Part 2Consent and conditions regime
Miscellaneous provisions
61Regulations
The Governor-General may, by Order in Council made on the recommendation of the Minister, make regulations for all or any of the following purposes:
- prescribing classes of dwellings not to be treated as residential dwellings in this Act:
- prescribing additional classes of facilities to be treated as excluded accommodation facilities in this Act:
- prescribing classes of profits à prendre not to be treated as regulated profits à prendre in this Act:
- determining how to measure value or apply the value thresholds under section 13:
- prescribing, for the purposes of the criteria in section 16(1)(f), when and how farm land or section 12 interests must be advertised for acquisition to persons who are not overseas persons (including what is required for open market advertising):
- making provision referred to in section 16A(4)
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- prescribing fees and charges to be paid, or the amounts to be charged, a means by which they may be calculated and ascertained, or a rate at which they may be calculated or ascertained, for the purpose of meeting or assisting in meeting costs of Ministers and the regulator in exercising functions and powers, and performing duties, and providing services, under this Act (and those fees and charges may be set so as to meet any shortfall in cost recovery for any of the preceding 4 financial years, and allowance may be made for any over-recovery of costs in those years, including any estimated shortfall or over-recovery for the immediately preceding financial year):
- prescribing the criteria relating to control and influence by government that relevant government enterprises must meet for the purpose of an exemption under section 20AA:
- prescribing maximum bonds to be charged under section 25, a means by which bonds may be calculated or ascertained, or a rate at which bonds may be calculated or ascertained, for the purpose of meeting estimated reasonable costs of Ministers and the regulator in monitoring compliance with a condition or conditions of consent or exemption, and providing for the payment, and repayment if conditions are met, of those bonds:
- prescribing maximum administrative penalties to be charged by the regulator, a means by which administrative penalties may be calculated or ascertained, or a rate at which administrative penalties may be calculated or ascertained, for the purposes of sections 52 and 53:
- exempting or providing for exemptions from, or waivers, refunds, or discounting of, fees, charges, amounts, or administrative penalties:
- implementing obligations that have entered into force for New Zealand before the commencement of section 46 of the Overseas Investment Amendment Act 2018 under any international agreements to which New Zealand is a party and that relate to overseas investments in sensitive land:
- specifying types of overseas persons for the purposes of clauses 4(2)(d) and 7 of Schedule 2 where necessary to implement obligations that have entered into force for New Zealand before the commencement of section 46 of the Overseas Investment Amendment Act 2018 under any international agreements to which New Zealand is a party and that relate to overseas investments in sensitive land:
- prescribing, for the purposes of clauses 7 and 8 of Schedule 2,—
- the process for considering whether a person remains committed to residing in New Zealand, including relevant factors (which may be non-exhaustive):
- additional ways in which a trigger event is resolved:
- the process for considering whether a person remains committed to residing in New Zealand, including relevant factors (which may be non-exhaustive):
- setting a maximum percentage of new residential dwellings in a development that an exemption certificate may be applied to, including a nil percentage:
- providing for applications for exemptions:
- prescribing matters for the purposes of section 61G, including listing exemptions for the purposes of that section, prescribing circumstances in which that section does not apply, specifying classes of conditions to which section 61G(3) applies, and providing for matters under section 61G(5):
- providing for and regulating the giving or service of notices for the purposes of this Act, and the effect of those notices:
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- prescribing enactments for the purposes of rows 10 and 11 of table 2 in Part 1 of Schedule 1:
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- providing for transitional provisions:
- providing for any other matters contemplated by this Act or necessary for its administration or necessary for giving it full effect.
Regulations under this Act (including regulations for prescribing fees, charges, bonds, or administrative penalties) may make different provisions for different cases on any differential basis.
Any exemptions made in respect of the matters in subsection (1)(lc) are revoked on the 42nd day after the date on which the Overseas Investment Amendment Act (No 3) 2020 receives the Royal assent.
The Minister must, at least once in every period of 4 financial years, commence a review of fees and charges set under subsection (1)(e).
Regulations under this section are secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements).
If regulations authorise a person to grant exemptions, waivers, refunds, or discounts referred to in subsection (1)(h),—
- an instrument granting an exemption or a waiver, refund, or discount is secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements), unless it applies only to 1 or more named persons; and
- the regulations must contain a statement to that effect.
Notes
- Section 61(1)(aaa): inserted, on , by section 46(1) of the Overseas Investment Amendment Act 2018 (2018 No 25).
- Section 61(1)(aab): inserted, on , by section 46(1) of the Overseas Investment Amendment Act 2018 (2018 No 25).
- Section 61(1)(aac): inserted, on , by section 46(1) of the Overseas Investment Amendment Act 2018 (2018 No 25).
- Section 61(1)(b): replaced, on , by section 25(1) of the Overseas Investment Amendment Act 2021 (2021 No 17).
- Section 61(1)(ba): inserted, on , by section 46(2) of the Overseas Investment Amendment Act 2018 (2018 No 25).
- Section 61(1)(ba): amended, on , by section 25(2) of the Overseas Investment Amendment Act 2021 (2021 No 17).
- Section 61(1)(c): repealed, on , by section 25(3) of the Overseas Investment Amendment Act 2021 (2021 No 17).
- Section 61(1)(ca): repealed, on , by section 25(3) of the Overseas Investment Amendment Act 2021 (2021 No 17).
- Section 61(1)(d): repealed, on , by section 25(3) of the Overseas Investment Amendment Act 2021 (2021 No 17).
- Section 61(1)(e): amended, on , by section 25(4) of the Overseas Investment Amendment Act 2021 (2021 No 17).
- Section 61(1)(ea): inserted, on , by section 25(5) of the Overseas Investment Amendment Act 2021 (2021 No 17).
- Section 61(1)(i): replaced, on , by section 46(4) of the Overseas Investment Amendment Act 2018 (2018 No 25).
- Section 61(1)(i): amended, on , by section 68A of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership Amendment Act 2018 (2016 No 90).
- Section 61(1)(j): replaced, on , by section 46(4) of the Overseas Investment Amendment Act 2018 (2018 No 25).
- Section 61(1)(ja): inserted, on , by section 46(4) of the Overseas Investment Amendment Act 2018 (2018 No 25).
- Section 61(1)(jb): inserted, on , by section 46(4) of the Overseas Investment Amendment Act 2018 (2018 No 25).
- Section 61(1)(ka): inserted, on , by section 46(5) of the Overseas Investment Amendment Act 2018 (2018 No 25).
- Section 61(1)(la): repealed, on , by section 25(3) of the Overseas Investment Amendment Act 2021 (2021 No 17).
- Section 61(1)(lb): replaced, on , by section 25(6) of the Overseas Investment Amendment Act 2021 (2021 No 17).
- Section 61(1)(lc): repealed, on , by section 25(3) of the Overseas Investment Amendment Act 2021 (2021 No 17).
- Section 61(2): replaced, on , by section 46(6) of the Overseas Investment Amendment Act 2018 (2018 No 25).
- Section 61(3): inserted, on , by section 48(2) of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).
- Section 61(4): inserted, on , by section 25(7) of the Overseas Investment Amendment Act 2021 (2021 No 17).
- Section 61(5): inserted, on , by section 3 of the Secondary Legislation Act 2021 (2021 No 7).
- Section 61(6): inserted, on , by regulation 112 of the Legislation Act (Amendments to Legislation) Regulations 2021 (LI 2021/247).