The Overseas Investment Act 2005 came into force on 25 August 2005. The Minister of Finance is responsible for the Act, and Treasury is responsible for policy advice relating to this Act. The Minister of Finance has designated the OIO as the regulator.
The Act and the Overseas Investment Regulations 2005 have been amended as follows:
- On 24 November 2021, the second changes brought about by the Overseas Investment Amendment Act 2021 came into effect including changes to the benefit test.
- On 5 July 2021, the first changes brought about by the Overseas Investment Amendment Act 2021 came into effect.
- On 7 June 2021, the emergency notification regime (ENR) was replaced by the more targeted national security and public order (NSPO) notification regime. Notifications under ENR are still required for transactions entered into before 7 June 2021.
- In June 2020, the Overseas Investment (Urgent Measures) Amendment Act 2020 and Overseas Investment Amendment Regulations 2020 came into force.
- In 2018, the Overseas Investment Amendment Act 2018 and the Overseas Investment Amendment Regulations 2018 came into force.
The overseas investment rules can be found in:
- Overseas Investment Act 2005
- Overseas Investment (Urgent Measures) Amendment Act 2020
- Overseas Investment Amendment Act 2021
- Overseas Investment Regulations 2005
- Sections 56 to 57J of the Fisheries Act 1996
Ministers and legislation
Find out more about Overseas Investment Office legislation, ministers and delegated powers.
Official newspaper of the New Zealand government.
The ministerial directive letter, and supplementary directive letters, contain information on the government’s general policy approach and other matters, including relating to the OIO’s functions, powers, and duties as regulator.
The current ministerial directive letter was issued on 24 November 2021.
The relevant ministers generally make decisions after considering advice from the OIO. In some circumstances, the OIO has authority to make decisions under delegation from the ministers. However, ministers have the discretion to ‘call in’ a delegated decision and make it themselves.
The ministerial delegation letter contains information about the functions and powers under the Act and the Regulations that have been delegated to the OIO.
|Sensitive land applications||Minister of Finance and Minister for Land Information||Many consent decisions delegated in the first instance.|
|Significant business assets applications (not including sensitive land)||Associate Minister of Finance||All consent decisions delegated in the first instance.|
|Fishing quota applications||Minister of Finance and Minister of Oceans and Fisheries||No delegations. The ministers make all decisions.|
|National interest decisions*||Minister of Finance||No delegations. The minister makes all decisions.|
|Notification Pathway - Call in Decisions||Minister of Finance||No delegations. The minister makes all decisions.|
*Also applies to notification under the temporary notification regime.
The letters listed below have been superseded but contain information about the functions and powers under the Act and the Regulations that have been delegated to the OIO.