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Overseas Investment Act 2005

Consent and conditions regime - Administration

37B: Time frames

You could also call this:

"Rules about how long things take to happen under the Overseas Investment Act 2005"

Illustration for Overseas Investment Act 2005

The Governor-General can make rules about how long things take under the Overseas Investment Act 2005. You can think of these rules as time frames for getting things done. These time frames can be about how long it takes to make decisions or provide services.

When the Governor-General makes these rules, they can also say what information must be included in a report about whether those time frames are being met. This report is like a progress update.

If the time frames are not met, you cannot take the issue to court to get compensation or relief, and the time frames do not affect how people in power make decisions, see Part 3 of the Legislation Act 2019 for more information about this.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS357721.

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Part 2Consent and conditions regime
Administration

37BTime frames

  1. The Governor-General may, by Order in Council, make regulations—

  2. setting time frames for the exercise of powers, performance of functions and duties, and provision of services under this Act:
    1. requiring information to be included in the annual report of the regulator about the extent to which those time frames are met.

      1. The time frames do not create any legal right enforceable in a court of law or affect or limit the way in which a person (for example, a Minister or the regulator) is required to exercise a statutory power of decision.

      2. In particular, no form of monetary compensation or relief, or injunctive relief, is available as a remedy if the time frames are not met.

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

      Notes
      • Section 37B: inserted, on , by section 25 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).
      • Section 37B(4): inserted, on , by section 3 of the Secondary Legislation Act 2021 (2021 No 7).