person in connection with compliance with this Act or regulations (if any).

  2. The person may withdraw or vary the undertaking at any time, but only with the consent of the relevant AML/CFT supervisor.