Review of Overseas Investment 2009 Information Release
Page updated 15 Oct 2009
On 17 March 2009 the government announced it would review the Overseas Investment Act 2005 and the Overseas Investment Regulations 2005.
The purpose of the review is to create an overseas investment screening regime that promotes and encourages the flow of investment into New Zealand, while addressing valid concerns about foreign investment. The last review of foreign investment was carried out in 2003 and 2004, and resulted in the Overseas Investment Act 2005.
This page will be updated regularly with information about the review.
A dedicated email address has been set up at the Treasury for members of the public who wish to make known their views on the review of the Overseas Investment Act and Regulations. Receipt of your email will be acknowledged by return email, and the information will provided to the officials working on the review.
overseas.investment@treasury.govt.nz
The review of the Overseas Investment Act is progressing and Cabinet decisions on any changes to legislation are now expected to be taken by around the end of 2009. Any changes to the Overseas Investment Act will be open to public submissions through the select committee process.
Technical Reference Group for the Review of the Overseas Investment Act 2005
A Technical Reference Group (TRG) has been established to assist in the review of the overseas investment regulatory regime. The role of the TRG will be to (mainly on an individual basis):
- provide suggestions on improvements that can be made to the Overseas Investment Act and Regulations.
- consider and comment on policy proposals referred by officials, with a particular focus on whether they will work in a practical context and achieve the desired outcome.
The members of the Technical Reference Group for the Review of the Overseas Investment Act 2005 are Andrew Monteith (Minter Ellison Rudd Watts); Andrew Petersen (Bell Gully); Don Holborow (Simpson Grierson); Garth Sinclair (Russell McVeagh); and Tim Williams (Chapman Tripp).
Read the Terms of Reference for the Technical Reference Group.
Documents
Using PDF Files
| Doc. Date | Created by | Title/Browse | Download |
|---|---|---|---|
| 19 Feb 2009 | The Treasury | Treasury Report T2009/279: Improving the Overseas Investment Act Released 19 May 2009 |
t2009-279.pdf (77 KB) |
| [17 Mar 2009] | The Treasury | Terms of Reference for the Technical Reference Group | tor-trg-roia.pdf (22 KB) |
Related Media Statements
Read related media statements by Hon Bill English, Minister of Finance on the Beehive website:
- Government to simplify foreign investment rules (17 March 2009) - Includes the terms of reference for the review.
Related Information on the Treasury Website
- Strategic Assets - Changes to Overseas Investment Act 2005 Regulations
- Review of Overseas Investment 2003-2005
Related Links
- Overseas Investment Office (a unit of Land Information New Zealand)
- Overseas Investment Act 2005 (New Zealand Legislation website)