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Overseas Investment Act 2005

Consent and conditions regime - Enforcement - Offences

42: Offence of giving effect to overseas investment without consent

You could also call this:

"Breaking the law by making an overseas investment without permission"

If you are required to apply for consent to an overseas investment transaction, you commit an offence if you give effect to the overseas investment without the consent required by this Act. You can be liable on conviction, and the penalty depends on whether you are an individual or not. If you are an individual, you can be imprisoned for up to 12 months or fined up to $300,000, and in any other case, you can be fined up to $300,000.

When a court imposes a penalty, it must consider the effect of any forfeiture of fishing quota under section 58 or section 58A of the Fisheries Act 1996, if the transaction involved an overseas investment in fishing quota. This means the court will think about how the forfeiture affects you. The court's decision will be based on the specifics of your case.

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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=DLM358058.

Topics:
Crime and justice > Criminal lawBusiness > Industry rulesEnvironment and resources > Farming and fishing
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43: Offence of defeating, evading, or circumventing operation of Act, or

"Breaking the Overseas Investment Act 2005 on purpose or by not caring about the rules is against the law"

Part 2Consent and conditions regime
Enforcement: Offences

42Offence of giving effect to overseas investment without consent

  1. A person who is required to apply for consent to an overseas investment transaction commits an offence if that person gives effect to the overseas investment without the consent required by this Act.

  2. A person who commits an offence under subsection (1) is liable on conviction,—

  3. in the case of an individual, to imprisonment for a term not exceeding 12 months or to a fine not exceeding $300,000:
    1. in any other case, to a fine not exceeding $300,000.

      1. In imposing a penalty under subsection (2), the court must, if the transaction resulted in an overseas investment in fishing quota and the fishing quota or an interest in it has been forfeited under section 58 or section 58A of the Fisheries Act 1996, have regard to the effect of the forfeiture on the defendant.

      Notes
      • Section 42(2): amended, on , by section 413 of the Criminal Procedure Act 2011 (2011 No 81).
      • Section 42(2)(b): amended, on , by section 31 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).