Overseas Investment Amendment Act 2021

Coat of Arms of New Zealand

Overseas Investment Amendment Act 2021

Public Act
 
2021 No 17
Date of assent
 
24 May 2021
Commencement
 
see section 2

Contents

1Title
2Commencement
3Principal Act
4Section 6 amended (Interpretation)
5Section 7 amended (Who are overseas persons)
6Section 12 replaced (What are overseas investments in sensitive land)
12What are overseas investments in sensitive land
7Section 13 amended (What are overseas investments in significant business assets)
8Section 16 amended (Criteria for consent for overseas investments in sensitive land)
9Section 16A amended (Benefit to New Zealand test)
10Section 17 replaced (Factors for assessing benefit of overseas investments in sensitive land)
17Factors for assessing benefit of overseas investments in sensitive land
11Section 20 replaced (Exemptions from farm land offer criterion)
20Exemptions from farm land offer criterion
12Section 20A amended (Transactions that are transactions of national interest)
13New section 20AA inserted (Exemptions from definition)
20AAExemptions from definition
14Section 20C amended (Consent may be declined if transaction contrary to national interest)
15Section 23A amended (Applications for standing consent in advance of transaction)
16Section 25A amended (Conditions of consent)
17New section 25D inserted (Automatic condition: transactions involving fresh or seawater areas)
25DAutomatic condition: transactions involving fresh or seawater areas
18Section 27A amended (Consent holder may apply for new consent)
19New section 29A inserted (Investor test applications where no change since investor test last met)
29AInvestor test applications where no change since investor test last met
20Section 37 repealed (Regulator must keep list of reserves, parks, and other sensitive areas)
21Section 37A amended (Regulator must publish list of sensitive adjoining land relating to collective group of Māori)
22New section 38A inserted (Information for tax purposes)
38AInformation for tax purposes
23Section 46 amended (Offence of false or misleading statement or omission)
24New section 60A inserted (Reinstatement of emergency notification regime)
60AReinstatement of emergency notification regime
25Section 61 amended (Regulations)
26Section 61B amended (Purpose of exemptions)
27Section 62 repealed (Foreshore, seabed, riverbed, or lakebed acquired by the Crown under consent process is not subdivision)
28Section 82 amended (What is call-in transaction and overseas investment in SIB assets)
29Section 85 amended (Military or dual-use technology and critical direct supplier call-in transactions)
30Section 126 amended (Power to use and disclose information relevant to managing certain risks)
31Schedule 1AA amended
32Schedule 1 amended
33New Schedule 1A inserted
34Schedule 2 amended
35Schedule 3 amended
36New Schedule 5 inserted
37Amendment to Fisheries Act 1996
38Sections 57G and 57H replaced
57GCriteria for overseas investments in fishing quota
57HFactors for determining whether or not overseas investment in fishing quota will, or is likely to, benefit New Zealand
39Amendment to Tax Administration Act 1994
40Section 3 amended (Interpretation)
Legislative history
Administrative information

The Parliament of New Zealand enacts as follows: