New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) The Governor-General may, by Order in Council made on the recommendation of the Minister, make regulations for all or any of the following purposes:
(a) determining how to measure value or apply the value thresholds under section 13:
(b) prescribing, for the purposes of the criteria in section 16(1)(f), procedures for offering the farm land or the securities to which the overseas investment relates for acquisition on the open market to persons who are not overseas persons:
(c) providing what is required for an offer of foreshore, seabed, riverbed, or lakebed to the Crown to be sufficient for the purposes of section 17(2)(f), including prescribing—
(i) the maximum period for which the offer must be open:
(ii) at what price the land must be offered, and a valuation procedure for fixing that price:
(iii) on what terms and conditions the land must be offered to the Crown, with the purpose of ensuring it is offered on terms and conditions equivalent to those offered to the overseas person:
(iv) power for the relevant Ministers to reject an offer as not being sufficient for the purposes of section 17(2)(f) because it is not on terms and conditions equivalent to those offered to the overseas person:
(d) prescribing other factors that the relevant Ministers may apply under section 17(2)(g) of this Act or under section 57H of the Fisheries Act 1996:
(e) prescribing fees and charges to be paid, or the amounts to be charged, a means by which they may be calculated and ascertained, or a rate at which they may be calculated or ascertained, for the purpose of meeting or assisting in meeting costs of Ministers and the regulator in exercising functions and powers, and performing duties, and providing services, under this Act (but also the previous costs of Ministers and the Commission in relation to those matters under the Overseas Investment Act 1973):
(f) prescribing maximum bonds to be charged under section 25, a means by which bonds may be calculated or ascertained, or a rate at which bonds may be calculated or ascertained, for the purpose of meeting estimated reasonable costs of Ministers and the regulator in monitoring compliance with a condition or conditions of consent or exemption, and providing for the payment, and repayment if conditions are met, of those bonds:
(g) prescribing maximum administrative penalties to be charged by the regulator, a means by which administrative penalties may be calculated or ascertained, or a rate at which administrative penalties may be calculated or ascertained, for the purposes of sections 52 and 53:
(h) exempting or providing for exemptions from, or waivers, refunds, or discounting of, fees, charges, amounts, or administrative penalties:
(i) exempting (on terms and conditions, if appropriate) any transaction, person, interest, right, or assets, or class of transactions, persons, interests, rights, or assets, from the requirement for consent or from the definition of overseas person or associate or associated land:
(j) providing for the relevant Minister or Ministers to exempt (on terms and conditions, if appropriate), after having regard to the purpose of this Act, any transaction, person, interest, right, or asset from the requirement for consent or from the definition of overseas person or associate or associated land (and to amend or revoke those exemptions):
(k) providing for applications for exemptions:
(l) providing for and regulating the giving or service of notices for the purposes of this Act, and the effect of those notices:
(m) providing for transitional provisions:
(n) providing for any other matters contemplated by this Act or necessary for its administration or necessary for giving it full effect.
(2) The Minister must have regard to the purpose of this Act before recommending any regulations be made under subsection (1)(i).
