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Overseas Investment Act 2005

Consent and conditions regime - Transitional provisions and amendments to other enactments - Dissolution of Commission

65: No compensation for loss of office

You could also call this:

"You don't get paid if you lose your job because of the Overseas Investment Act."

If you stop holding a certain job because of the Overseas Investment Act, you will not get any money from the government. The government does not have to pay you for losing your job. You will not be compensated if you cease to hold an office that was established by or under the Overseas Investment Act 1973.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM358090.

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64: Assets and liabilities vest in the Crown, or

"The government gets all the Commission's belongings and debts when it is closed."

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"Move to LINZ and keep your job with the Reserve Bank"

Part 2Consent and conditions regime
Transitional provisions and amendments to other enactments: Dissolution of Commission

65No compensation for loss of office

  1. The Crown is not liable to make a payment to, or otherwise compensate, any person in respect of that person ceasing to hold any office established by or under the Overseas Investment Act 1973.