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Overseas Investment Act 2005
National security and public order risks management regime
Protection of classified security information
123: Other matters relating to procedure in proceedings involving classified security information

Part 1:
Preliminary provisions

3Purpose 4Overview 5Act incorporates sections 56 to 58B of Fisheries Act 1996 6Interpretation 7Who are overseas persons 8Meaning of associate and associated land 8AStatus of examples

Transitional, savings, and related provisions

8BTransitional, savings, and related provisions

Act binds the Crown

9Act binds the Crown

Part 2:
Consent and conditions regime

When consent required and criteria for consent

Procedure for making an application for consent and for granting consent

21Application for consent 22Who must apply for consent 23Requirements for application for consent 23AApplications for standing consent in advance of transaction 24Who decides application 25Granting or refusal of consent 25AConditions of consent 25BAutomatic conditions: every overseas investment 25CAutomatic condition: every transaction of national interest 25DAutomatic condition: transactions involving fresh or seawater areas 26Minister may revoke consent in case of fraud 27Consent may be varied by agreement 27AConsent holder may apply for new consent 28Conditions of consent 29Transaction may be cancelled 29AInvestor test applications where no change since investor test last met

Administration

30Regulator 31What regulator does 32Delegation by relevant Minister or Ministers 33Rules that apply to delegation under this Act or regulations 34Ministerial directive letter 35Ministerial directive letter must be published, etc 36Regulator may issue guidelines 37Regulator must keep list of reserves, parks, and other sensitive areas 37ARegulator must publish list of sensitive adjoining land relating to collective group of Māori 37BTime frames

Information-gathering powers

38Regulator may require person to provide information for monitoring purposes 38AInformation for tax purposes 39Regulator may require any person to provide information for statistical or monitoring purposes 40Regulator may require person to provide statutory declaration as to compliance 41Regulator may require information and documents to be provided 41APrivileges for person required to provide information or document 41BEffect of proceedings 41CEffect of final decision that exercise of powers under sections 38 to 41 unlawful 41DConfidentiality of information and documents 41EConditions relating to publication or disclosure of information or documents

Enforcement

Disposal of property

41FRegulator may issue notice requesting disposal of property 41GConsequences of disposal or retention of property

Offences

42Offence of giving effect to overseas investment without consent 43Offence of defeating, evading, or circumventing operation of Act 44Offence of resisting, obstructing, or deceiving 45Offence of failing to comply with notice, requirement, or condition 46Offence of false or misleading statement or omission

Enforceable undertakings

46ARegulator may accept undertakings 46BWhen undertaking is enforceable 46CNotice of decision 46DWithdrawal or variation of enforceable undertaking 46EProceedings for alleged contravention 46FContravention of enforceable undertaking 46GConsiderations for court orders

Powers of court

47Court may order disposal of property 48Court may order person in breach or involved in breach to pay civil pecuniary penalty 48ADefences for person involved in contravention, offence, or failure 49Court may order mortgage to be registered over land 50Court may order interest to be paid 51Court may order compliance with condition of consent, exemption, exemption certificate, direction order, or interim direction order 51AAACourt may grant injunction 51AABWhen court may grant restraining injunctions 51AACWhen court may grant performance injunctions 51AADUndertaking as to damages not required by regulator 51AAEPublication under this subpart may be deferred or dispensed with

Statement relating to compliance with consent requirement

51APerson who acquires residential land must make and provide statement 51BRegulator must authorise manner of providing statement 51CConveyancer must obtain and keep statement

Administrative penalties

52Administrative penalties for late filing 53Administrative penalty for retrospective consent

Giving, providing, or serving notices or documents

54Address for service 54ANotices or other documents given, provided, or served by regulator 55Non-appearance not ground for court to refuse order under Act if person served in accordance with section 54A 55AProof that documents given, provided, or served

Search and seizure

56Search warrant 57Form and content of search warrant 58Powers conferred by search warrant 59Requirements when executing search warrant 60Disposal of things seized under search warrant

Miscellaneous provisions

60AReinstatement of emergency notification regime 61Regulations 61ARegulations regarding alternative monetary thresholds for overseas investments in significant business assets 61BPurpose of exemptions 61CRegulations may contain class or individual exemptions 61DMinister may grant individual exemptions 61ECriteria for all exemptions 61FOther provisions applying to all exemptions 61GPerson who relies on exemption to acquire property may be subject to existing consent or exemption conditions 62Foreshore, seabed, riverbed, or lakebed acquired by the Crown under consent process is not subdivision

