New Zealand Legislation: Acts

18 Criteria for overseas investments in significant business assets

• (1) The criteria for an overseas investment in significant business assets are all of the following:

  • (a) the relevant overseas person has, or (if that person is not an individual) the individuals with control of the relevant overseas person collectively have, business experience and acumen relevant to that overseas investment:

  • (b) the relevant overseas person has demonstrated financial commitment to the overseas investment:

  • (c) the relevant overseas person is, or (if that person is not an individual) all the individuals with control of the relevant overseas person are, of good character:

  • (d) the relevant overseas person is not, or (if that person is not an individual) each individual with control of the relevant overseas person is not, an individual of the kind referred to in section 7(1) of the Immigration Act 1987 (which lists certain persons not eligible for exemptions or permits under that Act).

  (2) See section 19 in relation to subsection (1)(c) and (d).