Author:Adam Harris

AML/CFT Identify Verification during COVID-19

Since 1 July 2018, lawyers have been subject to New Zealand’s anti-money laundering regime contained in the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“the Act”). Under the Act, lawyers must complete customer due diligence (“CDD”) or “know your customer” investigations on clients. During  COVID-19 Alert Level 3 and 4, the ability to identify clients and verify client information in line with AML legislation is proving a challenge. AML supervisors have released a joint statement to provide guidance to AML reporting entities on how to comply with AML requirements during the COVID-19 Alert Levels, both for ongoing customer due diligence for...

Shared Care During COVID-19 Lockdown

Sharing the care of your children when separated can be challenging in the best of times. Some parents will have informal care arrangements while others may have a Parenting Order which determines the care and contact arrangements. Whatever the arrangement you have in place, it requires good communication and a degree of trust between parents. Children need to move between different households which may include living with other adults and children. During COVID-19 Alert Level 4 this has raised several questions as to how the care arrangement works. Can contact continue and if so how? If not, can contact continue in...

Insolvency Law Relief Driven by COVID-19

The Government has announced temporary changes to the Companies Act 1993 to assist businesses facing financial stress and insolvency during the COVID-19 pandemic. The temporary changes include: Providing the directors of companies facing significant liquidity problems due to COVID-19 a ‘safe harbour’ from insolvency duties under the Companies Act. Enabling businesses affected by COVID-19 to place existing debts into hibernation until they can start trading normally again. Allowing the use of electronic signatures where necessary due to restrictions caused by COVID-19. Giving the Registrar of Companies the power to temporarily extend deadlines imposed on companies, incorporated societies, charitable trusts and...