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Overseas Investment Act 2005

Consent and conditions regime - Procedure for making an application for consent and for granting consent

23A: Applications for standing consent in advance of transaction

You could also call this:

"Apply early for permission to make overseas investments in sensitive land"

You can apply for a standing consent for one or more transactions involving overseas investments in sensitive land. This application can be made before the transactions happen, and it must be for a type of transaction described in your application. You can find more information about when you can apply for a standing consent in Schedule 4.

A standing consent is like a permission to make an overseas investment, but it is subject to the rules in Schedule 4 and is for the purposes of section 10(1)(a). You need to make sure your transaction is not one of the types referred to in section 20A(1)(c) or (d), because a standing consent does not cover those.

You should know that a standing consent only applies to the specific transactions you described in your application, and it is not a general permission to make any overseas investment.

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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=LMS111133.

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Part 2Consent and conditions regime
Procedure for making an application for consent and for granting consent

23AApplications for standing consent in advance of transaction

  1. A person may, in the circumstances set out in Schedule 4, apply for a consent (a standing consent) for 1 or more transactions in respect of 1 or more overseas investments in sensitive land—

  2. that have not been entered into at the time when the application is made and when the standing consent is granted; and
    1. that fall within a class of transactions described in the application.

      1. A standing consent is a consent to give effect to an overseas investment under a transaction for the purposes of section 10(1)(a), subject to Schedule 4.

      2. However, a standing consent is not a consent to give effect to an overseas investment under a transaction of a type referred to in section 20A(1)(c) or (d).

      Notes
      • Section 23A: inserted, on , by section 16 of the Overseas Investment Amendment Act 2018 (2018 No 25).
      • Section 23A(3): inserted, on , by section 15 of the Overseas Investment Amendment Act 2021 (2021 No 17).