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Overseas Investment Act 2005

National security and public order risks management regime - Risk management actions - Statutory management

98: Date and time of appointment

You could also call this:

"When a new manager starts: knowing the date and time they begin their job"

Illustration for Overseas Investment Act 2005

When an order is made under section 95, it must say when it starts and what time it starts. You need to know the order starts on the date it is made or after that. The date and time it starts must not be before the order is made.

If someone asks when something was done, you treat it as happening after the statutory manager was appointed, unless you can prove it happened before. This helps you know what happened before or after the statutory manager started their job. You can prove it happened before if you have evidence to show that.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS358863.

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

98Date and time of appointment

  1. Every order made under section 95 must specify the date on which, and the time at which, it comes into force.

  2. The date and time specified must not be earlier than the date on which, and the time at which, the order is made.

  3. If a question arises as to whether, on the date on which a statutory manager was appointed, an act was done or a transaction was entered into or effected before or after the appointment, the act or transaction must, in the absence of proof to the contrary, be treated as having been done, entered into, or effected, as the case may be, after the appointment of the statutory manager.

Notes
  • Section 98: inserted, on , by section 52 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).