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Fisheries Act 1996

Quota management system - Overseas investment in and aggregation of quota

57F: Who are relevant overseas persons, and individuals with control, for overseas investments

You could also call this:

"Who is in charge of overseas investments in New Zealand?"

Illustration for Fisheries Act 1996

You want to know who is a relevant overseas person for an overseas investment. The relevant Ministers decide who this person is. They can choose the person making the investment or their associates. You also want to know who has control of the relevant overseas person. The Ministers decide this too. They look at who owns more than 25% of the relevant overseas person, or who is on the governing body, or who they think has control.

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57G: Criteria for overseas investments in fishing quota, or

"Rules for overseas investors buying New Zealand fishing quota"

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

57FWho are relevant overseas persons, and individuals with control, for overseas investments

  1. The relevant Ministers may determine which 1 or more of the following persons is the relevant overseas person for an overseas investment:

  2. the person making the overseas investment (A), whether A is an overseas person or an associate of an overseas person:
    1. any associate of A in relation to the overseas investment.

      1. The relevant Ministers may determine which 1 or more of the following categories of persons are the individuals with control of the relevant overseas person for an overseas investment:

      2. the individual or individuals who each have a more than 25% ownership or control interest in the relevant overseas person:
        1. the member or members of the governing body of the relevant overseas person:
          1. the individual or body of individuals who the Ministers consider to have that control (whether directly or indirectly).

            Notes
            • Section 57F: inserted, on , by section 73 of the Overseas Investment Act 2005 (2005 No 82).
            • Section 57F(2)(a): amended, on , by section 62 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).