New Zealand Legislation: Acts

57 Overview of overseas investment fishing provisions

• (1) The general scheme and effect of the provisions governing overseas investments in fishing quota are as follows:

  • (a) their interpretation is covered by section 57A of this Act and Part 1 of the Overseas Investment Act 2005:

  • (b) when consent is required and the criteria for consent are stated in sections 57B to 57I of this Act:

  • (c) the procedure for obtaining consent and imposing conditions of consent is set out in subpart 2 of Part 2 of the Overseas Investment Act 2005:

  • (d) who administers those provisions is set out in section 57J of this Act and the role of the main regulator is set out in subpart 3 of Part 2 of the Overseas Investment Act 2005:

  • (e) the regulator's monitoring powers are set out in subpart 4 of Part 2 of the Overseas Investment Act 2005:

  • (f) enforcement matters, including offences, penalties, and the Court's powers to make orders for effective enforcement, are set out in subpart 5 of Part 2 of the Overseas Investment Act 2005 and additional forfeiture and other remedies are set out in sections 57K to 58B of this Act:

  • (g) regulations may be made under subpart 6 of Part 2 of the Overseas Investment Act 2005.

  (2) This section is a guide only to the general scheme and effect of those provisions.

  Section 57: substituted, on 25 August 2005, by section 73 of the Overseas Investment Act 2005 (2005 No 82).