Overseas Investment Amendment Regulations 2018

Schedule Schedule 2 replaced

r 20

Schedule 2 Fees and charges

r 33

Part 1 Applications relating to transaction in category of overseas investment in sensitive land only—residential land

The fees in this Part apply to transactions that will result in an overseas investment in sensitive land only, where all of the relevant land is residential land.

Application($)
1For consent for a transaction involving a land decision only, on the basis of section 16(1)(b)(i)(A) of the Act (the commitment to reside in New Zealand test), where the land is residential (but not otherwise sensitive) land—
(a)

if the applicant is 1 or more individuals

2,040
(b)

if the applicant is a company, trust, or limited partnership or any person other than 1 or more individuals

3,900
(c)

if the application is for a waiver relating to a trigger event under clause 8 of Schedule 2 of the Act

550
(d)

if the application is for a variation of the consent or a condition of the consent

550
2For consent for a transaction involving a land decision only, on the basis of section 16(1)(d)(i) of the Act (the commitment to reside in New Zealand test), where the land is both residential and otherwise sensitive land—
(a)

where the value of the consideration to be provided for the overseas investment in sensitive land is stated in the application and is less than $1 million

24,600
(b)

where the value of the consideration to be provided for the overseas investment in sensitive land is stated in the application and is $1 million or more or is not stated in the application

31,600
(c)

if the application is for a waiver relating to a trigger event under clause 8 of Schedule 2 of the Act

550
3For consent for a transaction involving a land decision only, on the basis of section 16(1)(b)(i)(B) of the Act (the increased housing test),—
(a)

if the investor test does not apply to the overseas investment because circumstance 2 in section 16(3)(b) applies

2,040
(b)

if the investor test does apply to the overseas investment

34,100
4For each exemption certificate under clause 6 of Schedule 1AA of the Act (exemption relating to dwellings in large apartment developments where sales of dwellings have begun before assent date),—
(a)

on application to grant an exemption certificate

25,500
(b)

on application to vary an exemption certificate

13,000
5For each exemption certificate under clause 4(2) of Schedule 3 (dwellings in large apartment developments that are purchased off plans)27,600
6For consent for a transaction involving a land decision only, on the basis of section 16(1)(b)(i)(C) of the Act (the non-residential use test)34,100
7For consent for a transaction involving a land decision only, on the basis of section 16(1)(b)(i)(D) of the Act (the incidental residential use test)34,100
8For consent for a transaction involving a land decision only, on the basis of section 16(1)(b)(ii) of the Act (the benefit to New Zealand test) and where section 16A(1)(b) is not applicable,—
(a)

where the value of the consideration to be provided for the overseas investment in sensitive land is stated in the application and is less than $1 million,—

(i)

where the determination is made by the relevant Ministers

37,500
(ii)

where the determination is made by the regulator under delegation

35,500
(b)

where the value of the consideration to be provided for the overseas investment in sensitive land is stated in the application and is $1 million or more or is not stated in the application,—

(i)

where the determination is made by the relevant Ministers

43,500
(ii)

where the determination is made by the regulator under delegation

41,500
9For consent for a transaction involving a land decision only, on the basis of section 16(1)(b)(ii) of the Act (the benefit to New Zealand test) and where section 16A(1)(b) is applicable,—
(a)

where the value of the consideration to be provided for the overseas investment in sensitive land is stated in the application and is less than $1 million,—

(i)

where the determination is made by the relevant Ministers

42,500
(ii)

where the determination is made by the regulator under delegation

40,500
(b)

where the value of the consideration to be provided for the overseas investment in sensitive land is stated in the application and is $1 million or more or is not stated in the application,—

(i)

where the determination is made by the relevant Ministers

49,000
(ii)

where the determination is made by the regulator under delegation

47,000
10For consent for a transaction involving a land decision only, on the basis of more than 1 of the circumstances in items 1 to 9 (for example, a transaction relying on both the increased housing test and the non-residential use test)34,100
11For a standing consent under clause 2 of Schedule 4 of the Act (increased housing test, non-residential use test, or incidental residential use test),—
(a)

on application

34,100
(b)

for each transaction of which the regulator must be notified under a condition imposed under clause 2(3)(c) of Schedule 4 of the Act

13,000
12For any other variation of consent or conditions of consent (including addition to and revocation of conditions of consent) referred to in this Part13,000
13For each exemption under section 61D of the Act (Minister may grant individual exemptions) in respect of residential land25,500

Part 2 Applications relating to transaction in category of overseas investment in sensitive land only—forestry activities and profits à prendre

The fees in this Part apply to transactions that will result in an overseas investment in sensitive land only, where all of the relevant land is used exclusively or nearly exclusively for forestry activities, or all of the relevant land is a regulated profit à prendre.

