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Fisheries Act 1996

Quota management system - Overseas investment in and aggregation of quota

57H: Factors for determining whether or not overseas investment in fishing quota will, or is likely to, benefit New Zealand

You could also call this:

"How overseas investment in fishing affects New Zealand"

Illustration for Fisheries Act 1996

When you invest in fishing quota from another country, the government checks if it will benefit New Zealand. They look at things like whether it creates jobs, brings in new technology, or helps the environment. They also consider if it supports important government policies or brings other benefits to New Zealand. You can find more information about how this works in Section 17(2) of the Overseas Investment Act 2005. The government wants to make sure that overseas investments are good for New Zealand. They consider many factors to make this decision. The government's decision is based on several key factors, including economic benefits, environmental benefits, and support for government policies. They want to ensure that overseas investments bring benefits to New Zealand, such as new jobs or technologies. This helps the government make informed decisions about overseas investments in fishing quota.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM396316.

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

57HFactors for determining whether or not overseas investment in fishing quota will, or is likely to, benefit New Zealand

  1. The factors for assessing the benefit of overseas investments in fishing quota are whether the overseas investment will, or is likely to,—

  2. result in economic benefits for New Zealand (for example, the creation and retention of jobs, introduction of technology or business skills, increased export receipts, increased processing in New Zealand of fish, aquatic life, or seaweed, or a reduced risk of illiquid assets):
    1. result in benefits to the natural environment (for example, protection of indigenous fish or mitigation of environmental impacts by innovations in fishing technologies):
      1. give effect to or advance a significant Government policy:
        1. involve oversight of, or participation in, the overseas investment and any relevant overseas person by persons who are not overseas persons:
          1. result in other consequential benefits to New Zealand.

            1. Section 17(2) of the Overseas Investment Act 2005 applies with necessary modifications.

            Notes
            • Section 57H: replaced, on , by section 38 of the Overseas Investment Amendment Act 2021 (2021 No 17).