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Overseas Investment Act 2005

Preliminary provisions

4: Overview

You could also call this:

"What the Overseas Investment Act 2005 is about and how it works in New Zealand"

This Act is about overseas investments in New Zealand. You will find information on how the Act works in different parts. The first part deals with introductory matters.

The Act has different sections that explain how overseas investments are managed in New Zealand. You can find information on when consent is required for overseas investments in Part 2. This part also explains how to get consent and what conditions might be imposed.

There is also a section on managing risks, such as national security risks, in Part 3. This Act replaces an older Act from 1973 and some regulations from 1995. This overview is just a guide to help you understand the Act.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM356888.

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3: Purpose, or

"This law helps protect important New Zealand assets from overseas owners by setting rules and conditions."

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5: Act incorporates sections 56 to 58B of Fisheries Act 1996, or

"This Act includes fishing investment rules from the Fisheries Act 1996."

Part 1Preliminary provisions

4Overview

  1. In this Act,—

  2. this Part deals with preliminary matters, including the purpose of this Act and interpretation:
    1. Part 2 contains the consent and conditions regime for overseas investments in sensitive New Zealand assets, and is organised as follows:
      1. subpart 1 states when consent is required and the criteria for consent (except that those matters are stated in the Fisheries Act 1996 for overseas investments in fishing quota):
        1. subpart 2 sets out the procedure for obtaining consent and imposing conditions of consent:
          1. subpart 3 describes the role of the person (the regulator) who administers the regime:
            1. subpart 4 confers information-gathering powers on the regulator:
              1. subpart 5 deals with aspects of enforcement, including offences under this Act, penalties, and the court's powers to make orders for effective enforcement:
                1. subpart 6 relates to regulations and other miscellaneous matters:
                  1. subpart 7 contains transitional provisions (mostly relating to the dissolution of the Overseas Investment Commission and the employment consequences for its employees) and amendments to other enactments (and see also Schedule 1AA for further transitional, savings, and related provisions):
                  2. Part 3 contains the management regime for certain risks, such as national security and public order risks, for transactions by overseas persons, and is organised as follows:
                    1. subpart 1 provides for the review of call-in transactions:
                      1. subpart 2 sets out the details of the risk management actions that may be taken to manage certain risks: direction orders, prohibition orders, disposal orders, and statutory management:
                        1. subpart 3 deals with the protection of classified security information:
                          1. subpart 4 relates to regulations and other miscellaneous matters.

                          2. This Act replaces the Overseas Investment Act 1973 and the Overseas Investment Regulations 1995.

                          3. This section is a guide only to the general scheme and effect of this Act.

                          Notes
                          • Section 4(1)(b)(iv): amended, on , by section 7(1) of the Overseas Investment Amendment Act 2018 (2018 No 25).
                          • Section 4(1)(b)(vii): amended, on , by section 7(2) of the Overseas Investment Amendment Act 2018 (2018 No 25).
                          • Section 4(1)(c): inserted, on , by section 5 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).
                          • Section 4(1)(c)(iii): amended, on , by section 33 of the Security Information in Proceedings (Repeals and Amendments) Act 2022 (2022 No 72).