Overseas Investment Amendment Bill (No 3)

  • enacted

Hon David Parker

Overseas Investment Amendment Bill (No 3)

Government Bill

265—2

Contents

Commentary
Key
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
6ASection 13 amended (What are overseas investments in significant business assets)
7Section 16 amended (Criteria for consent for overseas investments in sensitive land)
8Section 16A amended (Benefit to New Zealand test)
9Section 17 replaced (Factors for assessing benefit of overseas investments in sensitive land)
17Factors for assessing benefit of overseas investments in sensitive land
10Section 20 replaced (Exemptions from farm land offer criterion)
20Exemptions from farm land offer criterion
10ASection 20A amended (Transactions that are transactions of national interest)
10BNew section 20AA inserted (Exemptions from definition)
20AAExemptions from definition
10CSection 20C amended (Consent may be declined if transaction contrary to national interest)
10ESection 23A amended (Applications for standing consent in advance of transaction)
11Section 25A amended (Conditions of consent)
12New section 25D inserted (Automatic condition: transactions involving fresh or seawater areas)
25DAutomatic condition: transactions involving fresh or seawater areas
13Section 27A amended (Consent holder may apply for new consent)
14New 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
15Section 37 repealed (Regulator must keep list of reserves, parks, and other sensitive areas)
15ASection 37A amended (Regulator must publish list of sensitive adjoining land relating to collective group of Māori)
16New section 38A inserted (Information for tax purposes)
38AInformation for tax purposes
17Section 46 amended (Offence of false or misleading statement or omission)
18New section 59A 60A inserted (Reinstatement of emergency notification regime)
59A 60AReinstatement of emergency notification regime
19Section 61 amended (Regulations)
19ASection 61B amended (Purpose of exemptions)
20Section 62 repealed (Foreshore, seabed, riverbed, or lakebed acquired by the Crown under consent process is not subdivision)
20ASection 82 amended (What is call-in transaction and overseas investment in SIB assets)
20BSection 85 amended (Military or dual-use technology and critical direct supplier call-in transactions)
20CSection 126 amended (Power to use and disclose information relevant to managing certain risks)
21Schedule 1AA amended
22Schedule 1 amended
23New Schedule 1A inserted
24Schedule 2 amended
25Schedule 3 amended
26New Schedule 5 inserted
27Amendment to Fisheries Act 1996
28Sections 57G to 57I 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
29Amendment to Tax Administration Act 1994
30Section 3 amended (Interpretation)
Legislative history

The Parliament of New Zealand enacts as follows: