Overseas Investment Act 2005

National security and public order risks management regime - Risk management actions - Risk management actions and transactions of national interest

112: When risk management actions may be taken in connection with consented transactions of national interest

You could also call this:

"The Minister can step in if an approved important deal goes wrong and causes problems."

Illustration for Overseas Investment Act 2005

The Minister can take certain actions if something goes wrong with a transaction of national interest that has already been approved. You need to know that the Minister can only do this if one or more specific things have happened, such as someone giving false or misleading information when they applied for approval under section 23, or if someone has broken a condition of their approval. The Minister must also think that what happened could cause a problem, such as a risk to national security or public order, as mentioned in section 81 for disposal orders, or a significant risk to national security or public order if someone is recommended to be put into statutory management, which is explained in sections 46A to 46G.

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This page was last updated on 18 July 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS359050.

Topics:

Money and consumer rights > Banking and loansBusiness > Industry rules

111: Modifications where person under statutory management is regulated by Reserve Bank, or

"What happens when the government takes control of a bank or financial business regulated by the Reserve Bank"

113: Proceedings involving classified security information, or

"What happens in court cases involving secret security information about overseas investments"

Part 3National security and public order risks management regime
Risk management actions: Risk management actions and transactions of national interest

112When risk management actions may be taken in connection with consented transactions of national interest

The Minister may only make a disposal order or a recommendation that a person be put into statutory management in connection with a transaction of national interest for which consent has been granted if the Minister is satisfied that—
1 or more of the following events or matters have occurred in connection with the relevant consent or the transaction of national interest that the consent relates to:
1. an application under section 23 or any information provided under section 23(3) contained a statement that was false or misleading in any material particular or any material omission:
2. an application under section 23 or any information provided under section 23(3) provided the Minister with a document that was false or misleading in any material particular:
3. a person has breached a condition of a consent:
4. a person has contravened an enforceable undertaking (see sections 46A to 46G); and
that the event or matter gives rise, or is likely to give rise,—
1. in the case of a disposal order, to a risk referred to in section 81:
2. in the case of a recommendation that a person be put into statutory management, to a significant risk to national security or public order.

Notes

Section 112: inserted, on 16 June 2020, by section 52 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).