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Overseas Investment Act 2005

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

91: Interim direction orders

You could also call this:

"The Minister can give a temporary order to manage risks in a big overseas investment deal."

Illustration for Overseas Investment Act 2005

The Minister can give you an interim order if they are thinking about taking a risk management action for a call-in transaction. This interim order is like the one mentioned in section 88. The Minister can only add conditions to this order if they think the transaction could cause a risk mentioned in section 81.

The Minister must follow some rules when giving an interim order, which are explained in sections 88(2), (3), and (5) and section 89. An interim order stays in place until a certain date or until the Minister decides what to do about the transaction.

The Minister can cancel an interim order at any time. An interim order will end on the earlier of a date set by regulations or the date the Minister takes action on the transaction.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS358773.

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"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 stop a deal from happening with a prohibition order if it might cause problems for New Zealand."

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

91Interim direction orders

  1. The Minister may give an interim order of the kind referred to in section 88 to a relevant acquirer if the Minister is considering whether to take a risk management action, or what kind of risk management action to take, in relation to a call-in transaction.

  2. Sections 88(2), (3), and (5) and 89 apply to an interim direction order as if it were a direction order.

  3. The Minister may impose conditions only if the Minister considers that the call-in transaction could give rise to a risk referred to in section 81.

  4. An interim direction order is in force until the earlier of—

  5. the date specified in regulations; and
    1. the date on which the Minister takes a risk management action in relation to the relevant call-in transaction.

      1. The Minister may revoke an interim direction order at any time.

      Notes
      • Section 91: inserted, on , by section 52 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).
      • Section 91(2): replaced, on , by section 53(13) of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).