15 Who are relevant overseas persons, and individuals with control, for overseas investments

(1)

The relevant Minister or Ministers may determine which 1 or more of the following persons is the relevant overseas person for an overseas investment:

(a)

the person making the overseas investment (A), whether A is an overseas person or an associate of an overseas person:

(b)

any associate of A in relation to the overseas investment.

(2)

The relevant Minister or Ministers may determine which 1 or more of the following categories of persons are the individuals with control of the relevant overseas person for an overseas investment:

(a)

the individual or individuals who each have a more than 25% ownership or control interest in the relevant overseas person:

(b)

the member or members of the governing body of the relevant overseas person:

(c)

the individual or body of individuals who the Minister or Ministers consider to have that control (whether directly or indirectly).

Section 15(2)(a): amended, on 16 June 2020, by section 11 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).