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Overseas Investment Act 2005

Consent and conditions regime - Miscellaneous provisions

61B: Purpose of exemptions

You could also call this:

"When following the law is too hard or expensive, you can get exemptions to make things easier"

The purpose of sections 61C and 61D is to give you flexibility when following this Act is impractical or too costly. You can get exemptions if they are minor or technical. The Minister can also allow exemptions for certain matters, such as land used for diplomatic purposes, or for charitable entities registered under the Charities Act 2005.

The Minister can exempt matters like minor increases in ownership by overseas people if consent has already been granted. You can also get exemptions for security arrangements made in the ordinary course of business, or for relationship property as defined in section 8 of the Property (Relationships) Act 1976. Exemptions can be given for land acquired to provide network utility services, or for residential land acquired to comply with the Resource Management Act 1991.

The Minister can allow exemptions for people or assets that are mostly owned and controlled by New Zealanders. Exemptions can also be given for matters that support the issuance of residential mortgage-backed securities, or for estates or interests in land that are not freehold or leasehold. This includes things like covenants, which are agreements about how land can be used.

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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=LMS111955.

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"Rules for overseas investments in New Zealand's significant businesses"

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61C: Regulations may contain class or individual exemptions, or

"Some people or groups can be exempt from following the usual rules, with the Governor-General's approval."

Part 2Consent and conditions regime
Miscellaneous provisions

61BPurpose of exemptions

  1. The purpose of sections 61C and 61D is to—

  2. provide flexibility where compliance with this Act is impractical, inefficient, unduly costly, or unduly burdensome, taking into account the sensitivity of the sensitive assets and the nature of the overseas investment transaction; or
    1. allow for exemptions that are minor or technical; or
      1. allow for exemptions in respect of all or any of the following matters:
        1. interests in land to be used for diplomatic or consular purposes:
          1. persons registered as a charitable entity under the Charities Act 2005:
            1. minor increases in ultimate ownership and control by overseas persons or associates of overseas persons if consent has already been granted for those overseas persons to own or control sensitive assets:
              1. security arrangements that are entered into in the ordinary course of business:
                1. relationship property as defined in section 8 of the Property (Relationships) Act 1976:
                  1. interests in land acquired for the purpose of providing network utility services:
                    1. interests in residential (but not otherwise sensitive) land acquired in order to comply with a requirement imposed by or under the Resource Management Act 1991 and to support a business that is not principally in the business of using land for residential purposes:
                      1. persons, transactions, rights, interests, or assets that the Minister considers to be majority owned and substantively controlled by New Zealanders:
                        1. persons, transactions, rights, interests, or assets that the Minister considers support, or are related to, the issuance or management of residential mortgage-backed securities complying with a standard created or endorsed by the Reserve Bank:
                          1. estates or interests in land other than freehold or leasehold (for example, covenants).

                          Notes
                          • Section 61B: inserted, on , by section 47 of the Overseas Investment Amendment Act 2018 (2018 No 25).
                          • Section 61B(a): replaced, on , by section 49(1) of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).
                          • Section 61B(c)(iii): replaced, on , by section 26(1) of the Overseas Investment Amendment Act 2021 (2021 No 17).
                          • Section 61B(c)(vii): amended, on , by section 6 of the Resource Management (Natural and Built Environment and Spatial Planning Repeal and Interim Fast-track Consenting) Act 2023 (2023 No 68).
                          • Section 61B(c)(viii): replaced, on , by section 26(2) of the Overseas Investment Amendment Act 2021 (2021 No 17).
                          • Section 61B(c)(ix): inserted, on , by section 49(2) of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).
                          • Section 61B(c)(x): inserted, on , by section 26(3) of the Overseas Investment Amendment Act 2021 (2021 No 17).