Pursuant to section 61(1)(d) of the Overseas Investment Act 2005, His Excellency the Governor-General, acting on the advice and with the consent of the Executive Council and on the recommendation of the Minister of Finance, makes the following regulations.

1 Title

2 Commencement

3 Principal regulations amended

4 Application

5 Other factors for assessing benefit of overseas investment in sensitive land

Regulations

1 Title

These regulations are the Overseas Investment Amendment Regulations 2008.

2 Commencement

These regulations come into force on 4 March 2008.

3 Principal regulations amended

These regulations amend the Overseas Investment Regulations 2005.

4 Application

These regulations apply to all applications under the Overseas Investment Act 2005 that have not been decided as at the date on which these regulations come into force, irrespective of whether the application was made before, or is made after, that date.

5 Other factors for assessing benefit of overseas investment in sensitive land

Regulation 28 is amended by adding the following:
- “(h) whether the overseas investment will, or is likely to, assist New Zealand to maintain New Zealand control of strategically important infrastructure on sensitive land.”

Rebecca Kitteridge,
for Clerk of the Executive Council.

Explanatory note

This note is not part of the regulations, but is intended to indicate their general effect.

These regulations, which come into force on 4 March 2008, prescribe an additional factor that the relevant Ministers may apply under section 17(2)(g) of the Overseas Investment Act 2005.

Issued under the authority of the Acts and Regulations Publication Act 1989.

Date of notification in Gazette: 4 March 2008.

These regulations are administered by The Treasury.

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Overseas Investment Amendment Regulations 2008