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Overseas Investment Act 2005

Consent and conditions regime - Information-gathering powers

40: Regulator may require person to provide statutory declaration as to compliance

You could also call this:

"The regulator can ask you to sign a special paper to prove you're following the rules."

The regulator can ask you to provide a statutory declaration to show you are following the rules. You have to tell the regulator how well you are following the rules and if you are not following them, you have to explain why and what you will do to fix it. You must give the regulator the declaration by the time and in the way they say. If you make a declaration, it can only be used in court for certain cases, like those under section 46.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM358054.

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Part 2Consent and conditions regime
Information-gathering powers

40Regulator may require person to provide statutory declaration as to compliance

  1. The regulator may, by notice in writing, require a person (A) who is required to comply with a term or condition of a consent, an exemption, an exemption certificate, a direction order, an interim direction order, a prohibition order, or a disposal order to provide the regulator with a statutory declaration verifying—

  2. the extent to which A has complied with the term or condition; and
    1. if A is in breach of a term or condition, the reasons for the breach and the steps that A intends to take to remedy the breach.

      1. A must provide the declaration—

      2. within the time, and in the manner, specified in the notice; or
        1. if the notice specifies that A must provide the declaration at intervals, at those intervals.

          1. A declaration that is made under this section is not admissible in evidence in any proceedings under this Act except proceedings under section 46.

          Notes
          • Section 40: replaced, on , by section 33 of the Overseas Investment Amendment Act 2018 (2018 No 25).
          • Section 40 heading: amended, on , by section 28(1) of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).
          • Section 40(1): replaced, on , by section 28(2) of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).