MinterEllisonRuddWatts is a designated non-financial business with obligations under New Zealand’s anti-money laundering and countering financing of terrorism laws.

Under the New Zealand Anti-Money Laundering and Countering Financing of Terrorism Act 2009, a designated non-financial business or profession means—

• a law firm, a conveyancing practitioner, an incorporated conveyancing firm, an accounting practice, a real estate agent, or a trust and company service provider, who, in the ordinary course of business, carries out 1 or more of the following activities:
  • acting as a formation agent of legal persons or legal arrangements:
  • acting as, or arranging for a person to act as, a nominee director or nominee shareholder or trustee in relation to legal persons or legal arrangements:
  • providing a registered office or a business address, a correspondence address, or an administrative address for a company, or a partnership, or for any other legal person or arrangement, unless the office or address is provided solely as an ancillary service to the provision of other services:
  • managing client funds (other than sums paid as fees for professional services), accounts, securities, or other assets:
  • providing real estate agency work (within the meaning of section 4(1) of the Real Estate Agents Act 2008) to effect a transaction (within the meaning of section 4(1) of the Real Estate Agents Act 2008):
  • engaging in or giving instructions on behalf of a customer to another person for—
    • any conveyancing (within the meaning of section 6 of the Lawyers and Conveyancers Act 2006) to effect a transaction (within the meaning of section 4(1) of the Real Estate Agents Act 2008), namely,—
      • the sale, the purchase, or any other disposal or acquisition of a freehold estate or interest in land:
      • the grant, sale, or purchase or any other disposal or acquisition of a leasehold estate or interest in land (other than a tenancy to which the Residential Tenancies Act 1986 applies):
      • the grant, sale, or purchase or any other disposal or acquisition of a licence that is registrable under the Land Transfer Act 1952:
      • the grant, sale, or purchase or any other disposal or acquisition of an occupation right agreement within the meaning of section 5 of the Retirement Villages Act 2003:
    • a transaction (within the meaning of section 4(1) of the Real Estate Agents Act 2008); or
    • the transfer of a beneficial interest in land or other real property; or
    • a transaction on behalf of any person in relation to the buying, transferring, or selling of a business or legal person (for example, a company) and any other legal arrangement; or
    • a transaction on behalf of a customer in relation to creating, operating, and managing a legal person (for example, a company) and any other legal arrangement; and
• includes a person or class of persons declared by regulations to be a designated non-financial business or profession for the purposes of this Act; but
• excludes a person or class of persons declared by regulations not to be a designated non-financial business or profession for the purposes of this Act.