New Act and Regulations Gazetted

The Overseas Investment Act Commencement Order 2005, which was gazetted on 4 August 2005, brings the Overseas Investment Act 2005 (the 2005 Act) into force on 25 August 2005. You can find a copy of the commencement order on the Knowledge Basket website in text format.

The Overseas Investment Regulations 2005 (the 2005 Regulations) were also g azetted on the same date, and also come into force on 25 August 2005. You can find a copy of the 2005 Regulations on the Knowledge Basket website in text format.

The Commission understands that a Notice of exemptions from farm land offer criterion pursuant to section 20(b) of the 2005 Act is likely to be gazetted shortly. The Commission will be dissolved, in accordance with section 63 of the 2005 Act, on 25 August 2005. Under section 30 of the 2005 Act, the Minister of Finance will appoint Land Information New Zealand as the regulating department, and the Chief Executive of Land Information New Zealand will become the regulator, with effect from 25 August 2005. The regulator's powers and functions under the 2005 Act and 2005 Regulations will be delegated to certain staff in the Overseas Investment Office, which will be a regulatory unit within Land Information New Zealand.