Part 2Consent and conditions regime
Administration
34Ministerial directive letter
The Minister may direct the regulator by a Ministerial directive letter, and the regulator must comply with it.
Subsection (1) applies even if the subject matter of the Ministerial directive letter relates to a power that has been delegated to the regulator.
A Ministerial directive letter may direct the regulator about the following things:
- the Government's general policy approach to overseas investment in sensitive New Zealand assets, including the relative importance of different criteria or factors in relation to particular assets:
- the asset types, value thresholds, and area thresholds over which the regulator has power to make decisions:
- conditions of consents or direction orders, including conditions that this Act requires be imposed:
- the level of monitoring required in relation to conditions of consent:
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- any general or specific matter relating to the regulator's functions, powers, or duties.
A Ministerial directive letter is secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements).
Notes
- Section 34(3)(ba): replaced, on , by section 23 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).
- Section 34(3)(d): repealed, on , by section 20(2) of the Overseas Investment Amendment Act 2021 (2021 No 17).
- Section 34(4): inserted, on , by section 3 of the Secondary Legislation Act 2021 (2021 No 7).