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Overseas Investment Act 2005

Consent and conditions regime - When consent required and criteria for consent - Transactions of national interest

20B: Other transactions may be transactions of national interest if notice given

You could also call this:

"The Minister can decide an overseas investment is important to New Zealand if they think it might hurt the country."

Illustration for Overseas Investment Act 2005

If you are making an application for an overseas investment, the Minister might think it could be bad for New Zealand's national interest. The Minister can then write to you to say that your transaction is a transaction of national interest. You should know that the Minister has this power if they think an investment is not good for the country. The person deciding on your application cannot use this power to change their decision about your application, they have to follow the rules in section 24.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS357519.

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20C: Consent may be declined if transaction contrary to national interest, or

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Part 2Consent and conditions regime
When consent required and criteria for consent: Transactions of national interest

20BOther transactions may be transactions of national interest if notice given

  1. If the Minister considers that any other overseas investment transaction for which an application for consent has been made could be contrary to New Zealand’s national interest, the Minister may notify the applicant in writing that the transaction is a transaction of national interest.

  2. The person making a decision under section 24 in relation to a particular application cannot exercise the Minister’s power under subsection (1) in relation to that application.

Notes
  • Section 20B: inserted, on , by section 17 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).