Overseas Investment Act 2005

Consent and conditions regime - When consent required and criteria for consent - Criteria for consent

14: Approach to criteria for consent

You could also call this:

"How the Minister decides whether to approve an overseas investment"

When you are thinking about whether to let an overseas investment happen, the Minister looks at certain criteria. They must think about the criteria that apply to the type of overseas investment it is. The Minister can also talk to other people if they want to.

The Minister must say yes to the investment if they are happy that it meets all the criteria in section 16 or section 18. If the Minister is not happy that it meets all the criteria, they must say no.

If an investment fits into more than one category, the Minister must look at the criteria for all of those categories. But if the criteria are the same for all categories, the Minister only needs to think about them once.

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Part 2Consent and conditions regime
When consent required and criteria for consent: Criteria for consent

14Approach to criteria for consent

  1. The relevant Minister or Ministers, in considering whether or not to grant consent to an overseas investment transaction,—

  2. must have regard to only the criteria and factors that apply to the relevant category of overseas investment under this subpart (subject to this section); and
    1. may consult with any other person or persons, as the Minister or Ministers think appropriate; and
      1. must grant consent if satisfied that all of the criteria in section 16 or section 18 (as the case may be) are met; and
        1. must decline to grant consent if not satisfied that all of the criteria in section 16 or section 18 are met.
          1. For a transaction that is in more than 1 category of overseas investment, the relevant Ministers must have regard to the criteria that apply to all of the relevant categories.

          2. However, if the criteria are the same, the relevant Ministers only need to consider the same criteria once (and not consider them under each relevant category).