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Overseas Investment Act 2005

Consent and conditions regime - Enforcement - Powers of court

50: Court may order interest to be paid

You could also call this:

"The court can make you pay extra money if you break the rules or don't pay on time."

If you break the Overseas Investment Act 2005 or do not follow a condition, you might have to pay money. You may also have to pay interest on the amount you owe. The court decides how much interest you have to pay.

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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=DLM358069.

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51: Court may order compliance with condition of consent, exemption, exemption certificate, direction order, or interim direction order, or

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Part 2Consent and conditions regime
Enforcement: Powers of court

50Court may order interest to be paid

  1. The court may order that a person who is in breach of this Act or a condition of a consent, an exemption, an exemption certificate, a direction order, or an interim direction order requiring the payment of money or on whom a fine or civil pecuniary penalty has been imposed under this Act must also pay interest on the amount to be paid.

  2. The court may fix the amount of interest in its discretion.

Notes
  • Section 50(1): amended, on , by section 40(a) of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).
  • Section 50(1): amended, on , by section 40(b) of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).
  • Section 50(1): amended, on , by section 41 of the Overseas Investment Amendment Act 2018 (2018 No 25).