Source: New Zealand Treasury:
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Cabinet Paper LEG-20-SUB-0066: Overseas Investment Amendment Regulations 2020
- This paper seeks authorisation for submission to the Executive Council of the Overseas Investment Amendment Regulations 2020 (‘the Essential Amendment Regulations’), which amend the Overseas Investment Regulations 2005 (‘the Regulations’).
- The Essential Amendment Regulations can be made pursuant to sections 61, 61C and new section 127 of the Overseas Investment Act 2005 (‘the Act’).
- The Essential Amendment Regulations will implement policy decisions made by Cabinet on 11 May 2020 [CAB-20-MIN-0212 refers], and one additional decision made under delegated authority regarding the Act’s treatment of loans.
- Changes to the Regulations are required to operationalise changes to the Act in the Overseas Investment (Urgent Measures) Amendment Bill 2020 (‘Urgent Measures Bill’). The Urgent Measures Bill is an urgent priority.