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Overseas Investment Act 2005

National security and public order risks management regime - Risk management actions - Direction orders

89: Direction orders may be varied by agreement

You could also call this:

"The Minister can change or cancel a direction order if the person it affects agrees."

Illustration for Overseas Investment Act 2005

The Minister can change a direction order if the relevant acquirer agrees. You need to know that the Minister can make these changes with the acquirer's agreement. The Minister can also add new conditions or change existing ones with the acquirer's agreement.

The Minister can also cancel a condition of a direction order. This means the condition is no longer part of the direction order. The Minister has the power to make this change.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS358769.

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88: Direction orders, or

"Rules for buying from overseas: following the Minister's directions"

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Part 3National security and public order risks management regime
Risk management actions: Direction orders

89Direction orders may be varied by agreement

  1. A direction order may be varied by the Minister with the agreement of the relevant acquirer.

  2. Any conditions of a direction order may be varied or added to by the Minister with the agreement of the relevant acquirer.

  3. A condition of a direction order may be revoked by the Minister.

Notes
  • Section 89: inserted, on , by section 52 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).