Part 2Consent and conditions regime
Administration
32Delegation by relevant Minister or Ministers
The relevant Minister or Ministers may delegate to the regulator or any other person any of his or her or their powers or functions under this Act or regulations (including this power of delegation).
However, the following cannot be delegated in accordance with subsection (1):
- a decision under section 20B to advise an applicant that a transaction is a transaction of national interest:
- a decision under section 20C that a transaction of national interest is contrary to New Zealand’s national interest:
- a decision under section 88, 90, 92, 93, or 96 that a call-in transaction, or an event, or the actions of an overseas person or their associate, gives rise, or is likely to give rise, to a risk referred to in section 81:
- a decision under section 92, 93, or 96 that a risk referred to in section 81 cannot be adequately managed in another manner or that the risk is too significant to allow a transaction to be given effect to.
See also section 20B(2) or 20C(2) (a person making a decision under section 24 cannot also exercise the Minister’s power under section 20B(1) or 20C(1)).
Notes
- Section 32(2): inserted, on , by section 22 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).
- Section 32(3): inserted, on , by section 22 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).