Overseas Investment Act 2005

8 Meaning of associate and associated land

(1)

In this Act, a person (A) is an associate of another person (B) in relation to an overseas investment or any other matter if—

(a)

A is controlled by B or is subject to B’s direction:

(b)

A is B’s agent, trustee, or representative, or acts in any way on behalf of B, or is subject to B’s direction, control, or influence, in relation to the overseas investment or the other matter:

(c)

A acts jointly or in concert with B in relation to the overseas investment or the other matter:

(d)

A participates in the overseas investment or the other matter as a consequence of any arrangement or understanding with B:

(e)

A would come within any of paragraphs (a) to (d) if the reference to B in any of those paragraphs were instead a reference to another associate of B.

(2)

If A is an associate of B, B is also an associate of A.

(3)

For the purposes of subsection (1), it does not matter whether the control, direction, power, influence, arrangement, or other relationship between A and B is—

(a)

direct or indirect:

(b)

general or specific:

(c)

legally enforceable or not.

(4)

In this Act, land (land A) is associated land in respect of other land (land B) if—

(a)

land A adjoins land B or, in the case of land on an island listed in Part 2 of Schedule 1, land A and land B are on the same island; and

(b)

a person owns or controls, or will (as the result of any transaction entered into or to be entered into) own or control, (directly or indirectly) an estate or interest in land A (other than an exempted interest); and

(c)

the same person, or an associate of that person, owns or controls, or will (as the result of any transaction entered into or to be entered into) own or control, (directly or indirectly) an estate or interest in land B (other than an exempted interest).

Section 8(4)(b): amended, on 16 June 2020, by section 8 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).

Section 8(4)(c): amended, on 16 June 2020, by section 8 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).