Transitional provisions and amendments to other enactments

Dissolution of Commission

63Commission dissolved 64Assets and liabilities vest in the Crown 65No compensation for loss of office 66Transfer to LINZ 67Transferring employee must be employed in equivalent employment 68Continuity of employment 69No compensation for technical redundancy 70Final report 71References to Commission 72Proceedings of Commission

Amendments to Fisheries Act 1996

73New sections 56 to 58B substituted in Fisheries Act 1996

Amendment to Te Ture Whenua Maori Act 1993

74Amendment to Te Ture Whenua Maori Act 1993

Consequential amendments

75Consequential amendments

Transitional provisions

76Repeal and revocations 77Transitional provision for acts done or begun under previous overseas investment regime 78Transitional provision for consents, exemptions, and conditions under 1973 Act and Regulations 79Transitional provision for permissions, etc, under Fisheries Act 1996 80Transitional provision relating to clause 6 of Schedule 1AA (Exemption relating to dwellings in large apartment developments where sales of dwellings have begun before assent date)

Part 3:
National security and public order risks management regime

81Purpose of Part

Call-in transactions

Call-in transactions, etc

82What is call-in transaction and overseas investment in SIB assets 83Who are relevant acquirers

Review of call-in transactions

84Review of call-in transactions

Notification of call-in transactions

85Military or dual-use technology and critical direct supplier call-in transactions 86Other call-in transactions 87Requirements for notification of call-in transaction

Risk management actions

Direction orders

88Direction orders 89Direction orders may be varied by agreement 90Revocation of direction order 91Interim direction orders

Prohibition orders

92Prohibition orders

Disposal orders

93Disposal orders

Statutory management

94Purpose of statutory management 95Statutory management of person who owns sensitive assets and associates 96Recommendation of Minister 97Statutory management of New Zealand business only 98Date and time of appointment 99Considerations affecting exercise of powers by statutory manager 100Role of regulator in statutory management 101Statutory manager may form body corporate to acquire business of branch of persons not incorporated in New Zealand 102Body corporate formed and registered also subject to statutory management 103Statutory manager may sell vested assets 104Statutory manager may terminate contracts or arrangements posing significant risk to national security or public order 105Application of Corporations (Investigation and Management) Act 1989 106Termination of statutory management 107Effect of termination of statutory management 108Powers to obtain documents and information 109Protection from liability and indemnity 110Expenses of statutory management 111Modifications where person under statutory management is regulated by Reserve Bank

Risk management actions and transactions of national interest

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

Protection of classified security information

113Proceedings involving classified security information 114Meaning of classified security information 115Obligation to provide court with access to classified security information 116Court orders 117Appointment of special advocate 118Nomination of person for appointment 119Role of special advocates 120Court may provide access to classified security information to special advocate 121Communication between special advocate and other persons 122Protection of special advocates from liability 123Other matters relating to procedure in proceedings involving classified security information 124Nothing in this subpart limits other rules of law that authorise or require withholding of document, etc 125Ancillary general practices and procedures to protect classified security information

Miscellaneous provisions

126Power to use and disclose information relevant to managing certain risks 127Regulations regarding transactions of national interest and overseas investments in SIB assets 128Giving effect to and unwinding of call-in transactions 129Minister must publish decisions on call-in transactions and transaction of national interest

Schedule 1AA:
Transitional, savings, and related provisions

Schedule 1A:
Total term of interest in land

Schedule 2:
Sensitive land that is residential land

Schedule 3:
Exemptions from requirement for consent

Schedule 5:
Fresh or seawater areas

Overseas Investment Act 2005

National security and public order risks management regime - Protection of classified security information

123: Other matters relating to procedure in proceedings involving classified security information

You could also call this:

"Rules for keeping secrets safe in court cases about overseas investments"

Illustration for Overseas Investment Act 2005

When you look at the law about overseas investments, you will see a part that was repealed. This part was called "Other matters relating to procedure in proceedings involving classified security information". It was repealed on 28 November 2023 by section 35 of the Security Information in Proceedings (Repeals and Amendments) Act 2022.

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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=LMS359084.

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122: Protection of special advocates from liability, or

"Special helpers in court are protected from getting in trouble for doing their job."

124: Nothing in this subpart limits other rules of law that authorise or require withholding of document, etc, or

"Other laws can still keep documents secret, even if this part of the law says something different."

Part 3National security and public order risks management regime
Protection of classified security information

123Other matters relating to procedure in proceedings involving classified security information (Repealed)

Notes

Section 123: repealed, on 28 November 2023, by section 35 of the Security Information in Proceedings (Repeals and Amendments) Act 2022 (2022 No 72).