(1)
The requirement for consent does not apply to the extent that giving effect to a transaction has any of the following effects:
the acquisition by an overseas person of property if—
the property is, or will be as a result of the acquisition, relationship property of the overseas person and the overseas person’s spouse or partner; and
the overseas person’s spouse or partner is not an overseas person:
the acquisition by an overseas person of property as a result of a division of relationship property under the Property (Relationships) Act 1976:
the acquisition by a company incorporated in New Zealand (A Co) of property if—
all of the securities in A Co are wholly owned as relationship property by a person (B) and B’s spouse or partner; and
B is not an overseas person.
(2)
In this regulation,—
relationship property means relationship property as defined in section 8 of the Property (Relationships) Act 1976
spouse or partner means spouse, civil union partner, or de facto partner.
(3)
See also regulation 58 for another relationship property exemption.
Regulation 45: inserted, on 22 October 2018, by regulation 10 of the Overseas Investment Amendment Regulations 2018 (LI 2018/154).