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Overseas Investment Act 2005

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

90: Revocation of direction order

You could also call this:

"The Minister can cancel an order if something goes wrong with it or the deal it's about."

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The Minister can cancel a direction order if they are satisfied that something has gone wrong with the order or the transaction it relates to. You might wonder what kind of things could go wrong - it could be that someone gave false or misleading information under section 85 or 86, or that they did not tell the Minister something important. It could also be that someone broke a condition of the direction order, or did not follow an enforceable undertaking (which is explained in sections 46A to 46F).

The Minister will only cancel the direction order if they think the problem could cause a risk, as mentioned in section 81. If the Minister decides to cancel the direction order, it is because they believe the issue is serious enough to affect the transaction. You should be aware that the Minister's decision is based on whether the problem could lead to a risk.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS358771.

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89: Direction orders may be varied by agreement, or

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

90Revocation of direction order

  1. The Minister may revoke a direction order if the Minister is satisfied that—

  2. 1 or more of the following events or matters have occurred in connection with the direction order or the call-in transaction that the order relates to:
    1. a notice under section 85 or 86 or any information provided under section 87(5) contained a statement that was false or misleading in any material particular or any material omission:
      1. a notice under section 85 or 86 or any information provided under section 87(5) provided the Minister with a document that was false or misleading in any material particular:
        1. a person has breached a condition of a direction order:
          1. a person has contravened an enforceable undertaking (see sections 46A to 46F); and
          2. the event or matter gives rise, or is likely to give rise, to a risk referred to in section 81.

            Notes
            • Section 90: inserted, on , by section 52 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).
            • Section 90(a)(i): amended, on , by section 53(12) of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).
            • Section 90(a)(ii): amended, on , by section 53(12) of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).