Tabuteau FletcherParts 1 and 2 schedules 1 to 3 and clauses 1 to 3FLETCHER TABUTEAU (NZ First): I want to go straight to Suspicious activity reports" new Subpart 2 inserted by clause 18 in Part 1 and speak to the issue in the Committee and ask a few questions of the Minister of Justice because this was one of the areas of great concern for a number of people and submitters—the question around suspicious activity and the reporting of it—because what we did not want to do was have an obligation for entities to report information and put too much of an onerous requirement on those entities and have such a high burden of cost in terms of compliance. But then on the other hand we know how big an issue this is and we could not let aspects of you know this kind of darker society as it were be left to their own devices and continue to use transactions which we know and we have seen overseas—there do not seem to be too many examples in New Zealand but we know that they must be able to do it here.By way of specific explanations we are talking about the means and activity that is carried out by a reporting entity where the reporting entity has reasonable grounds to suspect that the transaction or proposed transaction the service or proposed service or the inquiry may be relevant and it talks about prosecution of a person for money-laundering the Misuse of Drugs Act the Terrorism Suppression Act and the enforcement of the Proceeds of Crime Act and the prosecution of an offence within the meaning of the Crimes Act.So the obligation therefore is around suspicious activity reporting. At this stage—I will stand up later to ask questions of the Minister—what I think we have achieved here is kind of a middle ground where you do have an obligation on entities to report what they see as suspicious activities without the onerous requirements of continuous reporting or submissions to appropriate Government departments on a process that can be incredibly onerous. The flip side of that coin is that it is still a reasonably low transaction mark. I would be interested in the Minister's comments on the burden that that puts on genuine money transfers especially in the Pacific relating to for example family members here working in New Zealand sending money back home.I am hoping that the Committee comes to a consensus on the values used in this legislation. You will forgive me but I cannot find the dollar value right now. What we are looking for in this conversation tonight is a consensus that the dollar value is right and then that those transactions under that dollar value will adequately be caught in the suspicious reporting activity.I just have a point Minister on new section 40(5) in new Subpart 2 of Part 2—"A high-value dealer may report a suspicious activity to the Commissioner." It kind of seems really vague. Why are they reporting directly to the Commissioner of Police? Why have we suddenly gone away from the definition of the suspicious activity?So just a point of clarification there. Everything else is laid out as you would expect and is well worded. Then we come to that Part 5. It is kind of out there and a bit ambiguous. But I will come to further questions in my next contribution. Thank you."