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Overseas Investment Act 2005

Consent and conditions regime - Information-gathering powers

41: Regulator may require information and documents to be provided

You could also call this:

"The regulator can ask for information or documents to check people are following the rules."

The regulator can ask you for information or documents if they think it's necessary. They will send you a written notice telling you what they need and when they need it. You must give them the information or documents they ask for.

The regulator needs this information for certain purposes, such as checking if people are following the rules. They also need it to investigate if something is against the national interest or if it's a risk to national security or public order. They use this information to make sure everyone is doing the right thing.

If you get a notice from the regulator, you must do what it says within the given time. The regulator can keep or copy any information or documents you give them. This rule does not limit what is said in sections 38 to 40.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM358055.

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"Protection for people who have to share information or documents"

Part 2Consent and conditions regime
Information-gathering powers

41Regulator may require information and documents to be provided

  1. If the regulator has reasonable grounds to believe that it is necessary or desirable for 1 or more of the purposes set out in subsection (1A), the regulator may, by written notice, require any person (A)—

  2. to provide to the regulator, within the time and in the manner specified in the notice, any information or class of information specified in the notice; or
    1. to provide to the regulator any document or class of documents specified in the notice (within the time and in the manner specified in the notice); or
      1. if necessary, to reproduce, or assist in reproducing, in usable form, information recorded or stored in any document or class of documents specified in the notice (within the time and in the manner specified in the notice).

        1. The purposes are as follows:

        2. monitoring compliance with this Act or the regulations (or both):
          1. investigating whether a transaction is an overseas investment transaction or a call-in transaction:
            1. investigating whether a transaction, an event, or a matter is contrary to the national interest or gives rise to, or is likely to give rise to, a significant risk to national security or public order:
              1. investigating conduct that constitutes or may constitute a contravention, or an involvement in a contravention, of this Act or the regulations (or both):
                1. investigating conduct that constitutes or may constitute an offence under this Act:
                  1. enforcing this Act or the regulations (or both).

                    1. A must comply with the regulator's notice within the time, and in the manner, specified in it.

                    2. Repealed

                    3. The regulator may retain or copy any information or document that is provided under this section.

                    4. Sections 38 to 40 do not limit this section.

                    Notes
                    • Section 41 heading: amended, on , by section 29(1) of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).
                    • Section 41 heading: amended, on , by section 34(1) of the Overseas Investment Amendment Act 2018 (2018 No 25).
                    • Section 41(1): replaced, on , by section 34(2) of the Overseas Investment Amendment Act 2018 (2018 No 25).
                    • Section 41(1A): inserted, on , by section 34(2) of the Overseas Investment Amendment Act 2018 (2018 No 25).
                    • Section 41(1A)(aa): inserted, on , by section 29(2) of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).
                    • Section 41(1A)(ab): inserted, on , by section 29(2) of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).
                    • Section 41(2): amended, on , by section 34(3) of the Overseas Investment Amendment Act 2018 (2018 No 25).
                    • Section 41(3): repealed, on , by section 34(4) of the Overseas Investment Amendment Act 2018 (2018 No 25).
                    • Section 41(5): inserted, on , by section 34(5) of the Overseas Investment Amendment Act 2018 (2018 No 25).