Overseas Investment Regulations 2005

Other factors for assessing benefit of overseas investment in sensitive land

28 Other factors for assessing benefit of overseas investment in sensitive land

The other factors that are referred to in section 17(2)(g) of the Act for assessing whether an overseas investment in sensitive land will, or is likely to, benefit New Zealand are as follows:

(a)

whether the overseas investment will, or is likely to, result in other consequential benefits to New Zealand (whether tangible or intangible benefits (such as, for example, additional investments in New Zealand or sponsorship of community projects)):

(b)

whether the relevant overseas person is a key person in a key industry of a country with which New Zealand will, or is likely to, benefit from having improved relations:

(c)

whether refusing the application for consent will, or is likely to,—

(i)

adversely affect New Zealand’s image overseas or its trade or international relations:

(ii)

result in New Zealand breaching any of its international obligations:

(d)

whether granting the application for consent will, or is likely to, result in the owner of the relevant land undertaking other significant investment in New Zealand:

(e)

whether the relevant overseas person has previously undertaken investments that have been, or are, of benefit to New Zealand:

(f)

whether the overseas investment will, or is likely to, give effect to or advance a significant Government policy or strategy:

(g)

whether the overseas investment will, or is likely to, enhance the ongoing viability of other overseas investments undertaken by the relevant overseas person:

(h)

whether the overseas investment will, or is likely to, assist New Zealand to maintain New Zealand control of strategically important infrastructure on sensitive land:

(i)

whether New Zealand’s economic interests will be adequately promoted by the overseas investment, including, for example, matters such as all or any of the following:

(i)

whether New Zealand will become a more reliable supplier of primary products in the future:

(ii)

whether New Zealand’s ability to supply the global economy with a product that forms an important part of New Zealand’s export earnings will be less likely to be controlled by a single overseas person or its associates:

(iii)

whether New Zealand’s strategic and security interests are or will be enhanced:

(iv)

whether New Zealand’s key economic capacity is or will be improved:

(j)

the extent to which persons who are not overseas persons (New Zealanders) will be, or are likely to be, able to oversee, or participate in, the overseas investment and any relevant overseas person, including, for example, matters such as all or any of the following:

(i)

whether there is or will be any requirement that 1 or more New Zealanders must be part of a relevant overseas person’s governing body:

(ii)

whether a relevant overseas person is or will be incorporated in New Zealand:

(iii)

whether a relevant overseas person has or will have its head office or principal place of business in New Zealand:

(iv)

whether a relevant overseas person is or will be a party to a listing agreement with NZX Limited or any other registered exchange that operates a securities market in New Zealand:

(v)

the extent to which New Zealanders have or will have any partial ownership or controlling stake in the overseas investment or in a relevant overseas person:

(vi)

the extent to which ownership or control of the overseas investment or of a relevant overseas person is or will be dispersed amongst a number of non-associated overseas persons.

Regulation 28(h): added, on 4 March 2008, by regulation 5 of the Overseas Investment Amendment Regulations 2008 (SR 2008/48).

Regulation 28(i): added, on 13 January 2011, by regulation 5 of the Overseas Investment Amendment Regulations 2010 (SR 2010/455).

Regulation 28(j): added, on 13 January 2011, by regulation 5 of the Overseas Investment Amendment Regulations 2010 (SR 2010/455).