Overseas Investment Act 2005

16C Conditions for consents relating to sensitive land that will be used for forestry activities

(1)

Subsection (2) applies if an application for consent for an overseas investment in sensitive land is being considered under the benefit to New Zealand test and section 16A(3) is being applied.

(2)

If granted, the consent must be made subject to conditions for the purpose of ensuring that the following requirements will be met:

(a)

the requirements set out in section 16A(2)(a) and (c):

(b)

the requirement set out in section 16A(2)(d), subject to section 16A(7).

(3)

Subsection (4) applies if an application for consent for an overseas investment in sensitive land is being considered under the benefit to New Zealand test in accordance with section 16A(4).

(4)

If granted, the consent must be made subject to conditions for the purpose of ensuring that the following requirements will be met:

(a)

the requirements set out in section 16A(4)(a) and (c):

(b)

the requirements set out in regulations made for the purposes of section 16A(4)(d), subject to section 16A(8):

(c)

the requirement set out in section 16A(4)(e), subject to section 16A(7).

(5)

A condition imposed in relation to the requirement set out in section 16A(2)(d) or (4)(e) may require the replacement of a crop of trees that is harvested to be on a like-for-like basis or on any similar basis.

Section 16C: inserted, on 22 October 2018, by section 13 of the Overseas Investment Amendment Act 2018 (2018 No 25).