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Anti-Money Laundering and Countering Financing of Terrorism Act 2009

Institutional arrangements and miscellaneous provisions - Institutional arrangements - AML/CFT supervisors

135: Authority to act as delegate

You could also call this:

"Being allowed to act on someone else's behalf to help stop money laundering and terrorism"

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

You need a written authorisation to act as a delegate for an AML/CFT supervisor. The chief executive of the AML/CFT supervisor must give you this authorisation if you are delegated under section 134. It states your name, the function you can perform, and the powers you can exercise. When you act as a delegate, you must carry your written authorisation and identity evidence with you. You must show these if a reporting entity asks to see them. This is so they know you are allowed to perform the delegated function or powers. You must return your written authorisation to the AML/CFT supervisor when your delegation is revoked.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM2353136.

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134: Delegation of supervisory function and powers, or

"When someone in charge gives you special jobs or powers to help stop money laundering"

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136: Effect of delegation, or

"Delegating a task doesn't stop the supervisor from doing their job, and you're still protected if you get a delegated task."

Part 4Institutional arrangements and miscellaneous provisions
Institutional arrangements: AML/CFT supervisors

135Authority to act as delegate

  1. The chief executive of the AML/CFT supervisor must issue a written authorisation to every person to whom a delegation is made under section 134 stating—

  2. the name of the authorised person; and
    1. the function that he or she is authorised to perform; and
      1. the powers that he or she may exercise.

        1. The delegate, when acting in the capacity of a delegate of the AML/CFT supervisor,—

        2. must carry on him or her—
          1. the written authorisation provided under subsection (1); and
            1. evidence of his or her identity; and
            2. must produce the written authorisation and evidence referred to in paragraph (a), if requested to do so by a reporting entity that is subject to the delegated function or powers being performed or exercised by the delegate.

              1. The delegate must return the written authorisation to the AML/CFT supervisor as soon as his or her delegation is revoked.