Application ($)
14For consent for a transaction involving a land decision only, on the basis that section 16A(3) of the Act be applied (the modified benefits test),—
(a)

where the value of the consideration to be provided for the overseas investment in sensitive land is stated in the application and is less than $1 million

44,600
(b)

where the value of the consideration to be provided for the overseas investment in sensitive land is stated in the application and is $1 million or more or is not stated in the application

51,100
15For consent for a transaction involving a land decision only, on the basis that the application be considered in accordance with section 16A(4) of the Act (the special test relating to forestry activities)34,100
16For a standing consent under clause 3 of Schedule 4 of the Act (forestry activities)—
(a)

on application

34,100
(b)

for each transaction of which the regulator must be notified under a condition imposed under clause 3(3)(c) of Schedule 4 of the Act

13,000
17For consent for a transaction involving a land decision only, if the only interest in land described in section 12(a) is 1 or more regulated profits à prendre (other than forestry rights) on the basis that section 16A(1) of the Act be applied—
(a)

where the value of the consideration to be provided for the overseas investment in sensitive land is stated in the application and is less than $1 million

42,600
(b)

where the value of the consideration to be provided for the overseas investment in sensitive land is stated in the application and is $1 million or more or is not stated in the application

49,100
18For variation of consent or conditions of consent (including addition to and revocation of conditions of consent) in respect of forestry activities or profits à prendre13,000
19For each exemption under section 61D of the Act (Minister may grant individual exemptions) in respect of forestry activities or profits à prendre25,500

Part 3 Other applications relating to transaction in category of overseas investment in sensitive land only

The fees in this Part apply to transactions that will result in an overseas investment in sensitive land only, and to which Parts 1 and 2 do not apply.

ApplicationDetermination by relevant Ministers or by regulator under delegation($)
20For consent for a transaction involving a land decision only, on the basis of section 16(1)(c)(i) of the Act,—
(a)

where the value of the consideration to be provided for the overseas investment in sensitive land is stated in the application and is less than $1 million

Relevant Ministers or regulator22,500
(b)

where the value of the consideration to be provided for the overseas investment in sensitive land is stated in the application and is $1 million or more or is not stated in the application

Relevant Ministers or regulator29,500
21For consent for a transaction involving a land decision only, on the basis of section 16(1)(c)(ii), (d)(ii), or (e) of the Act (the benefit to New Zealand test) and where section 16A(1)(b) is not applicable,—
(a)

where the value of the consideration to be provided for the overseas investment in sensitive land is stated in the application and is less than $1 million

Relevant Ministers37,500
Regulator35,500
(b)

where the value of the consideration to be provided for the overseas investment in sensitive land is stated in the application and is $1 million or more or is not stated in the application

Relevant Ministers43,500
Regulator41,500
22For consent for a transaction involving a land decision only, on the basis of section 16(1)(c)(ii), (d)(ii), or (e) of the Act (the benefit to New Zealand test) and where section 16A(1)(b) is applicable,—
(a)

where the value of the consideration to be provided for the overseas investment in sensitive land is stated in the application and is less than $1 million

Relevant Ministers42,500
Regulator40,500
(b)

where the value of the consideration to be provided for the overseas investment in sensitive land is stated in the application and is $1 million or more or is not stated in the application

Relevant Ministers49,000
Regulator47,000
23For variation of consent or conditions of consent (including addition to and revocation of conditions of consent)Relevant Ministers or regulator13,000
24For each exemption under section 61D of the Act (Minister may grant individual exemptions)Relevant Ministers or regulator25,500

Part 4 Applications relating to transaction in category of overseas investment in significant business assets only

The fees in this Part apply to transactions that will result in an overseas investment in significant business assets only.

Application($)
25For consent for a transaction involving a business decision only32,000
26For variation of consent or conditions of consent (including addition to and revocation of conditions of consent)13,000
27For each exemption under section 61D of the Act (Minister may grant individual exemptions)25,500

Part 5 Applications relating to transaction in categories of overseas investment in sensitive land and significant business assets only

The fees in this Part apply to transactions that will result in both an overseas investment in sensitive land and an overseas investment in significant business assets, but will not result in an overseas investment in fishing quota.

ApplicationDetermination by relevant Ministers or by regulator under delegation($)
28For consent for a transaction involving a land decision on the basis of section 16(1)(b)(ii), (c)(ii), (d)(ii), or (e) of the Act (the benefit to New Zealand test) and a business decisionRelevant Ministers54,000
Regulator52,000
29For consent for a transaction involving any other land decision and a business decisionRelevant Ministers or regulator34,100
30For variation of consent or conditions of consent (including addition to and revocation of conditions of consent)Relevant Ministers or regulator13,000
31For each exemption under section 61D of the Act (Minister may grant individual exemptions)Relevant Ministers or regulator25,500

Part 6 Applications relating to overseas investment in fishing quota

The fees in this Part apply to transactions that will result in an overseas investment in fishing quota, whether or not the transaction also results in an overseas investment in sensitive land or an overseas investment in significant business assets.

Application($)
32For consent for a transaction40,000
33For variation of consent or conditions of consent (including addition to and revocation of conditions of consent)13,000
34For each exemption under section 61D of the Act (Minister may grant individual exemptions)40,000

Part 7 Other applications

Application($)
35For each exemption under section 61D of the Act (Minister may grant individual exemptions) by addition to Schedule 3 (which relates to portfolio investors) or Schedule 4 (which relates to New Zealand controlled persons),—
(a)

application for exemption

$560 per hour
(b)

monitoring compliance with conditions of exemption

$560 per hour

Part 8 Information and services

Request($)
36For provision of information or services$168 per hour

Michael Webster,
Clerk of the Executive Council.