Overseas Investment Act 2005

Consent and conditions regime - Miscellaneous provisions

61F: Other provisions applying to all exemptions

You could also call this:

"Rules that apply to all exemptions from following certain laws"

Illustration for Overseas Investment Act 2005

When you get an exemption, it means you do not have to follow certain rules. You can find exemptions in regulations made under section 61C or granted under section 61D. An exemption can have conditions that you must follow.

If you rely on an exemption, the regulations made under section 61C can say what happens to the conditions of your consent. The regulations can also say that you are treated as a consent holder, or that you do not have to follow certain conditions. This can happen even if you are not a consent holder.

The Minister can change or cancel an exemption at any time, in the same way that it was made, such as under section 61E. When the Minister makes or grants an exemption, they must publish their reasons for doing so. However, the Minister might not publish the exemption or their reasons if they think it would be a good reason to keep them secret under the Official Information Act 1982.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS112021.


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61E: Criteria for all exemptions, or

"Rules for when the government can say it's okay to ignore some overseas investment laws"


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61G: Person who relies on exemption to acquire property may be subject to existing consent or exemption conditions, or

"Buying property from someone with an exemption means you might still have to follow their rules"

Part 2Consent and conditions regime
Miscellaneous provisions

61FOther provisions applying to all exemptions

  1. This section applies to regulations under section 61C and exemptions granted under section 61D.

  2. An exemption may be made subject to any conditions.

  3. Regulations under section 61C may provide, where a person relies on an exemption in the regulations, for the following:

  4. for conditions of consents, to the extent set out in the regulations, to continue in effect as conditions of the consents but on the basis set out in the regulations (whether or not the person who relies on the exemption is a consent holder):
    1. for the person who relies on the exemption to be treated as a consent holder to the extent set out in the regulations:
      1. for consent holders to cease to be subject to the conditions of their consents to the extent set out in the regulations.
        1. An exemption may at any time be amended or revoked in the same way as it may be made (for example, section 61E applies with all necessary modifications).

        2. The reasons of the Minister for recommending the regulations or granting an exemption (including why the exemption is necessary, appropriate, or desirable) must be published together with the regulations or exemption.

        3. However, the publication of an exemption under section 61D, or of the reasons for granting any exemption, may be deferred or dispensed with (in whole or in part) if the Minister is satisfied on reasonable grounds that good reason for withholding the exemption or the reasons (as the case may be) would exist under the Official Information Act 1982.

        Compare
        Notes
        • Section 61F: inserted, on , by section 47 of the Overseas Investment Amendment Act 2018 (2018 No 25).
        • Section 61F(6): amended, on , by section 51 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).