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Overseas Investment Act 2005

Consent and conditions regime - Enforcement - Enforceable undertakings

46C: Notice of decision

You could also call this:

"The regulator must tell you about their decision on an undertaking on their website."

Illustration for Overseas Investment Act 2005

When the regulator decides to accept an enforceable undertaking, they must put a notice on their website. The notice tells you about the decision to accept the undertaking and why it was made. It also includes details about what happened and how much money might need to be paid.

The notice has information about what the undertaking is for and the reasons behind the decision. You can find out how much money is involved in the undertaking from the notice. The regulator can choose to put a copy of the undertaking on their website instead of a notice, if the undertaking has all the necessary information.

The regulator follows rules like the ones in the Overseas Investment (Urgent Measures) Amendment Act 2020 when making these decisions. You can find more information about these rules on the legislation website. The regulator's website will have the notice and any other important information about the undertaking.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS357771.

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46B: When undertaking is enforceable, or

"When a promise to the regulator is legally binding"

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46D: Withdrawal or variation of enforceable undertaking, or

"Changing or cancelling a promise you made to follow the Overseas Investment Act rules"

Part 2Consent and conditions regime
Enforcement: Enforceable undertakings

46CNotice of decision

  1. The regulator must publish, on an Internet site maintained by, or on behalf of, the regulator, notice of the decision to accept an enforceable undertaking.

  2. The notice must include—

  3. a summary of the circumstances and nature of the contravention or alleged contravention of this Act or regulations to which the undertaking relates:
    1. a summary of the reasons for that decision:
      1. any amounts payable under the undertaking.

        1. Alternatively, the notice may include a copy of the undertaking if the undertaking contains all of the information in subsection (2).

        Compare
        Notes
        • Section 46C: inserted, on , by section 35 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).