New Zealand Legislation: Acts

57D What are overseas investments in fishing quota

• An overseas investment in fishing quota is the acquisition by an overseas person, or an associate of an overseas person, of—

  • (a) an interest in fishing quota; or

  • (b) rights or interests in securities of a person (A) if A owns or controls (directly or indirectly) an interest in fishing quota and, as a result of the acquisition,—

    • (i) the overseas person or the associate (either alone or together with its associates) has a 25% or more ownership or control interest in A; or

    • (ii) the overseas person or the associate (either alone or together with its associates) has an increase in an existing 25% or more ownership or control interest in A; or

    • (iii) A becomes an overseas person.

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