57H Factors for determining whether or not overseas investment in fishing quota will, or is likely to, benefit New Zealand
What are the factors

(1)

The factors for assessing the benefit of overseas investments in fishing quota are whether the overseas investment will, or is likely to,—

(a)

result in economic benefits for New Zealand (for example, the creation and retention of jobs, introduction of technology or business skills, increased export receipts, increased processing in New Zealand of fish, aquatic life, or seaweed, or a reduced risk of illiquid assets):

(b)

result in benefits to the natural environment (for example, protection of indigenous fish or mitigation of environmental impacts by innovations in fishing technologies):

(c)

give effect to or advance a significant Government policy:

(d)

involve oversight of, or participation in, the overseas investment and any relevant overseas person by persons who are not overseas persons:

(e)

result in other consequential benefits to New Zealand.

How factors must be considered

(2)

Section 17(2) of the Overseas Investment Act 2005 applies with necessary modifications.

Section 57H: replaced, on 24 November 2021, by section 38 of the Overseas Investment Amendment Act 2021 (2021 No 17).