Plain language law

New Zealand law explained for everyone

Overseas Investment Act 2005

Consent and conditions regime - Miscellaneous provisions

61C: Regulations may contain class or individual exemptions

You could also call this:

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

Illustration for Overseas Investment Act 2005

The Governor-General can make rules that let some people or transactions not follow the usual rules. You might not need to get consent for something, or you might not be considered an overseas person. The Minister has to recommend these rules, and they can apply to a whole group of people or transactions, or just to one person or transaction. You can find out more about what is required for these exemptions in sections 61E and 61F.

These rules are a type of law called secondary legislation, which has its own set of rules to follow. You can learn more about how these laws are published by looking at Part 3 of the Legislation Act 2019. This helps make sure that everyone knows about the new rules.

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 It might be out of date or be missing some parts.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=LMS112018.

Topics:
Business > Industry rulesMoney and consumer rights > Banking and loans
Previous

61B: Purpose of exemptions, or

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

Next

61D: Minister may grant individual exemptions, or

"The Minister can make exceptions for some people or deals"

Part 2Consent and conditions regime
Miscellaneous provisions

61CRegulations may contain class or individual exemptions

  1. The Governor-General may, by Order in Council made on the recommendation of the Minister, make regulations exempting any transaction, person, interest, right, or assets, or any class of transactions, persons, interests, rights, or assets, from the requirement for consent or from the definition of overseas person or associate or associated land.

  2. See sections 61E (criteria for all exemptions) and 61F (other provisions applying to all exemptions).

  3. Regulations under this section are secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements).

Notes
  • Section 61C: inserted, on , by section 47 of the Overseas Investment Amendment Act 2018 (2018 No 25).
  • Section 61C(3): inserted, on , by section 3 of the Secondary Legislation Act 2021 (2021 No 7).