Plain language law

New Zealand law explained for everyone

Overseas Investment Act 2005

Consent and conditions regime - Procedure for making an application for consent and for granting consent

25: Granting or refusal of consent

You could also call this:

"The Minister says yes or no to overseas investment applications"

When you apply for consent under the Overseas Investment Act 2005, the Minister can grant or refuse it. The Minister can grant consent for a specific transaction, instrument, or person, or for a group of them. The Minister can also grant consent with conditions, such as paying a bond.

If the Minister grants consent, it can be for the whole transaction or just part of it. The Minister can even grant consent after the transaction has happened, which is called retrospective consent. You can find more information about cancelling a transaction in section 29(1)(c), but if you have retrospective consent, you cannot cancel the transaction.

The Minister has the power to make decisions about consent, and they can choose to refuse it if they want to. This means that if you apply for consent, you might get it, but you might not. The Minister's decision will depend on the specific circumstances of your application.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM358037.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesGovernment and voting > Government departments
Previous

24: Who decides application, or

"Who gets to say yes or no to your overseas investment application?"

Next

25A: Conditions of consent, or

"Rules you must follow when someone says yes to your overseas investment"

Part 2Consent and conditions regime
Procedure for making an application for consent and for granting consent

25Granting or refusal of consent

  1. A consent under this Act may be—

  2. granted in respect of a proposed or specified transaction, instrument, or person:
    1. granted in respect of classes of transactions, instruments, or persons that the relevant Minister or Ministers determine:
        1. granted subject to the payment of a bond:
          1. granted in whole or in part:
            1. granted retrospectively:
              1. refused.

                1. A transaction may not be cancelled under section 29(1)(c) if it has been granted retrospective consent.

                Notes
                • Section 25(1)(c): repealed, on , by section 17 of the Overseas Investment Amendment Act 2018 (2018 No 25).