Plain language law

New Zealand law explained for everyone

Anti-Money Laundering and Countering Financing of Terrorism Act 2009

AML/CFT requirements and compliance - Cash transactions above applicable threshold value

67A: Prohibition on certain cash transactions

You could also call this:

"No cash deals over a certain amount for valuable items like jewellery or cars."

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

You must not buy or sell certain things for cash if the total value is above a certain amount. These things include jewellery, watches, and precious metals like gold and silver. You can find more information about what a motor vehicle is in section 6(1) of the Motor Vehicle Sales Act 2003, and what a ship is in section 2(1) of the Maritime Transport Act 1994. You also cannot buy or sell diamonds, sapphires, or other precious stones for cash above the threshold. This rule applies to motor vehicles and ships as well. If you are in trade, you need to follow this rule to avoid breaking the law.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS830134.

Topics:
Money and consumer rights > Consumer protectionBusiness > Industry rules
Previous

67: Legal effect of codes of practice, or

"What codes of practice mean for following the Anti-Money Laundering law"

Next

68: Reports about movement of cash into or out of New Zealand, or

"Telling the government about moving large amounts of cash in or out of New Zealand"

Part 2AML/CFT requirements and compliance
Cash transactions above applicable threshold value

67AProhibition on certain cash transactions

  1. A person who is in trade must not buy or sell any of the following articles by way of a cash transaction or a series of related cash transactions, if the total value of that transaction or those transactions is equal to or above the applicable threshold value:

  2. jewellery:
    1. watches:
      1. gold, silver, or other precious metals:
        1. diamonds, sapphires, or other precious stones:
          1. motor vehicles (within the meaning of section 6(1) of the Motor Vehicle Sales Act 2003):
            1. ships (within the meaning of section 2(1) of the Maritime Transport Act 1994).

              Notes
              • Section 67A: inserted, on , by section 27 of the Criminal Activity Intervention Legislation Act 2023 (2023 No 7).