Overseas Investment Exemption Notice (No 2) 1990

  • revoked
  • Overseas Investment Exemption Notice (No 2) 1990: revoked, on 6 November 2008, by clause 3 of the Regulations Revocation Order 2008 (SR 2008/367).

Reprint
as at 6 November 2008

Overseas Investment Exemption Notice (No 2) 1990

(SR 1990/203)

  • Overseas Investment Exemption Notice (No 2) 1990: revoked, on 6 November 2008, by clause 3 of the Regulations Revocation Order 2008 (SR 2008/367).


Note

Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this eprint.

A general outline of these changes is set out in the notes at the end of this eprint, together with other explanatory material about this eprint.

This notice is administered in the Overseas Investment Commission.


PURSUANT to the Overseas Investment Regulations 1985, the Overseas Investment Commission hereby gives the following notice.

1 Title and commencement
  • (1) This notice may be cited as the Overseas Investment Exemption Notice (No 2) 1990.

    (2) This notice shall come into force on the day after the date of its notification in the Gazette.

2 Interpretation
  • (1) In this notice, unless the context otherwise requires,—

    Specified person means any company which is an overseas person but which would not be an overseas person if The New Zealand Guardian Trust Company Limited were not an overseas person

    The Regulations means the Overseas Investment Regulations 1985.

    (2) Terms or expressions used in this notice have the same meaning as they have in the Regulations.

3 Exemption from Part 1 of the Regulations
  • Every person is exempt from the provisions of Part 1 of the Regulations in respect of the issue of shares to, or the allotment of shares subscribed for by,—

    • (a) A specified person; or

    • (b) The New Zealand Guardian Trust Company Limited.

4 Exemption from Parts 2 and 3 of the Regulations
  • (1) The New Zealand Guardian Trust Company Limited and every specified person is exempt from the provisions of Part 2 (except regulation 16) and Part 3 of the Regulations.

    (2) Every person is exempt from the provisions of regulation 16 of the Regulations in respect of the provision of any contract or agreement which provides for the transfer of shares in a company to—

    • (a) A specified person; or

    • (b) The New Zealand Guardian Trust Company Limited.


Explanatory note

This note is not part of the notice, but is intended to indicate its general effect.

This notice, which comes into force on the day after the date of its notification in the Gazette, exempts persons who issue or allot shares to any specified person, or to The New Zealand Guardian Trust Company Limited, from Part 1 of the Overseas Investment Regulations 1985. The term specified person is defined to mean a company which is an overseas person under those regulations but which would not be an overseas person if The New Zealand Guardian Trust Company Limited were not an overseas person.

The notice exempts The New Zealand Guardian Trust Company Limited and specified persons from the requirements of Part 2 (except regulation 16) of those regulations (which relates to take-overs by overseas persons) and from Part 3 of those regulations (which relates to the acquisition by an overseas person of assets used in carrying on a business).

The notice also exempts persons from compliance with regulation 16 of those regulations in relation to any contract or agreement which provides for the transfer of shares in a company to a specified person or to The New Zealand Guardian Trust Company Limited.


Issued under the authority of the Acts and Regulations Publication Act 1989.

Date of notification in Gazette: 23 August 1990.


Contents

  • 1General

  • 2About this eprint

  • 3List of amendments incorporated in this eprint (most recent first)


Notes
1 General
  • This is an eprint of the Overseas Investment Exemption Notice (No 2) 1990. It incorporates all the amendments to the notice as at 6 November 2008. The list of amendments at the end of these notes specifies all the amendments incorporated into this eprint since 3 September 2007. Relevant provisions of any amending enactments that contain transitional, savings, or application provisions are also included, after the Principal enactment, in chronological order.

2 About this eprint
  • This eprint has not been officialised. For more information about officialisation, please see Making online legislation official under Status of legislation on this site in the About section of this website.

3 List of amendments incorporated in this eprint (most recent first)
  • Regulations Revocation Order 2008 (SR 2008/367): clause 3