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Anti-Money Laundering and Countering Financing of Terrorism Act 2009

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

136: Effect of delegation

You could also call this:

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

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

When an AML/CFT supervisor delegates a task, it does not stop them from doing their job. You know the supervisor is still responsible for what they do. The person who gets the delegated task has the same protections as the supervisor who gave it to them. When a task is delegated under section 134, the supervisor can still do their job. You are protected if you get a delegated task from an AML/CFT supervisor. The person who does the delegated task has the same protections as the AML/CFT supervisor who delegated it under section 134.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM2353137.

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135: Authority to act as delegate, or

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

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137: Power to use information obtained as AML/CFT supervisor in other capacity and vice versa, or

"Government agencies can share information between jobs to help stop money laundering."

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

136Effect of delegation

  1. No delegation under section 134—

  2. affects or prevents the performance of any function or the exercise of any power by the AML/CFT supervisor; or
    1. affects the responsibility of the AML/CFT supervisor for the performance of its functions and the exercise of its powers.

      1. Every person to whom a function or power is delegated under section 134 has the same immunities in relation to the performance of that function or the exercise of that power as the AML/CFT supervisor that made the delegation.