Overseas Investment Act 2005

Consent and conditions regime - Enforcement - Administrative penalties

52: Administrative penalties for late filing

You could also call this:

"Paying a penalty for filing documents late with the government"

If you file a document late with the regulator, they may ask you to pay a penalty. The document could be one that is required by the Overseas Investment Act, regulations, or 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. The regulator can refuse to accept your document if you do not pay the penalty.

The regulator can take you to court to get the penalty money if you do not pay. They can do this in any court that has the power to deal with the issue. The penalty is like a debt that you owe to the government.

You can find more information about changes to this rule in section 45 of the Overseas Investment (Urgent Measures) Amendment Act 2020.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM358072.


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53: Administrative penalty for retrospective consent, or

"Paying a penalty when you apply late for permission to invest overseas"

Part 2Consent and conditions regime
Enforcement: Administrative penalties

52Administrative penalties for late filing

  1. The regulator may require a person to pay an administrative penalty if the person files, provides, or produces a document required by or under this Act, regulations, or 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 with the regulator after the time when the document must be filed, provided, or produced.

  2. The regulator may refuse to accept the document if the penalty has not been paid.

  3. The penalty is recoverable by the regulator in any court of competent jurisdiction as a debt due to the Crown.

Notes
  • Section 52(1): amended, on , by section 45 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).