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Overseas Investment Act 2005

Consent and conditions regime - Enforcement - Statement relating to compliance with consent requirement

51B: Regulator must authorise manner of providing statement

You could also call this:

"The regulator decides how you tell them you're following the rules."

Illustration for Overseas Investment Act 2005

The regulator must decide how you make a statement about following the rules. They do this by sending a notice that says what you must do. This notice can say what information you must include in the statement.

The regulator can also decide if you can use a special form to make the statement, or if you can include the statement in another document. They can even say if someone else can make the statement for you. You can learn more about how the regulator's notice works by looking at Part 3 of the Legislation Act 2019.

The regulator's notice is a type of secondary legislation, which is a set of rules made by the government.

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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=LMS112016.

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"When you buy a house or land, you must tell if you have permission to buy it."

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51C: Conveyancer must obtain and keep statement, or

"Conveyancers must get and keep a special statement to prove an investment follows the rules"

Part 2Consent and conditions regime
Enforcement: Statement relating to compliance with consent requirement

51BRegulator must authorise manner of providing statement

  1. The regulator must, by notice, authorise the manner in which the statement must be made, including by doing any of the following:

  2. specifying the required content of the statement, which may include any information that the regulator thinks relevant (for example, information relating to whether A or B is an overseas person, has or will have a consent, or is relying or will rely on an exemption):
    1. approving or prescribing 1 or more forms for the statement or 1 or more methods for making the statement (or both):
      1. allowing the statement to be included in another document (for example, in an agreement for sale and purchase):
        1. authorising the statement to be made and provided on A’s behalf (including the manner for doing so).

          1. The notice is secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements).

          2. Repealed
          Notes
          • Section 51B: inserted, on , by section 43 of the Overseas Investment Amendment Act 2018 (2018 No 25).
          • Section 51B(2): replaced, on , by section 3 of the Secondary Legislation Act 2021 (2021 No 7).
          • Section 51B(3): repealed, on , by section 3 of the Secondary Legislation Act 2021 (2021 No 7).