Overseas Investment Act 2005

If you need more information about this Act, please contact the administering agency: The Treasury

Version as at 16 August 2022

Coat of Arms of New Zealand

Overseas Investment Act 2005

Public Act
2005 No 82
Date of assent
21 June 2005
see section 2

The Parliamentary Counsel Office has made editorial and format changes to this version using the powers under subpart 2 of Part 3 of the Legislation Act 2019.

Note 4 at the end of this version provides a list of the amendments included in it.

This Act is administered by the Treasury.


5Act incorporates sections 56 to 58B of Fisheries Act 1996
7Who are overseas persons
8Meaning of associate and associated land
8AStatus of examples
8BTransitional, savings, and related provisions
9Act binds the Crown
10Consent required for overseas investments in sensitive New Zealand assets
11Consent must be obtained before overseas investment given effect
11AExemptions from requirement for consent
12What are overseas investments in sensitive land
13What are overseas investments in significant business assets
14Approach to criteria for consent
15Who are relevant overseas persons, and individuals with control, for overseas investments
16Criteria for consent for overseas investments in sensitive land
16ABenefit to New Zealand test
16BConditions for consents relating to sensitive land that is residential land: benefit to New Zealand test
16CConditions for consents relating to sensitive land that will be used for forestry activities
17Factors for assessing benefit of overseas investments in sensitive land
18Criteria for consent for overseas investments in significant business assets
18AInvestor test
19Applying good character and Immigration Act 2009 criteria [Repealed]
20Exemptions from farm land offer criterion
20ATransactions that are transactions of national interest
20AAExemptions from definition
20BOther transactions may be transactions of national interest if notice given
20CConsent may be declined if transaction contrary to national interest
20DWho are critical direct suppliers
20EProvisions relating to unpublished CDS
20FStatus of unpublished CDS confidential
20GWhat are media businesses with significant impact
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 [Repealed]
29Transaction may be cancelled
29AInvestor test applications where no change since investor test last met
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 [Repealed]
36Regulator may issue guidelines
37Regulator must keep list of reserves, parks, and other sensitive areas [Repealed]
37ARegulator must publish list of sensitive adjoining land relating to collective group of Māori
37BTime frames
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
41FRegulator may issue notice requesting disposal of property
41GConsequences of disposal or retention of property
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
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
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
51APerson who acquires residential land must make and provide statement
51BRegulator must authorise manner of providing statement
51CConveyancer must obtain and keep statement
52Administrative penalties for late filing
53Administrative penalty for retrospective consent
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
56Search warrant
57Form and content of search warrant [Repealed]
58Powers conferred by search warrant [Repealed]
59Requirements when executing search warrant [Not in force]
60Disposal of things seized under search warrant [Repealed]
60AReinstatement of emergency notification regime
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 [Repealed]
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
73New sections 56 to 58B substituted in Fisheries Act 1996 [Repealed]
74Amendment to Te Ture Whenua Maori Act 1993 [Repealed]
75Consequential amendments [Repealed]
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)
81Purpose of Part
82What is call-in transaction and overseas investment in SIB assets
83Who are relevant acquirers
84Review 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
88Direction orders
89Direction orders may be varied by agreement
90Revocation of direction order
91Interim direction orders
92Prohibition orders
93Disposal orders
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
112When risk management actions may be taken in connection with consented transactions of national interest
113Application of subpart
114Classified security information and other terms defined
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
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