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Fisheries Act 1996

Quota management system - Overseas investment in and aggregation of quota

57D: What are overseas investments in fishing quota

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"What is an overseas investment in New Zealand fishing quota?"

Illustration for Fisheries Act 1996

You can have an overseas investment in fishing quota if you are an overseas person or related to one. This happens when you buy an interest in fishing quota. It also happens when you buy rights or interests in a company that owns or controls fishing quota, and this changes who controls the company, as explained in section 12(1)(b)(i) to (iii) of the Overseas Investment Act 2005.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM396304.

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Part 4Quota management system
Overseas investment in and aggregation of quota

57DWhat are overseas investments in fishing quota

  1. An overseas investment in fishing quota is the acquisition by an overseas person, or an associate of an overseas person, of—

  2. an interest in fishing quota; or
    1. rights or interests in securities of a person (A) if A owns or controls (directly or indirectly) an interest in fishing quota and, as a result of the acquisition, 1 or more of the things referred to in section 12(1)(b)(i) to (iii) of the Overseas Investment Act 2005 happens.

      Notes
      • Section 57D: inserted, on , by section 73 of the Overseas Investment Act 2005 (2005 No 82).
      • Section 57D(b): replaced, on , by section 61 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).