New Zealand Legislation: Acts

4 Overview

• (1) In this Act,—

  • (a) this Part deals with preliminary matters, including the purpose of this Act and interpretation:

  • (b) Part 2 contains the consent and conditions regime for overseas investments in sensitive New Zealand assets, and is organised as follows:

    • (i) subpart 1 states when consent is required and the criteria for consent (except that those matters are stated in the Fisheries Act 1996 for overseas investments in fishing quota):

    • (ii) subpart 2 sets out the procedure for obtaining consent and imposing conditions of consent:

    • (iii) subpart 3 describes the role of the person (the regulator) who administers the regime:

    • (iv) subpart 4 confers monitoring powers on the regulator:

    • (v) subpart 5 deals with aspects of enforcement, including offences under this Act, penalties, and the court's powers to make orders for effective enforcement:

    • (vi) subpart 6 relates to regulations and other miscellaneous matters:

    • (vii) subpart 7 contains transitional provisions (mostly relating to the dissolution of the Overseas Investment Commission and the employment consequences for its employees) and amendments to other enactments.

  (2) This Act replaces the Overseas Investment Act 1973 and the Overseas Investment Regulations 1995.

  (3) This section is a guide only to the general scheme and effect of this Act.