This section contains information about the assessment of the likely benefit to New Zealand arising from the factor relating to strategically important infrastructure.
Whether the overseas investment will, or is likely to, assist New Zealand to maintain New Zealand control of strategically important infrastructure on sensitive land (r28(h))?
Key elements of this factor
There are two key elements to this factor:
- There must be strategically important infrastructure on the sensitive land.
- The overseas investment must assist New Zealand to maintain New Zealand control of the strategically important infrastructure.
This factor is not relevant for most overseas investments but when relevant it will be of high relative importance.
Strategically important infrastructure
Strategically important infrastructure may include (but is not limited to) assets such as international airports, shipping ports, national power supply networks or national communication networks.
New Zealand control
Control means ownership interests or voting interests. Such interests should not be able to be varied without the persons consent. Control does not include employee or management rights.
New Zealand control means that New Zealanders have the control necessary to take actions such as pass resolutions in relation to the infrastructure. For example, if shareholder resolutions require a 50% majority to pass, New Zealand must have control of at least 50% of the shareholder rights.
The strategically important infrastructure must be located on sensitive land as that term is defined in the Overseas Investment Act 2005.
Making a claim
Provide the following information when making a claim under this factor:
A description of the relevant infrastructure.
- Strategically Important:
Why the infrastructure is “strategically important”.
- New Zealand control:
The current level of New Zealand control of the infrastructure.
How the overseas investment will assist New Zealand to maintain New Zealand control of the infrastructure.
The level of New Zealand control of the infrastructure that is likely to occur without the overseas investment.
An applicant should include sufficient evidence to show that the maintenance of New Zealand control in strategically important infrastructure is likely to occur.