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Anti-Money Laundering and Countering Financing of Terrorism Act 2009

Institutional arrangements and miscellaneous provisions - Institutional arrangements - Co-ordination

151: Role of AML/CFT co-ordination committee

You could also call this:

"A committee helps stop money laundering and terrorism by working together with different groups."

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

You have a committee to help stop money laundering and terrorism financing. This committee makes sure different groups work together properly. It helps them operate effectively and efficiently.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM2141057.

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150: AML/CFT co-ordination committee, or

"A group to help stop money laundering and terrorism financing"

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152: Functions, or

"The committee's job is to help stop money laundering and terrorism financing by sharing information and working together."

Part 4Institutional arrangements and miscellaneous provisions
Institutional arrangements: Co-ordination

151Role of AML/CFT co-ordination committee

  1. The role of the AML/CFT co-ordination committee is to ensure that the necessary connections between the AML/CFT supervisors, the Commissioner, and other agencies are made in order to ensure the consistent, effective, and efficient operation of the AML/CFT regulatory system.