Overseas Investment Regulations 2005

45 Exemptions for relationship property

(1)

The requirement for consent does not apply to the extent that giving effect to a transaction has any of the following effects:

(a)

the acquisition by an overseas person of property if—

(i)

the property is, or will be as a result of the acquisition, relationship property of the overseas person and the overseas person’s spouse or partner; and

(ii)

the overseas person’s spouse or partner is not an overseas person:

(b)

the acquisition by an overseas person of property as a result of a division of relationship property under the Property (Relationships) Act 1976:

(c)

the acquisition by a company incorporated in New Zealand (A Co) of property if—

(i)

all of the securities in A Co are wholly owned as relationship property by a person (B) and B’s spouse or partner; and

(ii)

B is not an overseas person.

(2)

In this regulation,—

relationship property means relationship property as defined in section 8 of the Property (Relationships) Act 1976

spouse or partner means spouse, civil union partner, or de facto partner.

(3)

See also regulation 58 for another relationship property exemption.

Regulation 45: inserted, on 22 October 2018, by regulation 10 of the Overseas Investment Amendment Regulations 2018 (LI 2018/154).