38AInformation for tax purposes

1. The purpose of this section is to enable the making of regulations to impose requirements under which overseas persons who make, or apply to make, an overseas investment in sensitive New Zealand assets must provide information that the Commissioner of Inland Revenue considers necessary or relevant for any purpose relating to—

2. the administration or enforcement of an Inland Revenue Act (within the meaning of the Income Tax Act 2007):
3. the administration or enforcement of any matter arising from, or connected with, a function lawfully conferred on the Commissioner.

4. For the purpose of this section, the Governor-General may, by Order in Council made on the recommendation of the Minister, make regulations that impose requirements on all or any persons who make, or apply to make, an overseas investment in sensitive assets, including prescribing all or any of the following:

5. overseas investments to which all or any requirements apply (for example, by reference to a type of investment, a pathway, or a type of land):
6. what information or other evidence or documents must be provided:
7. by whom, when, where, and how the information must be provided:
8. to whom the information must be provided:
9. the form that must be used:
10. requirements with which information, evidence, or documents that are provided must comply.

11. The Commissioner may treat information obtained under this section as information obtained for the purposes of administering the Inland Revenue Acts.

12. Regulations made under this section are secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements).