Plain language law

New Zealand law explained for everyone

Overseas Investment Act 2005

Consent and conditions regime - Transitional provisions and amendments to other enactments - Transitional provisions

77: Transitional provision for acts done or begun under previous overseas investment regime

You could also call this:

"What happens to things that were already underway when the new overseas investment rules started"

When the Overseas Investment Act 2005 started, some things were already happening under the old rules. The old rules are called the previous regime and they include the 1973 Act, the Regulations, sections 56 to 58 of the Fisheries Act 1996, and section 152(3) of Te Ture Whenua Maori Act 1993. These old rules still apply to some things that happened before the new Act started.

The old rules still apply for things like investigating offences that happened before the new Act started, or for applications that were made before the new Act started. This includes applications for consent or exemption under the Regulations, or for declarations or permissions under the Fisheries Act 1996. It also includes applications for confirmation of an alienation under Te Ture Whenua Maori Act 1993. You can still complete any proceedings that started under the old rules before the new Act started, but you have to follow section 71.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

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=DLM358547.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesHousing and property > Land useMāori affairs > Māori land
Previous

76: Repeal and revocations, or

"Stopping old investment laws from being used anymore"

Next

78: Transitional provision for consents, exemptions, and conditions under 1973 Act and Regulations, or

"Rules from the old law still apply to some overseas investments made before 2005"

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

77Transitional provision for acts done or begun under previous overseas investment regime

  1. In this section, the 1973 Act, the Regulations, sections 56 to 58 of the Fisheries Act 1996, and section 152(3) of Te Ture Whenua Maori Act 1993, as they were in force immediately before the commencement of sections 73, 74, and 76, are called the previous regime.

  2. The previous regime continues to have effect as if it had not been replaced by this Act (subject to section 71) for the purpose of—

  3. investigating any offence under or breach of the previous regime committed before the commencement of this section (commencement), commencing or completing proceedings for the offence or breach, or imposing a penalty or other remedy for the offence or breach:
    1. considering and determining any application for consent or exemption under the Regulations that is made before commencement or that relates to a transaction entered into before commencement:
      1. considering and determining any application for a declaration under section 56(2), or a permission under section 57, of the Fisheries Act 1996 that is made before commencement or that relates to a transaction entered into before commencement:
        1. considering and determining an application for confirmation of an alienation under section 152(3) of Te Ture Whenua Maori Act 1993:
          1. completing any proceedings commenced under the previous regime before commencement.