The Treasury has released information relating to the review of the screening of inward bound foreign investment carried out in 2003 and 2004 and the resulting legislation - the Overseas Investment Act 2005.
The Overseas Investment Act 2005 received royal assent on 21 June 2005. The introduction of this legislation by the government was the result of a review of New Zealand’s overseas investment screening regime. The government's aim when embarking on the review was to more tightly focus investment screening on assets of critical importance by giving stronger recognition to items such as New Zealand's natural and historic heritage while also recognising the tangible benefits that flow from foreign investment.
The Treasury released on various dates in 2003 and 2004 departments' advice to ministers, consultants' reports, Cabinet papers and minutes of decisions, background material and the terms of reference of the review.
Related Media Statements#
Read the related media statements by the Hon Dr Michael Cullen on the Beehive website:
- Toward a more effective overseas investment regime (10 November 2004)
- Tougher protections for sensitive sites (20 July 2004)
- 1st principles review of the Overseas Investment Act (10 November 2003)
Related Information on the Treasury Website#
- Overseas Investment Office (a unit of Land Information New Zealand)
- Overseas Investment Act 2005 (New Zealand Legislation website)
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